) crafted a new 52-week high, touching $275.21 in the first half
of the trading session on May 6, 2013. The closing price of this
leading title insurer represents a solid year-to-date return of
29.8%. The trading volume over the last 3 months was 0.8 million
Despite hitting its 52-week high, this Zacks #2 Rank (Buy) stock
has plenty of upside left given its strong estimate revisions
over the last 30 days and expected year-over-year earnings growth
of 16.41% for 2013.
Impressive first-quarter 2013 results - including an earnings
surprise of 1.67%, a record $3.936 trillion in assets under
management (up 7% year over year) and continuous capital
deployment activities - have been the primary growth drivers.
On Apr 16, 2013, BlackRock reported first-quarter 2013 adjusted
earnings of $3.65 per share, surpassing the Zacks Consensus
Estimate of $3.59. The results compare favorably with the
year-ago earnings of $3.16. The year-over-year improvement was
primarily attributable to top-line growth, partly offset by
higher operating expenses.
Moreover, the company has delivered positive earnings surprises
for 4 straight quarters with an average beat of 3.75%.
Estimate Revisions Show Potency
Over the last 30 days, 10 out of 15 estimates for 2013 have been
revised upward, lifting the Zacks Consensus Estimate by 2.5% to
$15.92 per share. For 2014, 10 out of 14 estimates moved higher
over the same time frame, helping the Zacks Consensus Estimate
advance 2.1% to $18.09 per share.
Other banks that are worth considering include
AllianceBernstein Holding L.P.
GAMCO Investors, Inc.
). All these carry a Zacks Rank #1 (Strong Buy).
ALLIANCEBERNSTN (AB): Free Stock Analysis
BLACKROCK INC (BLK): Free Stock Analysis
GAMCO INVESTORS (GBL): Free Stock Analysis
INVESCO LTD (IVZ): Free Stock Analysis Report
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