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Here's Why BlackRock (BLK) Gained But Lagged the Market Today
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BlackRock (BLK - Free Report) ended the recent trading session at $802.30, demonstrating a +0.26% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.57%. Meanwhile, the Dow gained 0.83%, and the Nasdaq, a tech-heavy index, added 0.39%.
Coming into today, shares of the investment firm had gained 0.79% in the past month. In that same time, the Finance sector gained 2.81%, while the S&P 500 gained 2.97%.
The investment community will be paying close attention to the earnings performance of BlackRock in its upcoming release. On that day, BlackRock is projected to report earnings of $9.23 per share, which would represent year-over-year growth of 16.39%. Alongside, our most recent consensus estimate is anticipating revenue of $4.65 billion, indicating a 9.71% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $39.73 per share and a revenue of $20 billion, representing changes of +5.19% and +11.97%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for BlackRock. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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, there's been a 0.23% rise in the Zacks Consensus EPS estimate. BlackRock is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, BlackRock is at present trading with a Forward P/E ratio of 20.14. This represents a premium compared to its industry's average Forward P/E of 10.82.
We can additionally observe that BLK currently boasts a PEG ratio of 1.76. 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. By the end of yesterday's trading, the Financial - Investment Management industry had an average PEG ratio of 0.9.
The Financial - Investment Management industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 28, positioning it in the top 12% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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Here's Why BlackRock (BLK) Gained But Lagged the Market Today
BlackRock (BLK - Free Report) ended the recent trading session at $802.30, demonstrating a +0.26% swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.57%. Meanwhile, the Dow gained 0.83%, and the Nasdaq, a tech-heavy index, added 0.39%.
Coming into today, shares of the investment firm had gained 0.79% in the past month. In that same time, the Finance sector gained 2.81%, while the S&P 500 gained 2.97%.
The investment community will be paying close attention to the earnings performance of BlackRock in its upcoming release. On that day, BlackRock is projected to report earnings of $9.23 per share, which would represent year-over-year growth of 16.39%. Alongside, our most recent consensus estimate is anticipating revenue of $4.65 billion, indicating a 9.71% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $39.73 per share and a revenue of $20 billion, representing changes of +5.19% and +11.97%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for BlackRock. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
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, there's been a 0.23% rise in the Zacks Consensus EPS estimate. BlackRock is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, BlackRock is at present trading with a Forward P/E ratio of 20.14. This represents a premium compared to its industry's average Forward P/E of 10.82.
We can additionally observe that BLK currently boasts a PEG ratio of 1.76. 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. By the end of yesterday's trading, the Financial - Investment Management industry had an average PEG ratio of 0.9.
The Financial - Investment Management industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 28, positioning it in the top 12% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.