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BlackRock (BLK) Outpaces Stock Market Gains: What You Should Know
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BlackRock (BLK - Free Report) ended the recent trading session at $1,090.27, demonstrating a +1.92% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 1.49%. On the other hand, the Dow registered a gain of 0.71%, and the technology-centric Nasdaq increased by 2.26%.
The investment firm's shares have seen a decrease of 7.5% over the last month, not keeping up with the Finance sector's loss of 2.25% and the S&P 500's gain of 0.1%.
Investors will be eagerly watching for the performance of BlackRock in its upcoming earnings disclosure. The company is forecasted to report an EPS of $14.24, showcasing a 23.29% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $7.44 billion, showing a 14.26% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $55.96 per share and revenue of $28.82 billion, which would represent changes of +16.37% and +19.02%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for BlackRock. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.59% higher within the past month. BlackRock is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, BlackRock is currently trading at a Forward P/E ratio of 19.12. Its industry sports an average Forward P/E of 11.2, so one might conclude that BlackRock is trading at a premium comparatively.
Investors should also note that BLK has a PEG ratio of 1.18 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Financial - Investment Management was holding an average PEG ratio of 1.07 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 168, positioning it in the bottom 32% 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.
To follow BLK in the coming trading sessions, be sure to utilize Zacks.com.
View the Zacks #1 Rank List
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BlackRock (BLK) Outpaces Stock Market Gains: What You Should Know
BlackRock (BLK - Free Report) ended the recent trading session at $1,090.27, demonstrating a +1.92% change from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily gain of 1.49%. On the other hand, the Dow registered a gain of 0.71%, and the technology-centric Nasdaq increased by 2.26%.
The investment firm's shares have seen a decrease of 7.5% over the last month, not keeping up with the Finance sector's loss of 2.25% and the S&P 500's gain of 0.1%.
Investors will be eagerly watching for the performance of BlackRock in its upcoming earnings disclosure. The company is forecasted to report an EPS of $14.24, showcasing a 23.29% upward movement from the corresponding quarter of the prior year. Simultaneously, our latest consensus estimate expects the revenue to be $7.44 billion, showing a 14.26% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $55.96 per share and revenue of $28.82 billion, which would represent changes of +16.37% and +19.02%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for BlackRock. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.59% higher within the past month. BlackRock is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, BlackRock is currently trading at a Forward P/E ratio of 19.12. Its industry sports an average Forward P/E of 11.2, so one might conclude that BlackRock is trading at a premium comparatively.
Investors should also note that BLK has a PEG ratio of 1.18 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Financial - Investment Management was holding an average PEG ratio of 1.07 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 168, positioning it in the bottom 32% 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.
To follow BLK in the coming trading sessions, be sure to utilize Zacks.com.