Investing powerhouse BlackRock saw its earnings turn positive early this year and last quarter revenue and earnings both climbed, indicating it's on the rise. On Thursday its stock Relative Strength Rating improved from 65 to 71. BlackRock stock rose.
The upgraded 71 rating is a good one, putting it in the top 30% of stocks for price performance this past year. But its other key ratings are even better. BlackRock stock has a strong 86 Composite Rating out of a best-possible 99.
BlackRock Stock Ratings Generally Shine
Even better, its 90 Earnings Per Share Rating puts New York-based BlackRock in the top 10% of companies for earnings growth comparing on both a current and annual basis with all other publicly traded companies.
Additionally, its B+ Accumulation/Distribution Rating on an A+ to E scale shows that funds such as ETFs and mutual funds are fairly heavy buyers of BlackRock stock. One yellow flag is that the number of funds holding BlackRock stock fell slightly, from 2724 in March to 2706 in September. Look for the number of funds holding its stock to rise.
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BlackRock stock dipped to a 503.12 low on Oct. 13, 2022, as the bear market was ambling off into the woods. It's risen 42% in the past year and traded above 712 Thursday afternoon, up fractionally for the day and 7.2% higher for the week. BlackRock is trying to complete a consolidation with a 781.77 entry. See if it can clear the breakout price in heavy volume.
Regarding fundamentals, earnings grew 14% last quarter to a beefy $10.91 per share, on 5% revenue growth to $4.52 billion. The prior quarter BlackRock's EPS popped 26% but its sales edged down 1%.
In Top Third Of Highly Rated Group
BlackRock stock earns the No. 37 rank among its peers in the 117-stock Finance-Investment Management industry group. Blue Owl Capital and Golub Capital BDC are among the group's highest-rated stocks. The group itself has an outstanding A- Group Relative Strength Rating.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
Investor's Business Daily's RS Rating tracks market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks stacks up against all the other stocks in our database.
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