In the latest close session, BlackRock (BLK) was down 1.65% at $1,139.82. This move lagged the S&P 500's daily loss of 0.87%. Elsewhere, the Dow saw a downswing of 1.32%, while the tech-heavy Nasdaq depreciated by 1%.
Prior to today's trading, shares of the investment firm had gained 9.68% outpaced the Finance sector's gain of 1.32% and the S&P 500's gain of 3.48%.
Analysts and investors alike will be keeping a close eye on the performance of BlackRock in its upcoming earnings disclosure. The company is predicted to post an EPS of $14.24, indicating a 23.29% growth compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $7.44 billion, reflecting a 14.35% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $55.63 per share and revenue of $28.56 billion, which would represent changes of +15.68% and +17.95%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for BlackRock. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Right now, BlackRock possesses a Zacks Rank of #2 (Buy).
Investors should also note BlackRock's current valuation metrics, including its Forward P/E ratio of 20.83. This expresses a premium compared to the average Forward P/E of 12.47 of its industry.
Investors should also note that BLK has a PEG ratio of 1.31 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Financial - Investment Management industry stood at 1.18 at the close of the market yesterday.
The Financial - Investment Management industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 68, placing it within the top 28% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention.Â
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Â
Originally published on zacks.com, part of the BLOX Digital Content Exchange.
Please disable your ad blocker, whitelist our site, or purchase a subscription
Sorry, an error occurred.
Already Subscribed!
Cancel anytime
Thank you .
Your account has been registered, and you are now logged in.
Check your email for details.
Submitting this form below will send a message to your email with a link to change your password.
An email message containing instructions on how to reset your password has been sent to the email address listed on your account.
No promotional rates found.
Secure & Encrypted
Thank you.
Your gift purchase was successful! Your purchase was successful, and you are now logged in.
| Rate: | |
| Begins: | |
| Transaction ID: |
A receipt was sent to your email.
(0) comments
Welcome to the discussion.
Log In
Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.