BlackRock (BLK) Outperforms Broader Market: What You Need to Know

BlackRock (BLK) closed at $1,030.79 in the latest trading session, marking a +1.25% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.8%. Elsewhere, the Dow gained 0.94%, while the tech-heavy Nasdaq added 0.97%. Shares of the investment firm have appreciated by 4.82% over the course of the past month, outperforming the Finance sector's gain of 2.69%, and lagging the S&P 500's gain of 5.12%.The upcoming earnings release of BlackRock will be of great interest to investors. The company is predicted to post an EPS of $10.41, indicating a 0.48% growth compared to the equivalent quarter last year. In the meantime, our current consensus estimate forecasts the revenue to be $5.37 billion, indicating a 11.83% growth compared to the corresponding quarter of the prior year. BLK's full-year Zacks Consensus Estimates are calling for earnings of $44.92 per share and revenue of $22.53 billion. These results would represent year-over-year changes of +3% and +10.4%, respectively. Investors should also take note of any recent adjustments to analyst estimates for BlackRock. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits. Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system. The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.38% upward. BlackRock currently has a Zacks Rank of #3 (Hold). In terms of valuation, BlackRock is currently trading at a Forward P/E ratio of 22.66. This denotes a premium relative to the industry average Forward P/E of 11.28. Meanwhile, BLK's PEG ratio is currently 3.09. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. BLK's industry had an average PEG ratio of 1.33 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 93, which puts it in the top 38% of all 250+ industries. The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BlackRock (BLK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks