BlackRock (BLK - Free Report) closed the most recent trading day at $636.92, moving -1.68% from the previous trading session. This move lagged the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, lost 0.11%.
Heading into today, shares of the investment firm had lost 2.81% over the past month, outpacing the Finance sector's loss of 3.72% and lagging the S&P 500's loss of 0.62% in that time.
Wall Street will be looking for positivity from BlackRock as it approaches its next earnings report date. In that report, analysts expect BlackRock to post earnings of $9.12 per share. This would mark a year-over-year decline of 9.07%. Our most recent consensus estimate is calling for quarterly revenue of $4.85 billion, up 0.64% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $38.35 per share and revenue of $20 billion. These totals would mark changes of -2.12% and +3.25%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for BlackRock. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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, the Zacks Consensus EPS estimate has moved 0.31% lower. BlackRock is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that BlackRock has a Forward P/E ratio of 16.89 right now. Its industry sports an average Forward P/E of 9.19, so we one might conclude that BlackRock is trading at a premium comparatively.
Investors should also note that BLK has a PEG ratio of 2.07 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Financial - Investment Management stocks are, on average, holding a PEG ratio of 1.15 based on yesterday's closing prices.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 196, putting it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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BlackRock (BLK - Free Report) closed the most recent trading day at $636.92, moving -1.68% from the previous trading session. This move lagged the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.2%, and the Nasdaq, a tech-heavy index, lost 0.11%.
Heading into today, shares of the investment firm had lost 2.81% over the past month, outpacing the Finance sector's loss of 3.72% and lagging the S&P 500's loss of 0.62% in that time.
Wall Street will be looking for positivity from BlackRock as it approaches its next earnings report date. In that report, analysts expect BlackRock to post earnings of $9.12 per share. This would mark a year-over-year decline of 9.07%. Our most recent consensus estimate is calling for quarterly revenue of $4.85 billion, up 0.64% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $38.35 per share and revenue of $20 billion. These totals would mark changes of -2.12% and +3.25%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for BlackRock. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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, the Zacks Consensus EPS estimate has moved 0.31% lower. BlackRock is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that BlackRock has a Forward P/E ratio of 16.89 right now. Its industry sports an average Forward P/E of 9.19, so we one might conclude that BlackRock is trading at a premium comparatively.
Investors should also note that BLK has a PEG ratio of 2.07 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Financial - Investment Management stocks are, on average, holding a PEG ratio of 1.15 based on yesterday's closing prices.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 196, putting it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Just Released: Zacks Top 10 Stocks for 2024
Hurry – you can still get in early on our 10 top tickers for 2024. Hand-picked by Zacks Director of Research, Sheraz Mian, this portfolio has been stunningly and consistently successful. From inception in 2012 through November, 2023, the Zacks Top 10 Stocks gained +974.1%, nearly TRIPLING the S&P 500’s +340.1%. Sheraz has combed through 4,400 companies covered by the Zacks Rank and handpicked the best 10 to buy and hold in 2024. You can still be among the first to see these just-released stocks with enormous potential.
See New Top 10 Stocks >>
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