In the latest trading session, BlackRock (BLK - Free Report) closed at $419.90, marking a +1.04% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.28%. Meanwhile, the Dow gained 0.02%, and the Nasdaq, a tech-heavy index, lost 1.61%.
Heading into today, shares of the investment firm had lost 10.46% over the past month, lagging the Finance sector's loss of 5.8% and the S&P 500's loss of 6.3% in that time.
Wall Street will be looking for positivity from BLK as it approaches its next earnings report date. On that day, BLK is projected to report earnings of $6.82 per share, which would represent year-over-year growth of 2.4%. Meanwhile, our latest consensus estimate is calling for revenue of $3.55 billion, down 1.55% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $27.79 per share and revenue of $14.38 billion. These totals would mark changes of +3.19% and +1.29%, respectively, from last year.
Any recent changes to analyst estimates for BLK should also be noted by investors. 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 company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team 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.
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 0.43% higher. BLK currently has a Zacks Rank of #1 (Strong Buy).
Digging into valuation, BLK currently has a Forward P/E ratio of 14.96. For comparison, its industry has an average Forward P/E of 11.63, which means BLK is trading at a premium to the group.
We can also see that BLK currently has a PEG ratio of 1.5. 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. Financial - Investment Management stocks are, on average, holding a PEG ratio of 1.54 based on yesterday's closing prices.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 47, which puts it in the top 19% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.