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BlackRock (BLK) Stock Moves -1.71%: What You Should Know

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In the latest trading session, BlackRock (BLK - Free Report) closed at $886.43, marking a -1.71% move from the previous day. The stock's change was more than the S&P 500's daily loss of 2.12%. At the same time, the Dow lost 1.51%, and the tech-heavy Nasdaq lost 3.26%.

Shares of the investment firm witnessed a gain of 8.55% over the previous month, beating the performance of the Finance sector with its gain of 7.46% and the S&P 500's gain of 5.78%.

The investment community will be paying close attention to the earnings performance of BlackRock in its upcoming release. In that report, analysts expect BlackRock to post earnings of $10.29 per share. This would mark a year-over-year decline of 5.68%. Meanwhile, the latest consensus estimate predicts the revenue to be $5.11 billion, indicating a 13.09% increase compared to the same quarter of the previous year.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $41.34 per share and a revenue of $20.14 billion, representing changes of +9.45% and +12.75%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.06% increase. BlackRock presently features a Zacks Rank of #3 (Hold).

With respect to valuation, BlackRock is currently being traded at a Forward P/E ratio of 21.82. This represents a premium compared to its industry's average Forward P/E of 11.4.

It's also important to note that BLK currently trades at a PEG ratio of 1.97. 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. Financial - Investment Management stocks are, on average, holding a PEG ratio of 1.12 based on yesterday's closing prices.

The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 170, which puts it in the bottom 33% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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