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BlackRock (BLK) Stock Slides as Market Rises: Facts to Know Before You Trade
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The latest trading session saw BlackRock (BLK - Free Report) ending at $870.21, denoting a -0.26% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.97%. Elsewhere, the Dow gained 0.58%, while the tech-heavy Nasdaq added 1.39%.
Heading into today, shares of the investment firm had gained 5.03% over the past month, outpacing the Finance sector's loss of 0.47% and the S&P 500's loss of 1.85% in that time.
Analysts and investors alike will be keeping a close eye on the performance of BlackRock in its upcoming earnings disclosure. The company's upcoming EPS is projected at $10.27, signifying a 5.87% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.12 billion, up 13.15% from the year-ago period.
BLK's full-year Zacks Consensus Estimates are calling for earnings of $41.34 per share and revenue of $20.14 billion. These results would represent year-over-year changes of +9.45% and +12.77%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for BlackRock. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.28% higher. BlackRock is currently a Zacks Rank #3 (Hold).
Investors should also note BlackRock's current valuation metrics, including its Forward P/E ratio of 21.11. This indicates a premium in contrast to its industry's Forward P/E of 10.61.
Meanwhile, BLK's PEG ratio is currently 1.93. 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 average PEG ratio for the Financial - Investment Management industry stood at 1.07 at the close of the market yesterday.
The Financial - Investment Management industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 171, placing it within the bottom 33% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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) Stock Slides as Market Rises: Facts to Know Before You Trade
The latest trading session saw BlackRock (BLK - Free Report) ending at $870.21, denoting a -0.26% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.97%. Elsewhere, the Dow gained 0.58%, while the tech-heavy Nasdaq added 1.39%.
Heading into today, shares of the investment firm had gained 5.03% over the past month, outpacing the Finance sector's loss of 0.47% and the S&P 500's loss of 1.85% in that time.
Analysts and investors alike will be keeping a close eye on the performance of BlackRock in its upcoming earnings disclosure. The company's upcoming EPS is projected at $10.27, signifying a 5.87% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $5.12 billion, up 13.15% from the year-ago period.
BLK's full-year Zacks Consensus Estimates are calling for earnings of $41.34 per share and revenue of $20.14 billion. These results would represent year-over-year changes of +9.45% and +12.77%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for BlackRock. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.28% higher. BlackRock is currently a Zacks Rank #3 (Hold).
Investors should also note BlackRock's current valuation metrics, including its Forward P/E ratio of 21.11. This indicates a premium in contrast to its industry's Forward P/E of 10.61.
Meanwhile, BLK's PEG ratio is currently 1.93. 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 average PEG ratio for the Financial - Investment Management industry stood at 1.07 at the close of the market yesterday.
The Financial - Investment Management industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 171, placing it within the bottom 33% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual 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.