BlackRock (BLK) closed at $1,134.18 in the latest trading session, marking a +2.84% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.85%. Elsewhere, the Dow gained 1.36%, while the tech-heavy Nasdaq added 0.72%.
Heading into today, shares of the investment firm had lost 4.93% over the past month, lagging the Finance sector's gain of 2.7% and the S&P 500's gain of 2.38%.
Analysts and investors alike will be keeping a close eye on the performance of BlackRock in its upcoming earnings disclosure. On that day, BlackRock is projected to report earnings of $11.78 per share, which would represent year-over-year growth of 2.79%. Meanwhile, our latest consensus estimate is calling for revenue of $6.26 billion, up 20.39% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $47.57 per share and revenue of $23.47 billion. These totals would mark changes of +9.08% and +15%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for BlackRock. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.46% higher. Currently, BlackRock is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, BlackRock currently has a Forward P/E ratio of 23.19. This expresses a premium compared to the average Forward P/E of 12.22 of its industry.
Investors should also note that BLK has a PEG ratio of 2.11 right now. 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 had an average PEG ratio of 1.29 as trading concluded yesterday.
The Financial – Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 37% of all 250+ industries.
