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BlackRock (BLK) Gains As Market Dips: What You Should Know
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In the latest trading session, BlackRock (BLK - Free Report) closed at $697.20, marking a +0.57% move from the previous day. This move outpaced the S&P 500's daily loss of 0.43%. At the same time, the Dow lost 0.34%, and the tech-heavy Nasdaq lost 0.62%.
Prior to today's trading, shares of the investment firm had lost 14.73% over the past month. This has lagged the Finance sector's loss of 7.51% and the S&P 500's loss of 6.57% in that time.
Investors will be hoping for strength from BlackRock as it approaches its next earnings release. In that report, analysts expect BlackRock to post earnings of $9.18 per share. This would mark year-over-year growth of 18.15%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.9 billion, up 11.42% from the year-ago period.
BLK's full-year Zacks Consensus Estimates are calling for earnings of $41.85 per share and revenue of $21.11 billion. These results would represent year-over-year changes of +6.81% and +8.96%, respectively.
Investors might also notice recent changes to analyst estimates for BlackRock. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 2.18% 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 16.57 right now. Its industry sports an average Forward P/E of 10.47, so we one might conclude that BlackRock is trading at a premium comparatively.
Investors should also note that BLK has a PEG ratio of 1.5 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. BLK's industry had an average PEG ratio of 0.81 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 28% 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.
To follow BLK in the coming trading sessions, be sure to utilize Zacks.com.
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BlackRock (BLK) Gains As Market Dips: What You Should Know
In the latest trading session, BlackRock (BLK - Free Report) closed at $697.20, marking a +0.57% move from the previous day. This move outpaced the S&P 500's daily loss of 0.43%. At the same time, the Dow lost 0.34%, and the tech-heavy Nasdaq lost 0.62%.
Prior to today's trading, shares of the investment firm had lost 14.73% over the past month. This has lagged the Finance sector's loss of 7.51% and the S&P 500's loss of 6.57% in that time.
Investors will be hoping for strength from BlackRock as it approaches its next earnings release. In that report, analysts expect BlackRock to post earnings of $9.18 per share. This would mark year-over-year growth of 18.15%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.9 billion, up 11.42% from the year-ago period.
BLK's full-year Zacks Consensus Estimates are calling for earnings of $41.85 per share and revenue of $21.11 billion. These results would represent year-over-year changes of +6.81% and +8.96%, respectively.
Investors might also notice recent changes to analyst estimates for BlackRock. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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 2.18% 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 16.57 right now. Its industry sports an average Forward P/E of 10.47, so we one might conclude that BlackRock is trading at a premium comparatively.
Investors should also note that BLK has a PEG ratio of 1.5 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. BLK's industry had an average PEG ratio of 0.81 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 28% 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.
To follow BLK in the coming trading sessions, be sure to utilize Zacks.com.