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BlackRock (BLK) closed the latest trading day at $951.79, indicating a -1.52% change from the previous session's end. This change lagged the S&P 500's 1.22% loss on the day. Meanwhile, the Dow lost 1.55%, and the Nasdaq, a tech-heavy index, lost 0.35%.
Heading into today, shares of the investment firm had lost 4.66% over the past month, lagging the Finance sector's gain of 0.91% and the S&P 500's loss of 2.31% in that time.
Investors will be eagerly watching for the performance of BlackRock in its upcoming earnings disclosure. The company is forecasted to report an EPS of $10.84, showcasing a 10.5% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $5.49 billion, up 16.04% from the year-ago period.
BLK's full-year Zacks Consensus Estimates are calling for earnings of $47.41 per share and revenue of $23.66 billion. These results would represent year-over-year changes of +8.71% and +15.95%, respectively.
Investors might also notice recent changes to analyst estimates for BlackRock. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.07% lower. At present, BlackRock boasts a Zacks Rank of #3 (Hold).
Looking at its valuation, BlackRock is holding a Forward P/E ratio of 20.38. This represents a premium compared to its industry's average Forward P/E of 10.33.
We can also see that BLK currently has a PEG ratio of 1.86. 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 1.06.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 158, which puts it in the bottom 38% of all 250+ industries.