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BlackRock (BLK) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, BlackRock (BLK - Free Report) closed at $721.90, marking a +1.38% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.75%. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq gained 10.36%.
Prior to today's trading, shares of the investment firm had gained 0.25% over the past month. This has outpaced the Finance sector's loss of 3.71% and the S&P 500's loss of 5.98% in that time.
Investors will be hoping for strength from BlackRock as it approaches its next earnings release, which is expected to be January 13, 2023. On that day, BlackRock is projected to report earnings of $7.84 per share, which would represent a year-over-year decline of 24.76%. Meanwhile, our latest consensus estimate is calling for revenue of $4.18 billion, down 18.18% from the prior-year quarter.
Any recent changes to analyst estimates for BlackRock should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.21% lower. BlackRock is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, BlackRock currently has a Forward P/E ratio of 21.27. Its industry sports an average Forward P/E of 10.98, so we one might conclude that BlackRock is trading at a premium comparatively.
Also, we should mention that BLK has a PEG ratio of 3.78. 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. The Financial - Investment Management was holding an average PEG ratio of 1.81 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 163, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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BlackRock (BLK) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, BlackRock (BLK - Free Report) closed at $721.90, marking a +1.38% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.75%. At the same time, the Dow added 0.4%, and the tech-heavy Nasdaq gained 10.36%.
Prior to today's trading, shares of the investment firm had gained 0.25% over the past month. This has outpaced the Finance sector's loss of 3.71% and the S&P 500's loss of 5.98% in that time.
Investors will be hoping for strength from BlackRock as it approaches its next earnings release, which is expected to be January 13, 2023. On that day, BlackRock is projected to report earnings of $7.84 per share, which would represent a year-over-year decline of 24.76%. Meanwhile, our latest consensus estimate is calling for revenue of $4.18 billion, down 18.18% from the prior-year quarter.
Any recent changes to analyst estimates for BlackRock should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.21% lower. BlackRock is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, BlackRock currently has a Forward P/E ratio of 21.27. Its industry sports an average Forward P/E of 10.98, so we one might conclude that BlackRock is trading at a premium comparatively.
Also, we should mention that BLK has a PEG ratio of 3.78. 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. The Financial - Investment Management was holding an average PEG ratio of 1.81 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 163, which puts it in the bottom 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.