BlackRock Given Consensus Rating of “Buy” by Analysts (NYSE:BLK)
Shares of BlackRock (NYSE:BLK) have earned an average rating of “Buy” from the nine brokerages that are covering the company, Analyst Ratings Network.com reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $377.14.
BlackRock (NYSE:BLK) opened at 315.11 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. and a 200-day moving average of $307.2. The company has a market cap of $53.053 billion and a P/E ratio of 17.31.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, July 16th. The company reported $4.89 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $4.15 earnings per share. BlackRock’s revenue was up 11.9% compared to the same quarter last year. Analysts expect that BlackRock will post $19.22 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, September 22nd. Shareholders of record on Tuesday, September 2nd will be given a dividend of $1.93 per share. This represents a $7.72 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend is Thursday, August 28th.
Several analysts have recently commented on the stock. 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, Inc (NYSE:BLK) is an investment management firm.
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