BlackRock (BLK) ended the recent trading session at $967.36, demonstrating a +1.01% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.21%. On the other hand, the Dow registered a loss of 0.07%, and the technology-centric Nasdaq increased by 0.01%.
The stock of investment firm has fallen by 11.32% in the past month, lagging the Finance sector's loss of 5.83% and the S&P 500's loss of 2.26%.
Analysts and investors alike will be keeping a close eye on the performance of BlackRock in its upcoming earnings disclosure. On that day, BlackRock is projected to report earnings of $12.42 per share, which would represent year-over-year growth of 9.91%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.64 billion, up 25.76% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $53.64 per share and revenue of $27.79 billion, indicating changes of +11.54% and +14.75%, respectively, compared to the previous year.
Investors should also take note of any recent adjustments to analyst estimates for BlackRock. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, BlackRock holds a Zacks Rank of #3 (Hold).
From a valuation perspective, BlackRock is currently exchanging hands at a Forward P/E ratio of 17.85. This represents a premium compared to its industry average Forward P/E of 10.12.
It is also worth noting that BLK currently has a PEG ratio of 1.2. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Financial - Investment Management industry held an average PEG ratio of 0.82.
The Financial - Investment Management industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 176, placing it within the bottom 29% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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BlackRock (BLK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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