BlackRock (BLK) Advances While Market Declines: Some Information for Investors
BlackRock (BLK) ended the recent trading session at $945.21, demonstrating a +0.02% swing from the preceding day's closing price. The stock outperformed the S&P 500, which registered a daily loss of 0.13%. At the same time, the Dow added 0.33%, and the tech-heavy Nasdaq lost 0.39%.
Prior to today's trading, shares of the investment firm had gained 5.6% over the past month. This has outpaced the Finance sector's gain of 1.5% and the S&P 500's gain of 2.43% in that time.
The investment community will be paying close attention to the earnings performance of BlackRock in its upcoming release. The company is forecasted to report an EPS of $10.30, showcasing a 5.59% downward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.12 billion, indicating a 13.19% increase compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $41.37 per share and revenue of $20.16 billion, indicating changes of +9.53% and +12.89%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for BlackRock. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.07% increase. Currently, BlackRock is carrying a Zacks Rank of #2 (Buy).
In terms of valuation, BlackRock is presently being traded at a Forward P/E ratio of 22.84. This valuation marks a premium compared to its industry's average Forward P/E of 11.15.
It's also important to note that BLK currently trades at a PEG ratio of 2.06. 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 1.19 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 138, putting it in the bottom 46% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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BlackRock, Inc. (BLK) : Free Stock Analysis Report