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BlackRock (BLK) Stock Falls Amid Market Uptick: What Investors Need to Know
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The most recent trading session ended with BlackRock (BLK - Free Report) standing at $766.17, reflecting a -0.33% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 0.26%. Elsewhere, the Dow gained 0.18%, while the tech-heavy Nasdaq added 0.35%.
The investment firm's shares have seen a decrease of 3.51% over the last month, not keeping up with the Finance sector's gain of 0.75% and the S&P 500's gain of 3.25%.
Investors will be eagerly watching for the performance of BlackRock in its upcoming earnings disclosure. The company is forecasted to report an EPS of $9.96, showcasing a 7.33% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $4.89 billion, up 9.66% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $41.25 per share and revenue of $20.21 billion, indicating changes of +9.21% and +13.19%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for BlackRock. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.24% downward. BlackRock is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, BlackRock is presently being traded at a Forward P/E ratio of 18.64. Its industry sports an average Forward P/E of 10.25, so one might conclude that BlackRock is trading at a premium comparatively.
Also, we should mention that BLK has a PEG ratio of 1.59. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Financial - Investment Management industry held an average PEG ratio of 0.91.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 141, which puts it in the bottom 45% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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BlackRock (BLK) Stock Falls Amid Market Uptick: What Investors Need to Know
The most recent trading session ended with BlackRock (BLK - Free Report) standing at $766.17, reflecting a -0.33% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily gain of 0.26%. Elsewhere, the Dow gained 0.18%, while the tech-heavy Nasdaq added 0.35%.
The investment firm's shares have seen a decrease of 3.51% over the last month, not keeping up with the Finance sector's gain of 0.75% and the S&P 500's gain of 3.25%.
Investors will be eagerly watching for the performance of BlackRock in its upcoming earnings disclosure. The company is forecasted to report an EPS of $9.96, showcasing a 7.33% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $4.89 billion, up 9.66% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $41.25 per share and revenue of $20.21 billion, indicating changes of +9.21% and +13.19%, respectively, compared to the previous year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for BlackRock. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.24% downward. BlackRock is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, BlackRock is presently being traded at a Forward P/E ratio of 18.64. Its industry sports an average Forward P/E of 10.25, so one might conclude that BlackRock is trading at a premium comparatively.
Also, we should mention that BLK has a PEG ratio of 1.59. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Financial - Investment Management industry held an average PEG ratio of 0.91.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 141, which puts it in the bottom 45% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.