BlackRock (NYSE: BLK) recently received a number of ratings updates from brokerages and research firms:
- 10/13/2016 – BlackRock had its price target raised by analysts at Barclays PLC from $375.00 to $378.00. They now have an “equal weight” rating on the stock.
- 10/11/2016 – BlackRock had its price target raised by analysts at Jefferies Group from $357.00 to $367.00. They now have a “hold” rating on the stock.
- 10/10/2016 – BlackRock had its “buy” rating reaffirmed by analysts at Citigroup Inc.. They now have a $400.00 price target on the stock.
- 10/10/2016 – BlackRock had its “market perform” rating reaffirmed by analysts at Wells Fargo & Co..
- 10/5/2016 – BlackRock had its price target raised by analysts at Deutsche Bank AG from $412.00 to $418.00. They now have a “buy” rating on the stock.
- 9/19/2016 – BlackRock was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $410.00 price target on the stock. According to Zacks, “BlackRock has expanded largely via acquisitions, with most of its AUM growth is attributable to the same. The company remains well positioned to capitalize on opportunistic acquisitions, driven by its strong liquidity position. Also, its initiatives to gain market share in the ETF business are expected to drive revenue growth, going forward. Moreover, strong balance sheet position indicates steady capital deployment activities. However, elevated expenses, high dependence on fee-based revenues and regulatory restrictions on the company’s revenue sources are the primary concerns.”
- 9/9/2016 – BlackRock had its price target raised by analysts at Deutsche Bank AG from $404.00 to $414.00. They now have a “buy” rating on the stock.
- 8/24/2016 – BlackRock had its price target raised by analysts at Barclays PLC from $364.00 to $375.00. They now have an “equal weight” rating on the stock.
- 8/16/2016 – BlackRock was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $382.97 price target on the stock.
BlackRock Inc. (NYSE:BLK) opened at 349.34 on Friday. The company has a 50-day moving average of $364.46 and a 200-day moving average of $356.98. BlackRock Inc. has a 12 month low of $280.55 and a 12 month high of $376.65. The stock has a market cap of $57.45 billion, a PE ratio of 18.61 and a beta of 1.46.
BlackRock (NYSE:BLK) last announced its earnings results on Thursday, July 14th. The company reported $4.78 EPS for the quarter, missing the Zacks’ consensus estimate of $4.82 by $0.04. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The business had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same period in the prior year, the company posted $4.96 earnings per share. The firm’s quarterly revenue was down 3.5% on a year-over-year basis. On average, equities analysts forecast that BlackRock Inc. will post $19.23 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Shareholders of record on Friday, September 2nd were issued a dividend of $2.29 per share. The ex-dividend date was Wednesday, August 31st. This represents a $9.16 dividend on an annualized basis and a yield of 2.62%. BlackRock’s dividend payout ratio is currently 48.83%.
In other news, Director James Grosfeld sold 25,379 shares of the stock in a transaction on Monday, August 29th. The shares were sold at an average price of $374.22, for a total value of $9,497,329.38. Following the completion of the sale, the director now directly owns 514,402 shares of the company’s stock, valued at $192,499,516.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ryan Stork sold 1,400 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $367.24, for a total transaction of $514,136.00. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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