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BlackRock (BLK) Stock Falls Amid Market Uptick: What Investors Need to Know
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In the latest trading session, BlackRock (BLK - Free Report) closed at $782.83, marking a -0.4% move from the previous day. This change lagged the S&P 500's 0.18% gain on the day. Elsewhere, the Dow gained 0.07%, while the tech-heavy Nasdaq added 0.1%.
Coming into today, shares of the investment firm had gained 5.43% in the past month. In that same time, the Finance sector gained 4.37%, while the S&P 500 gained 2.75%.
Investors will be eagerly watching for the performance of BlackRock in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 12, 2024. The company is predicted to post an EPS of $8.75, indicating a 2.02% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $4.57 billion, indicating a 5.44% growth compared to the corresponding quarter of the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for BlackRock. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.5% higher within the past month. At present, BlackRock boasts a Zacks Rank of #3 (Hold).
In the context of valuation, BlackRock is at present trading with a Forward P/E ratio of 20.71. This valuation marks a premium compared to its industry's average Forward P/E of 11.1.
Investors should also note that BLK has a PEG ratio of 2.19 right now. 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. By the end of yesterday's trading, the Financial - Investment Management industry had an average PEG ratio of 1.15.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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BlackRock (BLK) Stock Falls Amid Market Uptick: What Investors Need to Know
In the latest trading session, BlackRock (BLK - Free Report) closed at $782.83, marking a -0.4% move from the previous day. This change lagged the S&P 500's 0.18% gain on the day. Elsewhere, the Dow gained 0.07%, while the tech-heavy Nasdaq added 0.1%.
Coming into today, shares of the investment firm had gained 5.43% in the past month. In that same time, the Finance sector gained 4.37%, while the S&P 500 gained 2.75%.
Investors will be eagerly watching for the performance of BlackRock in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 12, 2024. The company is predicted to post an EPS of $8.75, indicating a 2.02% decline compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $4.57 billion, indicating a 5.44% growth compared to the corresponding quarter of the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for BlackRock. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 0.5% higher within the past month. At present, BlackRock boasts a Zacks Rank of #3 (Hold).
In the context of valuation, BlackRock is at present trading with a Forward P/E ratio of 20.71. This valuation marks a premium compared to its industry's average Forward P/E of 11.1.
Investors should also note that BLK has a PEG ratio of 2.19 right now. 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. By the end of yesterday's trading, the Financial - Investment Management industry had an average PEG ratio of 1.15.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 181, which puts it in the bottom 29% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.