BlackRock (BLK) closed the most recent trading day at $1,148.17, moving +2.08% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 1.52% for the day. Elsewhere, the Dow gained 1.89%, while the tech-heavy Nasdaq added 1.88%.
Coming into today, shares of the investment firm had gained 0.57% in the past month. In that same time, the Finance sector gained 1.71%, while the S&P 500 gained 1.1%.
Investors will be eagerly watching for 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%. At the same time, our most recent consensus estimate is projecting a revenue of $6.26 billion, reflecting a 20.39% rise from the equivalent quarter last year.
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 note any recent changes to analyst estimates for BlackRock. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 shifted 0.91% upward. BlackRock is currently a Zacks Rank #3 (Hold).
Looking at its valuation, BlackRock is holding a Forward P/E ratio of 23.65. This signifies a premium in comparison to the average Forward P/E of 11.79 for its industry.
It is also worth noting that BLK currently has a PEG ratio of 2.15. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Financial – Investment Management industry held an average PEG ratio of 1.31.
The Financial – Investment Management industry is part of the Finance sector. With its current Zacks Industry Rank of 64, this industry ranks in the top 26% of all industries, numbering over 250.
