BlackRock, Inc. BLK saw a big move last Friday, as the company’s shares fell by nearly 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for BLK, as the stock is now down 10% since Nov 30.
Although this slump was obviously disappointing, the investment management company has seen 10 positive revisions and its current year earnings consensus has moved higher over the past two months. This suggests that the recent slump might be a temporary blip on the radar for BLK. So make sure to keep an eye on this stock going forward to see if yesterday’s price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.
BLK currently has a Zacks Rank #3 (Hold) while its Earnings ESP is positive.
A better-ranked stock in the same sector is AllianceBernstein Holding L.P. AB, holding a Zacks Rank #2 (Buy).
Is BLK going up? Or down? Predict to see what others think: Up or Down
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