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BlackRock (BLK) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, BlackRock (BLK - Free Report) closed at $659.82, marking a +0.52% move from the previous day. This move outpaced the S&P 500's daily gain of 0.1%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, lost 2.19%.
Heading into today, shares of the investment firm had gained 3.37% over the past month, outpacing the Finance sector's loss of 4.8% and the S&P 500's gain of 3.13% in that time.
Investors will be hoping for strength from BlackRock as it approaches its next earnings release, which is expected to be April 14, 2023. On that day, BlackRock is projected to report earnings of $7.90 per share, which would represent a year-over-year decline of 17.02%. Our most recent consensus estimate is calling for quarterly revenue of $4.24 billion, down 9.86% from the year-ago period.
BLK's full-year Zacks Consensus Estimates are calling for earnings of $34.84 per share and revenue of $18.16 billion. These results would represent year-over-year changes of -1.47% and +1.61%, respectively.
It is also important to note the recent changes to analyst estimates for BlackRock. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. BlackRock is currently a Zacks Rank #2 (Buy).
Looking at its valuation, BlackRock is holding a Forward P/E ratio of 18.84. For comparison, its industry has an average Forward P/E of 10.32, which means BlackRock is trading at a premium to the group.
Investors should also note that BLK has a PEG ratio of 2.21 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Financial - Investment Management stocks are, on average, holding a PEG ratio of 1.3 based on yesterday's closing prices.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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BlackRock (BLK) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, BlackRock (BLK - Free Report) closed at $659.82, marking a +0.52% move from the previous day. This move outpaced the S&P 500's daily gain of 0.1%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, lost 2.19%.
Heading into today, shares of the investment firm had gained 3.37% over the past month, outpacing the Finance sector's loss of 4.8% and the S&P 500's gain of 3.13% in that time.
Investors will be hoping for strength from BlackRock as it approaches its next earnings release, which is expected to be April 14, 2023. On that day, BlackRock is projected to report earnings of $7.90 per share, which would represent a year-over-year decline of 17.02%. Our most recent consensus estimate is calling for quarterly revenue of $4.24 billion, down 9.86% from the year-ago period.
BLK's full-year Zacks Consensus Estimates are calling for earnings of $34.84 per share and revenue of $18.16 billion. These results would represent year-over-year changes of -1.47% and +1.61%, respectively.
It is also important to note the recent changes to analyst estimates for BlackRock. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, 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. Over the past month, the Zacks Consensus EPS estimate remained stagnant. BlackRock is currently a Zacks Rank #2 (Buy).
Looking at its valuation, BlackRock is holding a Forward P/E ratio of 18.84. For comparison, its industry has an average Forward P/E of 10.32, which means BlackRock is trading at a premium to the group.
Investors should also note that BLK has a PEG ratio of 2.21 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Financial - Investment Management stocks are, on average, holding a PEG ratio of 1.3 based on yesterday's closing prices.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% of all 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.