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BlackRock (BLK) Outpaces Stock Market Gains: What You Should Know
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BlackRock (BLK - Free Report) closed at $695.81 in the latest trading session, marking a +0.69% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.38%. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, added 0.54%.
Heading into today, shares of the investment firm had lost 5.63% over the past month, lagging the Finance sector's loss of 2.21% and the S&P 500's loss of 1.68% in that time.
Wall Street will be looking for positivity from BlackRock as it approaches its next earnings report date. On that day, BlackRock is projected to report earnings of $8.87 per share, which would represent a year-over-year decline of 7.12%. Meanwhile, our latest consensus estimate is calling for revenue of $4.67 billion, up 8.33% from the prior-year quarter.
BLK's full-year Zacks Consensus Estimates are calling for earnings of $35.48 per share and revenue of $18.27 billion. These results would represent year-over-year changes of +0.34% and +2.2%, respectively.
It is also important to note the recent changes to analyst estimates for BlackRock. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.9% higher. BlackRock is currently a Zacks Rank #3 (Hold).
Digging into valuation, BlackRock currently has a Forward P/E ratio of 19.48. For comparison, its industry has an average Forward P/E of 11.79, which means BlackRock is trading at a premium to the group.
We can also see that BLK currently has a PEG ratio of 1.94. 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. The Financial - Investment Management industry currently had an average PEG ratio of 1.43 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 163, putting it in the bottom 36% of all 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) Outpaces Stock Market Gains: What You Should Know
BlackRock (BLK - Free Report) closed at $695.81 in the latest trading session, marking a +0.69% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.38%. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, added 0.54%.
Heading into today, shares of the investment firm had lost 5.63% over the past month, lagging the Finance sector's loss of 2.21% and the S&P 500's loss of 1.68% in that time.
Wall Street will be looking for positivity from BlackRock as it approaches its next earnings report date. On that day, BlackRock is projected to report earnings of $8.87 per share, which would represent a year-over-year decline of 7.12%. Meanwhile, our latest consensus estimate is calling for revenue of $4.67 billion, up 8.33% from the prior-year quarter.
BLK's full-year Zacks Consensus Estimates are calling for earnings of $35.48 per share and revenue of $18.27 billion. These results would represent year-over-year changes of +0.34% and +2.2%, respectively.
It is also important to note the recent changes to analyst estimates for BlackRock. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.9% higher. BlackRock is currently a Zacks Rank #3 (Hold).
Digging into valuation, BlackRock currently has a Forward P/E ratio of 19.48. For comparison, its industry has an average Forward P/E of 11.79, which means BlackRock is trading at a premium to the group.
We can also see that BLK currently has a PEG ratio of 1.94. 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. The Financial - Investment Management industry currently had an average PEG ratio of 1.43 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 163, putting it in the bottom 36% of all 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.