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DailyBubble News

Why BlackRock (BLK) Outpaced the Stock Market Today

In the most recent trading session, BlackRock (BLK) ended at $781.08, showing a 1.53% increase from the previous day’s close. This rise was higher than the S&P 500’s 0.77% gain, with the Dow up 0.49% and the Nasdaq climbing 0.95%.

Over the past month, BlackRock’s stock has dropped by 5.28%, underperforming the Finance sector’s 1.72% loss and the S&P 500’s 3.71% gain.

Analysts are eagerly anticipating BlackRock’s upcoming earnings release, with expectations of earnings of $9.88 per share, marking a 6.47% year-over-year growth. Revenue is forecasted to reach $4.87 billion, reflecting a 9.16% increase compared to the same quarter last year.

For the full year, Zacks Consensus Estimates predict earnings of $41.25 per share and revenue of $20.2 billion, showing increases of 9.21% and 13.11% respectively from the previous year.

Investors should take note of any recent changes in analyst estimates for BlackRock, as these revisions often reflect short-term business trends. The Zacks Rank, which considers these estimate changes, provides a rating system from #1 (Strong Buy) to #5 (Strong Sell). Currently, BlackRock holds a Zacks Rank #3 (Hold).

In terms of valuation, BlackRock has a Forward P/E ratio of 18.65, indicating a premium compared to the industry’s Forward P/E of 10.16. The stock also has a PEG ratio of 1.59, higher than the industry average of 0.93.

The Financial – Investment Management industry, to which BlackRock belongs, has a Zacks Industry Rank of 172, placing it in the bottom 32% of industries.

Zacks Industry Rank data shows that top-rated industries outperform lower-rated ones by a ratio of 2 to 1.

To stay updated on BlackRock’s performance in future trading sessions, visit Zacks.com.

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