BlackRock Receives Neutral Rating from Susquehanna (BLK)
BlackRock (NYSE:BLK)‘s stock had its “neutral” rating reiterated by equities researchers at Susquehanna in a research report issued on Wednesday, American Banking News reports. They currently have a $279.00 price objective on the stock, up from their previous price objective of $270.00. Susquehanna’s target price suggests a potential upside of 6.18% from the company’s current price.
The analysts wrote, “We are raising our 3Q13 estimate to $3.85 from $3.80. Our full-year estimates are now $15.84 and $17.44 compared to $15.68 and $16.81, previously. Our new target is $279 or 16x our new 2014 estimate. A sharp recovery in international markets and ETF flows drive the bulk of our revision. We estimate total flows of $21 billion driven by ETF flows of $17 billion, largely tied to equity. Strong EEM flows in September will likely help to reverse some fee pressure in 3Q. We are still modeling some incremental active equity outflows in the quarter to the tune of $1.5 billion. A recovery here would likely be a catalyst. Our margin target for the quarter is 41.6%. Reiterate Neutral.”
Other equities research analysts have also recently issued reports about the stock. Analysts at ISI Group initiated coverage on shares of BlackRock in a research note to investors on Tuesday. They set a “buy” rating on the stock. Separately, analysts at UBS AG downgraded shares of BlackRock from a “buy” rating to a “neutral” rating in a research note to investors on Wednesday, September 11th. They now have a $280.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of BlackRock in a research note to investors on Wednesday, August 21st. They now have a $280.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. BlackRock has a consensus rating of “Hold” and an average price target of $280.69.
Shares of BlackRock (NYSE:BLK) traded up 1.17% during mid-day trading on Wednesday, hitting $265.83. The stock had a trading volume of 181,125 shares. BlackRock has a 52 week low of $183.26 and a 52 week high of $298.14. The stock’s 50-day moving average is $268.0 and its 200-day moving average is $269.. The company has a market cap of $45.267 billion and a P/E ratio of 17.06.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Thursday, July 18th. The company reported $4.15 earnings per share for the quarter, beating the analysts’ consensus estimate of $3.87 by $0.28. The company had revenue of $2.48 billion for the quarter, compared to the consensus estimate of $2.51 billion. During the same quarter last year, the company posted $3.10 earnings per share. BlackRock’s revenue was up 11.4% compared to the same quarter last year. Analysts expect that BlackRock will post $15.98 EPS for the current fiscal year.
BlackRock, Inc (NYSE:BLK) is an investment management firm.
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