BlackRock Falls 1.39% as Investors Look Ahead to Earnings
The shares trailed major indexes, while analysts’ quarterly forecasts point to higher earnings and revenue year over year.
BlackRock shares fell 1.39% to $1,071.25 in the latest session, underperforming the S&P 500, which lost 0.77%. The Dow fell 0.67%, while the Nasdaq declined 0.92%.
Over the past month, BlackRock shares lost 6.71%. The Finance sector fell 3.48% in that period, while the S&P 500 gained 0.96%.
Ahead of BlackRock’s forthcoming earnings report, analysts expect quarterly earnings of $14.24 per share, up 23.29% year over year. Zacks’ consensus estimate calls for revenue of $7.44 billion, a 14.26% increase from the year-ago quarter.
For the full year, Zacks’ consensus estimates call for earnings of $55.96 per share and revenue of $28.83 billion. Those figures would represent year-over-year growth of 16.37% and 19.03%, respectively.
Zacks said its consensus earnings estimate for BlackRock rose 0.18% over the past month. It also put the company’s forward P/E ratio at 19.41, compared with an industry average of 10.97.
This article was produced with the help of AI technology.
Source: Yahoo Finance
