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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 $801.38, marking a +0.62% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.59%. Elsewhere, the Dow saw an upswing of 0.68%, while the tech-heavy Nasdaq appreciated by 0.66%.
Coming into today, shares of the investment firm had gained 10.48% in the past month. In that same time, the Finance sector gained 7.84%, while the S&P 500 gained 5.16%.
Analysts and investors alike will be keeping a close eye on the performance of BlackRock in its upcoming earnings disclosure. The company is predicted to post an EPS of $8.73, indicating a 2.24% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.57 billion, up 5.43% from the year-ago period.
BLK's full-year Zacks Consensus Estimates are calling for earnings of $36.85 per share and revenue of $17.8 billion. These results would represent year-over-year changes of +4.21% and -0.41%, respectively.
It is also important to note the recent changes to analyst estimates for BlackRock. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. BlackRock is currently a Zacks Rank #3 (Hold).
In the context of valuation, BlackRock is at present trading with a Forward P/E ratio of 21.61. This signifies a premium in comparison to the average Forward P/E of 12.44 for its industry.
It's also important to note that BLK currently trades at a PEG ratio of 2.47. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Financial - Investment Management industry stood at 1.35 at the close of the market yesterday.
The Financial - Investment Management industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 158, positioning 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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, BlackRock (BLK - Free Report) closed at $801.38, marking a +0.62% move from the previous day. The stock's change was more than the S&P 500's daily gain of 0.59%. Elsewhere, the Dow saw an upswing of 0.68%, while the tech-heavy Nasdaq appreciated by 0.66%.
Coming into today, shares of the investment firm had gained 10.48% in the past month. In that same time, the Finance sector gained 7.84%, while the S&P 500 gained 5.16%.
Analysts and investors alike will be keeping a close eye on the performance of BlackRock in its upcoming earnings disclosure. The company is predicted to post an EPS of $8.73, indicating a 2.24% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.57 billion, up 5.43% from the year-ago period.
BLK's full-year Zacks Consensus Estimates are calling for earnings of $36.85 per share and revenue of $17.8 billion. These results would represent year-over-year changes of +4.21% and -0.41%, respectively.
It is also important to note the recent changes to analyst estimates for BlackRock. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. BlackRock is currently a Zacks Rank #3 (Hold).
In the context of valuation, BlackRock is at present trading with a Forward P/E ratio of 21.61. This signifies a premium in comparison to the average Forward P/E of 12.44 for its industry.
It's also important to note that BLK currently trades at a PEG ratio of 2.47. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Financial - Investment Management industry stood at 1.35 at the close of the market yesterday.
The Financial - Investment Management industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 158, positioning 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.