Yahoo Finance BlackRock (BLK) Dips More Than Broader Markets: What You Should Know
BlackRock (BLK) closed at $676.49 in the latest trading session, marking a -0.79% move from the prior day. This move lagged the S&P 500's daily loss of 0.2%. At the same time, the Dow lost 0.59%, and the tech-heavy Nasdaq lost 1.54%.
Coming into today, shares of the investment firm had gained 5.8% in the past month. In that same time, the Finance sector gained 2.29%, while the S&P 500 gained 4.14%.
Wall Street will be looking for positivity from BlackRock as it approaches its next earnings report date. The company is expected to report EPS of $8.52, up 15.76% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $4.49 billion, down 0.72% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $34.43 per share and revenue of $18.23 billion, which would represent changes of -2.63% and +2%, respectively, from the prior year.
Any recent changes to analyst estimates for BlackRock should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.07% lower within the past month. BlackRock currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that BlackRock has a Forward P/E ratio of 19.81 right now. Its industry sports an average Forward P/E of 10.99, so we one might conclude that BlackRock is trading at a premium comparatively.
Also, we should mention that BLK has a PEG ratio of 2.07. 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. BLK's industry had an average PEG ratio of 1.23 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 158, which puts 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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BlackRock, Inc. (BLK) : Free Stock Analysis Report
