In the latest close session, BlackRock (BLK) was up +1.73% at $1,011.96. The stock's change was more than the S&P 500's daily loss of 0.26%. Elsewhere, the Dow gained 0.17%, while the tech-heavy Nasdaq lost 0.97%.
The investment firm's shares have seen a decrease of 8% over the last month, not keeping up with the Finance sector's gain of 0.29% and the S&P 500's gain of 0.23%.
The upcoming earnings release of BlackRock will be of great interest to investors. In that report, analysts expect BlackRock to post earnings of $12.53 per share. This would mark year-over-year growth of 3.98%. At the same time, our most recent consensus estimate is projecting a revenue of $6.67 billion, reflecting a 23.03% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $52.8 per share and revenue of $27.65 billion, which would represent changes of +9.79% and +14.19%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for BlackRock. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
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.
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. Within the past 30 days, our consensus EPS projection has moved 0.06% higher. BlackRock is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, BlackRock is holding a Forward P/E ratio of 18.84. This represents a premium compared to its industry average Forward P/E of 11.24.
It is also worth noting that BLK currently has a PEG ratio of 1.29. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Financial - Investment Management was holding an average PEG ratio of 1.06 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 201, placing it within the bottom 18% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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This article originally published on Zacks Investment Research (zacks.com).