In the latest trading session, BlackRock (BLK) closed at $1,128.10, marking a -2.38% move from the previous day. This change lagged the S&P 500's daily loss of 0.71%. Meanwhile, the Dow experienced a drop of 0.79%, and the technology-dominated Nasdaq saw a decrease of 1.03%.
The investment firm's stock has climbed by 2.57% in the past month, exceeding the Finance sector's gain of 0.84% and lagging the S&P 500's gain of 2.72%.
Analysts and investors alike will be keeping a close eye on the performance of BlackRock in its upcoming earnings disclosure. The company's upcoming EPS is projected at $14.24, signifying a 23.29% increase compared to the same quarter of the previous 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 annual period, the Zacks Consensus Estimates anticipate earnings of $55.86 per share and a revenue of $28.8 billion, signifying shifts of +16.16% and +18.92%, respectively, from the last year.
Investors should also note any recent changes to analyst estimates for BlackRock. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 past month, the Zacks Consensus EPS estimate has moved 0.41% higher. BlackRock is currently a Zacks Rank #3 (Hold).
Investors should also note BlackRock's current valuation metrics, including its Forward P/E ratio of 20.69. This signifies a premium in comparison to the average Forward P/E of 11.91 for its industry.
It is also worth noting that BLK currently has a PEG ratio of 1.27. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Financial - Investment Management industry held an average PEG ratio of 1.2.
The Financial - Investment Management industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 86, placing it within the top 35% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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BlackRock (BLK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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