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BlackRock (BLK) Stock Sinks As Market Gains: What You Should Know
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BlackRock (BLK - Free Report) closed the most recent trading day at $682.38, moving -0.3% from the previous trading session. This change lagged the S&P 500's 0.93% gain on the day. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 1.71%.
Coming into today, shares of the investment firm had gained 6.09% in the past month. In that same time, the Finance sector gained 3.55%, while the S&P 500 gained 4.61%.
Wall Street will be looking for positivity from BlackRock as it approaches its next earnings report date. In that report, analysts expect BlackRock to post earnings of $8.54 per share. This would mark year-over-year growth of 16.03%. Meanwhile, our latest consensus estimate is calling for revenue of $4.48 billion, down 0.95% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $34.29 per share and revenue of $18.16 billion, which would represent changes of -3.03% and +1.61%, respectively, from the prior year.
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. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.09% lower. BlackRock is currently a Zacks Rank #3 (Hold).
Investors should also note BlackRock's current valuation metrics, including its Forward P/E ratio of 19.96. Its industry sports an average Forward P/E of 11.51, so we one might conclude that BlackRock is trading at a premium comparatively.
Also, we should mention that BLK has a PEG ratio of 2.08. 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. BLK's industry had an average PEG ratio of 1.26 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow BLK in the coming trading sessions, be sure to utilize Zacks.com.
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BlackRock (BLK) Stock Sinks As Market Gains: What You Should Know
BlackRock (BLK - Free Report) closed the most recent trading day at $682.38, moving -0.3% from the previous trading session. This change lagged the S&P 500's 0.93% gain on the day. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq gained 1.71%.
Coming into today, shares of the investment firm had gained 6.09% in the past month. In that same time, the Finance sector gained 3.55%, while the S&P 500 gained 4.61%.
Wall Street will be looking for positivity from BlackRock as it approaches its next earnings report date. In that report, analysts expect BlackRock to post earnings of $8.54 per share. This would mark year-over-year growth of 16.03%. Meanwhile, our latest consensus estimate is calling for revenue of $4.48 billion, down 0.95% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $34.29 per share and revenue of $18.16 billion, which would represent changes of -3.03% and +1.61%, respectively, from the prior year.
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. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.09% lower. BlackRock is currently a Zacks Rank #3 (Hold).
Investors should also note BlackRock's current valuation metrics, including its Forward P/E ratio of 19.96. Its industry sports an average Forward P/E of 11.51, so we one might conclude that BlackRock is trading at a premium comparatively.
Also, we should mention that BLK has a PEG ratio of 2.08. 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. BLK's industry had an average PEG ratio of 1.26 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 158, putting it in the bottom 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow BLK in the coming trading sessions, be sure to utilize Zacks.com.