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Here's Why BlackRock (BLK) Fell More Than Broader Market
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BlackRock (BLK - Free Report) closed the most recent trading day at $1,114.77, moving -1.1% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.69%. Elsewhere, the Dow saw a downswing of 0.55%, while the tech-heavy Nasdaq depreciated by 0.82%.
The investment firm's stock has climbed by 0.99% in the past month, falling short of the Finance sector's gain of 4.76% and the S&P 500's gain of 3.79%.
The investment community will be paying close attention to the earnings performance of BlackRock in its upcoming release. In that report, analysts expect BlackRock to post earnings of $11.78 per share. This would mark year-over-year growth of 2.79%. At the same time, our most recent consensus estimate is projecting a revenue of $6.26 billion, reflecting a 20.39% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $47.57 per share and a revenue of $23.47 billion, representing changes of +9.08% and +15%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for BlackRock. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.91% higher. Right now, BlackRock possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, BlackRock is holding a Forward P/E ratio of 23.7. This represents a premium compared to its industry average Forward P/E of 12.21.
It is also worth noting that BLK currently has a PEG ratio of 2.16. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Financial - Investment Management was holding an average PEG ratio of 1.31 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 83, putting it in the top 34% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Here's Why BlackRock (BLK) Fell More Than Broader Market
BlackRock (BLK - Free Report) closed the most recent trading day at $1,114.77, moving -1.1% from the previous trading session. The stock's change was less than the S&P 500's daily loss of 0.69%. Elsewhere, the Dow saw a downswing of 0.55%, while the tech-heavy Nasdaq depreciated by 0.82%.
The investment firm's stock has climbed by 0.99% in the past month, falling short of the Finance sector's gain of 4.76% and the S&P 500's gain of 3.79%.
The investment community will be paying close attention to the earnings performance of BlackRock in its upcoming release. In that report, analysts expect BlackRock to post earnings of $11.78 per share. This would mark year-over-year growth of 2.79%. At the same time, our most recent consensus estimate is projecting a revenue of $6.26 billion, reflecting a 20.39% rise from the equivalent quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $47.57 per share and a revenue of $23.47 billion, representing changes of +9.08% and +15%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for BlackRock. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.91% higher. Right now, BlackRock possesses a Zacks Rank of #3 (Hold).
Looking at its valuation, BlackRock is holding a Forward P/E ratio of 23.7. This represents a premium compared to its industry average Forward P/E of 12.21.
It is also worth noting that BLK currently has a PEG ratio of 2.16. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Financial - Investment Management was holding an average PEG ratio of 1.31 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 83, putting it in the top 34% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.