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BlackRock (BLK) Dips More Than Broader Markets: What You Should Know
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BlackRock (BLK - Free Report) closed the most recent trading day at $680.63, moving -1.76% from the previous trading session. This change lagged the S&P 500's 0.79% loss on the day. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 2.71%.
Heading into today, shares of the investment firm had gained 2.15% over the past month, lagging the Finance sector's gain of 3.99% and the S&P 500's gain of 4.16% in that time.
BlackRock will be looking to display strength as it nears its next earnings release, which is expected to be July 14, 2023. 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $34.15 per share and revenue of $18.16 billion, which would represent changes of -3.42% and +1.61%, respectively, from the prior year.
Any recent changes to analyst estimates for BlackRock should also be noted by investors. 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.
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. The Zacks Consensus EPS estimate has moved 0.4% lower within the past month. BlackRock is currently a Zacks Rank #4 (Sell).
In terms of valuation, BlackRock is currently trading at a Forward P/E ratio of 20.29. This valuation marks a premium compared to its industry's average Forward P/E of 11.34.
We can also see that BLK currently has a PEG ratio of 2.12. 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. The Financial - Investment Management was holding an average PEG ratio of 1.39 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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BlackRock (BLK) Dips More Than Broader Markets: What You Should Know
BlackRock (BLK - Free Report) closed the most recent trading day at $680.63, moving -1.76% from the previous trading session. This change lagged the S&P 500's 0.79% loss on the day. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 2.71%.
Heading into today, shares of the investment firm had gained 2.15% over the past month, lagging the Finance sector's gain of 3.99% and the S&P 500's gain of 4.16% in that time.
BlackRock will be looking to display strength as it nears its next earnings release, which is expected to be July 14, 2023. 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.
For the full year, our Zacks Consensus Estimates are projecting earnings of $34.15 per share and revenue of $18.16 billion, which would represent changes of -3.42% and +1.61%, respectively, from the prior year.
Any recent changes to analyst estimates for BlackRock should also be noted by investors. 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.
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. The Zacks Consensus EPS estimate has moved 0.4% lower within the past month. BlackRock is currently a Zacks Rank #4 (Sell).
In terms of valuation, BlackRock is currently trading at a Forward P/E ratio of 20.29. This valuation marks a premium compared to its industry's average Forward P/E of 11.34.
We can also see that BLK currently has a PEG ratio of 2.12. 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. The Financial - Investment Management was holding an average PEG ratio of 1.39 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.