In This Article:
BlackRock (BLK) closed the latest trading day at $989.38, indicating a +0.31% change from the previous session's end. This move outpaced the S&P 500's daily loss of 0.43%. Meanwhile, the Dow experienced a drop of 1.01%, and the technology-dominated Nasdaq saw a decrease of 0.47%.
Shares of the investment firm witnessed a loss of 1.99% over the previous month, trailing the performance of the Finance sector with its gain of 3.13% and the S&P 500's gain of 2.6%.
The investment community will be paying close attention to the earnings performance of BlackRock in its upcoming release. The company is predicted to post an EPS of $10.83, indicating a 10.4% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $5.49 billion, showing a 16.07% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $47.44 per share and a revenue of $23.67 billion, demonstrating changes of +8.78% and +16.01%, respectively, from the preceding year.
Investors might also notice recent changes to analyst estimates for BlackRock. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 witnessed a 0.01% increase. As of now, BlackRock holds a Zacks Rank of #3 (Hold).
Investors should also note BlackRock's current valuation metrics, including its Forward P/E ratio of 20.79. This expresses a premium compared to the average Forward P/E of 10.57 of its industry.
We can also see that BLK currently has a PEG ratio of 1.89. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Financial - Investment Management industry had an average PEG ratio of 1.18.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 159, putting it in the bottom 37% of all 250+ industries.