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BlackRock (BLK) Outpaces Stock Market Gains: What You Should Know
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BlackRock (BLK - Free Report) closed the latest trading day at $648.26, indicating a +1.24% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 1.18%. On the other hand, the Dow registered a gain of 0.87%, and the technology-centric Nasdaq increased by 1.6%.
The investment firm's shares have seen a decrease of 7.35% over the last month, not keeping up with the Finance sector's loss of 4.4% and the S&P 500's loss of 5.17%.
The investment community will be closely monitoring the performance of BlackRock in its forthcoming earnings report. The company is scheduled to release its earnings on October 13, 2023. On that day, BlackRock is projected to report earnings of $8.73 per share, which would represent a year-over-year decline of 8.59%. In the meantime, our current consensus estimate forecasts the revenue to be $4.67 billion, indicating an 8.38% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $35.30 per share and a revenue of $18.28 billion, indicating changes of -0.17% and +2.28%, respectively, from the former year.
Any recent changes to analyst estimates for BlackRock should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.5% lower. At present, BlackRock boasts a Zacks Rank of #3 (Hold).
Looking at valuation, BlackRock is presently trading at a Forward P/E ratio of 18.14. This expresses a premium compared to the average Forward P/E of 10.68 of its industry.
Investors should also note that BLK has a PEG ratio of 1.97 right now. 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 1.33 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 27% 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) Outpaces Stock Market Gains: What You Should Know
BlackRock (BLK - Free Report) closed the latest trading day at $648.26, indicating a +1.24% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 1.18%. On the other hand, the Dow registered a gain of 0.87%, and the technology-centric Nasdaq increased by 1.6%.
The investment firm's shares have seen a decrease of 7.35% over the last month, not keeping up with the Finance sector's loss of 4.4% and the S&P 500's loss of 5.17%.
The investment community will be closely monitoring the performance of BlackRock in its forthcoming earnings report. The company is scheduled to release its earnings on October 13, 2023. On that day, BlackRock is projected to report earnings of $8.73 per share, which would represent a year-over-year decline of 8.59%. In the meantime, our current consensus estimate forecasts the revenue to be $4.67 billion, indicating an 8.38% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $35.30 per share and a revenue of $18.28 billion, indicating changes of -0.17% and +2.28%, respectively, from the former year.
Any recent changes to analyst estimates for BlackRock should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.5% lower. At present, BlackRock boasts a Zacks Rank of #3 (Hold).
Looking at valuation, BlackRock is presently trading at a Forward P/E ratio of 18.14. This expresses a premium compared to the average Forward P/E of 10.68 of its industry.
Investors should also note that BLK has a PEG ratio of 1.97 right now. 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 1.33 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 27% 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.