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"content": "BlackRock (BLK) Outpaces Stock Market Gains: What You Should Know\nBy Zacks Equity Research\nPublished on: 2023-04-10T22:00:21Z\n\nBlackRock (BLK) closed the most recent trading day at $659.82, moving +0.52% from the previous trading session.\n\nArticle Content:\n\nBLK Quick QuoteBLK\nIn the latest trading session, BlackRock (BLK Quick QuoteBLK - Free Report) closed at $659.82, marking a +0.52% move from the previous day. This move outpaced the S&P 500's daily gain of 0.1%. Meanwhile, the Dow gained 0.3%, and the Nasdaq, a tech-heavy index, lost 2.19%.\nHeading into today, shares of the investment firm had gained 3.37% over the past month, outpacing the Finance sector's loss of 4.8% and the S&P 500's gain of 3.13% in that time.\nInvestors will be hoping for strength from BlackRock as it approaches its next earnings release, which is expected to be April 14, 2023. On that day, BlackRock is projected to report earnings of $7.90 per share, which would represent a year-over-year decline of 17.02%. Our most recent consensus estimate is calling for quarterly revenue of $4.24 billion, down 9.86% from the year-ago period.\nBLK's full-year Zacks Consensus Estimates are calling for earnings of $34.84 per share and revenue of $18.16 billion. These results would represent year-over-year changes of -1.47% and +1.61%, respectively.\nIt is also important to note the recent changes to analyst estimates for BlackRock. 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.\nOur research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.\nThe Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. BlackRock is currently a Zacks Rank #2 (Buy).\nLooking at its valuation, BlackRock is holding a Forward P/E ratio of 18.84. For comparison, its industry has an average Forward P/E of 10.32, which means BlackRock is trading at a premium to the group.\nInvestors should also note that BLK has a PEG ratio of 2.21 right now. 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. Financial - Investment Management stocks are, on average, holding a PEG ratio of 1.3 based on yesterday's closing prices.\nThe Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 91, putting it in the top 37% of all 250+ industries.\nThe Zacks Industry Rank gauges the strength of our individual 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.\nBe sure to follow all of these stock-moving metrics, and many more, on Zacks.com.\nBlackRock, Inc. (BLK) - free report >>\nOur experts picked 7 Zacks Rank #1 Strong Buy stocks with the best chance to skyrocket within the next 30-90 days.\nRecent stocks from this report have soared up to +178.7% in 3 months - this month's picks could be even better. See our report's 7 new picks today - it's really free!\nThis page has not been authorized, sponsored, or otherwise approved or endorsed by the companies represented herein. Each of the company logos represented herein are trademarks of Microsoft Corporation; Dow Jones & Company; Nasdaq, Inc.; Forbes Media, LLC; Investor's Business Daily, Inc.; and Morningstar, Inc.\nAt the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1988 it has more than doubled the S&P 500 with an average gain of +23.96% per year. These returns cover a period from January 1, 1988 through October 2, 2023. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return. Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.\n\nSource: Zacks Investment Research\n",
"timestamp_ms": 1681164021000,
"published_utc": "2023-04-10T22:00:21Z",
"article_url": "https://www.zacks.com/stock/news/2076582/blackrock-blk-outpaces-stock-market-gains-what-you-should-know",
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"[1][b] Stock Market Updates",
"[2][c] Stock Recommendations"
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"[2][a] Real-Time Market Developments"
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