BlackRock (BLK) Gains But Lags Market: What You Should Know
BlackRock (BLK) closed at $929.19 in the latest trading session, marking a +0.14% move from the prior day.
BlackRock (BLK) closed at $929.19 in the latest trading session, marking a +0.14% move from the prior day. This move lagged the S&P 500's daily gain of 0.15%.
Prior to today's trading, shares of the investment firm had gained 6.47% over the past month. This has outpaced the Finance sector's gain of 2.62% and the S&P 500's gain of 1.68% in that time.
Investors will be hoping for strength from BLK as it approaches its next earnings release. The company is expected to report EPS of $9.87, up 7.05% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.98 billion, up 14.03% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $38.18 per share and revenue of $19.38 billion, which would represent changes of +12.89% and +19.58%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for BLK. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 0.36% higher. BLK is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that BLK has a Forward P/E ratio of 24.3 right now. This represents a premium compared to its industry's average Forward P/E of 12.02.
It is also worth noting that BLK currently has a PEG ratio of 2.43. 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. BLK's industry had an average PEG ratio of 1.02 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 71, putting it in the top 28% 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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