Yahoo Finance BlackRock (BLK) Dips More Than Broader Markets: What You Should Know
BlackRock (BLK) closed the most recent trading day at $714, moving -0.99% from the previous trading session. This change lagged the S&P 500's 0.16% loss on the day. Elsewhere, the Dow gained 0.01%, while the tech-heavy Nasdaq added 0.09%.
Prior to today's trading, shares of the investment firm had gained 11.65% over the past month. This has outpaced the Finance sector's gain of 3.36% and the S&P 500's gain of 1.83% in that time.
Wall Street will be looking for positivity from BlackRock as it approaches its next earnings report date. The company is expected to report EPS of $7.82, down 24.95% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.24 billion, down 17.03% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $33.88 per share and revenue of $17.77 billion. These totals would mark changes of -13.53% and -8.29%, respectively, from last year.
Any recent changes to analyst estimates for BlackRock should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.06% higher. BlackRock is currently a Zacks Rank #3 (Hold).
In terms of valuation, BlackRock is currently trading at a Forward P/E ratio of 21.29. Its industry sports an average Forward P/E of 10.79, so we one might conclude that BlackRock is trading at a premium comparatively.
It is also worth noting that BLK currently has a PEG ratio of 3.78. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Financial - Investment Management industry currently had an average PEG ratio of 2.04 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
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BlackRock, Inc. (BLK) : Free Stock Analysis Report
