BlackRock, Inc. Plans Quarterly Dividend of $1.93 (BLK)
BlackRock (NYSE:BLK) announced a quarterly dividend on Wednesday, July 23rd, AmericanBankingNews.com reports. Stockholders of record on Tuesday, September 2nd will be paid a dividend of 1.93 per share on Monday, September 22nd. This represents a $7.72 annualized dividend and a dividend yield of 2.42%.
BLK has been the subject of a number of recent research reports. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of BlackRock in a research note on Thursday, July 17th. They now have a $368.00 price target on the stock, up previously from $366.50. On a related note, analysts at Citigroup Inc. reiterated an “overweight” rating on shares of BlackRock in a research note on Thursday, July 17th. They now have a $391.00 price target on the stock, up previously from $387.00. Finally, analysts at RBC Capital raised their price target on shares of BlackRock from $387.00 to $397.00 in a research note on Thursday, July 17th. They now have an “outperform” rating on the stock. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. BlackRock has a consensus rating of “Buy” and a consensus price target of $369.00.
Shares of BlackRock (NYSE:BLK) traded down 0.79% during mid-day trading on Wednesday, hitting $316.55. 688,720 shares of the company’s stock traded hands. BlackRock has a 52-week low of $257.19 and a 52-week high of $331.90. The stock has a 50-day moving average of $316.6 and a 200-day moving average of $307.. The company has a market cap of $53.295 billion and a price-to-earnings ratio of 17.55.
BlackRock (NYSE:BLK) last announced its earnings results on Wednesday, July 16th. The company reported $4.89 EPS for the quarter, beating the Thomson Reuters consensus estimate of $4.43 by $0.46. The company had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the prior year, the company posted $4.15 earnings per share. The company’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts predict that BlackRock will post $19.12 earnings per share for the current fiscal year.
BlackRock, Inc (NYSE:BLK) is an investment management firm.
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