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BlackRock (BLK) Gains As Market Dips: What You Should Know

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BlackRock (BLK - Free Report) closed the latest trading day at $756.43, indicating a +0.01% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 0.54%. Elsewhere, the Dow lost 0.11%, while the tech-heavy Nasdaq lost 0.84%.

The investment firm's stock has climbed by 14.95% in the past month, exceeding the Finance sector's gain of 10.48% and the S&P 500's gain of 8.62%.

Analysts and investors alike will be keeping a close eye on the performance of BlackRock in its upcoming earnings disclosure. The company's upcoming EPS is projected at $8.73, signifying a 2.24% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $4.57 billion, indicating a 5.43% growth compared to the corresponding quarter of the prior year.

Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $36.44 per share and revenue of $17.8 billion, indicating changes of +3.05% and -0.41%, respectively, compared to the previous year.

Investors should also take note of any recent adjustments to analyst estimates for BlackRock. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.02% upward. BlackRock is currently a Zacks Rank #3 (Hold).

With respect to valuation, BlackRock is currently being traded at a Forward P/E ratio of 20.76. This denotes a premium relative to the industry's average Forward P/E of 11.31.

We can also see that BLK currently has a PEG ratio of 2.37. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Financial - Investment Management stocks are, on average, holding a PEG ratio of 1.3 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 192, putting it in the bottom 24% 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.

Ensure to harness to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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