BlackRock Finance (BLK) closed at $1,020.11 in the latest trading session, marking a -0.26% move from the prior day. This change lagged the S&P 500's daily gain of 0.25%. Elsewhere, the Dow saw a downswing of 0.29%, while the tech-heavy Nasdaq appreciated by 0.97%.
The the stock of investment firm has risen by 3.83% in the past month, lagging the Finance sector's gain of 4.93% and overreaching the S&P 500's gain of 3.51%.
Investors will be eagerly watching for the performance of BlackRock Finance in its upcoming earnings disclosure. The company's upcoming EPS is projected at $11.56, signifying a 19.67% increase compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $5.6 billion, indicating a 20.92% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $43.18 per share and a revenue of $20.33 billion, representing changes of +14.32% and +13.84%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for BlackRock Finance. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.05% upward. Right now, BlackRock Finance possesses a Zacks Rank of #1 (Strong Buy).
Looking at valuation, BlackRock Finance is presently trading at a Forward P/E ratio of 23.69. Its industry sports an average Forward P/E of 13.07, so one might conclude that BlackRock Finance is trading at a premium comparatively.
It is also worth noting that BLK currently has a PEG ratio of 1.82. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Financial - Investment Management industry was having an average PEG ratio of 1.4.
The Financial - Investment Management industry is part of the Finance sector. This industry, currently bearing a Zacks Industry Rank of 31, finds itself in the top 13% echelons 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
Must-See: Solar Stocks Poised to Skyrocket
The solar industry stands to bounce back as tech companies and the economy transition away from fossil fuels to power the AI boom.
Trillions of dollars will be invested in clean energy over the coming years – and analysts predict solar will account for 80% of the renewable energy expansion. This creates an outsized opportunity to profit in the near-term and for years to come. But you have to pick the right stocks to get into.
Discover Zacks’ hottest solar stock recommendation FREE.BlackRock, Inc. (BLK) : Free Stock Analysis Report
To read this article on Zacks.com click here.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
