Yahoo Finance BlackRock (BLK) Dips More Than Broader Markets: What You Should Know
BlackRock (BLK) closed at $571.61 in the latest trading session, marking a -1.98% move from the prior day. This change lagged the S&P 500's 1.03% loss on the day. At the same time, the Dow lost 1.15%, and the tech-heavy Nasdaq gained 0.27%.
Coming into today, shares of the investment firm had lost 13.51% in the past month. In that same time, the Finance sector lost 3.21%, while the S&P 500 lost 3.51%.
BlackRock will be looking to display strength as it nears its next earnings release, which is expected to be October 13, 2022. The company is expected to report EPS of $8.19, down 25.21% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $4.52 billion, down 10.53% from the year-ago period.
BLK's full-year Zacks Consensus Estimates are calling for earnings of $33.03 per share and revenue of $18.18 billion. These results would represent year-over-year changes of -15.7% and -6.16%, respectively.
It is also important to note the recent changes to analyst estimates for BlackRock. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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, the Zacks Consensus EPS estimate has moved 1.47% lower. BlackRock is currently a Zacks Rank #3 (Hold).
In terms of valuation, BlackRock is currently trading at a Forward P/E ratio of 17.66. This represents a premium compared to its industry's average Forward P/E of 8.94.
Meanwhile, BLK's PEG ratio is currently 3.14. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Financial - Investment Management industry currently had an average PEG ratio of 1.41 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 77, which puts it in the top 31% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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