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BlackRock (BLK) Dips More Than Broader Markets: What You Should Know
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BlackRock (BLK - Free Report) closed at $690.95 in the latest trading session, marking a -1.68% move from the prior day. This change lagged the S&P 500's daily loss of 0.47%. Elsewhere, the Dow lost 0.72%, while the tech-heavy Nasdaq lost 5.08%.
Coming into today, shares of the investment firm had gained 4.68% in the past month. In that same time, the Finance sector gained 4.09%, while the S&P 500 gained 5.36%.
BlackRock will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $8.54, up 16.03% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.48 billion, down 0.95% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $34.29 per share and revenue of $18.16 billion. These totals would mark changes of -3.03% and +1.61%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for BlackRock. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained stagnant. BlackRock currently has a Zacks Rank of #3 (Hold).
In terms of valuation, BlackRock is currently trading at a Forward P/E ratio of 20.5. For comparison, its industry has an average Forward P/E of 11.67, which means BlackRock is trading at a premium to the group.
Meanwhile, BLK's PEG ratio is currently 2.14. 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 1.4 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 164, putting it in the bottom 35% 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.
To follow BLK in the coming trading sessions, be sure to utilize Zacks.com.
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BlackRock (BLK) Dips More Than Broader Markets: What You Should Know
BlackRock (BLK - Free Report) closed at $690.95 in the latest trading session, marking a -1.68% move from the prior day. This change lagged the S&P 500's daily loss of 0.47%. Elsewhere, the Dow lost 0.72%, while the tech-heavy Nasdaq lost 5.08%.
Coming into today, shares of the investment firm had gained 4.68% in the past month. In that same time, the Finance sector gained 4.09%, while the S&P 500 gained 5.36%.
BlackRock will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $8.54, up 16.03% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.48 billion, down 0.95% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $34.29 per share and revenue of $18.16 billion. These totals would mark changes of -3.03% and +1.61%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for BlackRock. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained stagnant. BlackRock currently has a Zacks Rank of #3 (Hold).
In terms of valuation, BlackRock is currently trading at a Forward P/E ratio of 20.5. For comparison, its industry has an average Forward P/E of 11.67, which means BlackRock is trading at a premium to the group.
Meanwhile, BLK's PEG ratio is currently 2.14. 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 1.4 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 164, putting it in the bottom 35% 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.
To follow BLK in the coming trading sessions, be sure to utilize Zacks.com.