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BlackRock (BLK) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, BlackRock (BLK - Free Report) closed at $713, marking a -1.55% move from the previous day. This move lagged the S&P 500's daily loss of 1.38%. Elsewhere, the Dow lost 1.26%, while the tech-heavy Nasdaq lost 5.67%.
Coming into today, shares of the investment firm had lost 3.1% in the past month. In that same time, the Finance sector gained 1.97%, while the S&P 500 gained 3.87%.
Wall Street will be looking for positivity from BlackRock as it approaches its next earnings report date. On that day, BlackRock is projected to report earnings of $7.96 per share, which would represent a year-over-year decline of 16.39%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.29 billion, down 8.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $34.53 per share and revenue of $18.25 billion, which would represent changes of -2.35% and +2.08%, 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 company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.5% higher. BlackRock is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, BlackRock is currently trading at a Forward P/E ratio of 20.97. Its industry sports an average Forward P/E of 12.02, so we one might conclude that BlackRock is trading at a premium comparatively.
Also, we should mention that BLK has a PEG ratio of 2.44. 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. BLK's industry had an average PEG ratio of 1.72 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 56, which puts it in the top 23% 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 (BLK) Dips More Than Broader Markets: What You Should Know
In the latest trading session, BlackRock (BLK - Free Report) closed at $713, marking a -1.55% move from the previous day. This move lagged the S&P 500's daily loss of 1.38%. Elsewhere, the Dow lost 1.26%, while the tech-heavy Nasdaq lost 5.67%.
Coming into today, shares of the investment firm had lost 3.1% in the past month. In that same time, the Finance sector gained 1.97%, while the S&P 500 gained 3.87%.
Wall Street will be looking for positivity from BlackRock as it approaches its next earnings report date. On that day, BlackRock is projected to report earnings of $7.96 per share, which would represent a year-over-year decline of 16.39%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.29 billion, down 8.79% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $34.53 per share and revenue of $18.25 billion, which would represent changes of -2.35% and +2.08%, 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 company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.5% higher. BlackRock is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, BlackRock is currently trading at a Forward P/E ratio of 20.97. Its industry sports an average Forward P/E of 12.02, so we one might conclude that BlackRock is trading at a premium comparatively.
Also, we should mention that BLK has a PEG ratio of 2.44. 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. BLK's industry had an average PEG ratio of 1.72 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 56, which puts it in the top 23% 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.