In the latest trading session, BlackRock (BLK) closed at $971.82, marking a -1.66% move from the previous day. This move lagged the S&P 500's daily loss of 1.13%. Meanwhile, the Dow experienced a drop of 1.79%, and the technology-dominated Nasdaq saw a decrease of 1.3%.
The investment firm's shares have seen an increase of 0.53% over the last month, not keeping up with the Finance sector's gain of 1.24% and the S&P 500's gain of 3.55%.
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 $10.37 per share, which would represent year-over-year growth of 0.1%. Our most recent consensus estimate is calling for quarterly revenue of $5.37 billion, up 11.83% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $44.75 per share and a revenue of $22.53 billion, demonstrating changes of +2.61% and +10.4%, respectively, from the preceding year.
Investors should also note any recent changes to analyst estimates for BlackRock. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, there's been a 0.19% rise in the Zacks Consensus EPS estimate. BlackRock presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, BlackRock is currently exchanging hands at a Forward P/E ratio of 22.08. This represents a premium compared to its industry average Forward P/E of 11.07.
We can also see that BLK currently has a PEG ratio of 3.01. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Financial - Investment Management was holding an average PEG ratio of 1.34 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 166, putting it in the bottom 33% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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