BlackRock Shares Drop 1.47% to $1,052.59 Ahead of Strong Q1 Estimates
BlackRock shares closed at $1,052.59 on March 4, down 1.47% and underperforming the S&P 500’s 0.94% decline and the Finance sector’s 2.41% monthly loss. Q1 EPS are forecast at $12.42 (up 9.9% YoY), revenue $6.64 billion (up 25.8% YoY) and forward P/E of 19.9 versus industry average 10.5.
1. Stock Performance
BlackRock shares closed at $1,052.59 on March 4, down 1.47%, underperforming the S&P 500’s 0.94% decline. Over the past month, shares have fallen 4.59%, outpaced by the Finance sector’s 2.41% loss and the S&P 500’s 1.3% drop.
2. Earnings Estimates
For Q1, EPS are projected at $12.42, representing a 9.91% year-over-year gain, with revenue forecast at $6.64 billion, up 25.76% year-over-year. Full-year estimates call for EPS of $53.64 (up 11.54%) and revenue of $27.89 billion (up 15.18%).
3. Valuation Metrics
BlackRock’s forward price-to-earnings ratio stands at 19.92, a premium to its industry average of 10.49, while its PEG ratio of 1.34 exceeds the industry’s 0.84. The company holds a Zacks Rank of #3 (Hold) and the Financial – Investment Management industry ranks in the bottom 43% of all sectors.