BlackRock Receives Average Rating of “Buy” from Analysts (NYSE:BLK)
Shares of BlackRock (NYSE:BLK) have earned a consensus recommendation of “Buy” from the nine analysts that are covering the company, StockRatingsNetwork.com reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $377.14.
A number of analysts have recently weighed in on BLK shares. 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. Separately, 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.
BlackRock (NYSE:BLK) opened at 310.88 on Wednesday. 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 $315.4 and a 200-day moving average of $307.0. The company has a market cap of $52.341 billion and a price-to-earnings ratio of 17.10.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $4.89 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $4.15 earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, analysts predict that BlackRock will post $19.19 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 22nd. Investors of record on Tuesday, September 2nd will be paid a dividend of $1.93 per share. This represents a $7.72 annualized dividend and a dividend yield of 2.48%. The ex-dividend date is Thursday, August 28th.
BlackRock, Inc (NYSE:BLK) is an investment management firm.
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