In the latest trading session, BlackRock (BLK) closed at $1,131.78, marking a +1.15% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.1%. Meanwhile, the Dow gained 0.57%, and the Nasdaq, a tech-heavy index, lost 0.33%.
The investment firm's shares have seen a decrease of 0.85% over the last month, not keeping up with the Finance sector's gain of 2.52% and the S&P 500's gain of 2.57%.
Investors will be eagerly watching for the performance of BlackRock in its upcoming earnings disclosure. The company is predicted to post an EPS of $11.78, indicating a 2.79% growth compared to the equivalent quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $6.26 billion, showing a 20.39% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $47.57 per share and a revenue of $23.47 billion, signifying shifts of +9.08% and +15%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for BlackRock. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the business 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.47% rise in the Zacks Consensus EPS estimate. BlackRock is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, BlackRock is currently being traded at a Forward P/E ratio of 23.52. This indicates a premium in contrast to its industry's Forward P/E of 12.21.
It is also worth noting that BLK currently has a PEG ratio of 2.14. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Financial – Investment Management industry was having an average PEG ratio of 1.31.
The Financial – Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 42% of all 250+ industries.
