BlackRock Hits New 1-Year High at $333.48 (BLK)
BlackRock (NYSE:BLK) hit a new 52-week high during trading on Monday , Analyst Ratings Network.com reports. The stock traded as high as $333.48 and last traded at $331.83, with a volume of 296,887 shares trading hands. The stock had previously closed at $326.00.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of BlackRock in a research note on Wednesday, August 20th. They now have a $338.00 price target on the stock. Separately, 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. Finally, 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. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $372.25.
The stock’s 50-day moving average is $315.6 and its 200-day moving average is $308.1. The company has a market cap of $56.058 billion and a price-to-earnings ratio of 17.93.
BlackRock (NYSE:BLK) last posted its quarterly 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 $19.22 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 22nd. Stockholders 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 2.32%. The ex-dividend date is Thursday, August 28th.
In other BlackRock news, Director Mark Mccombe sold 3,500 shares of BlackRock stock on the open market in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $314.00, for a total value of $1,099,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link.
BlackRock, Inc (NYSE:BLK) is an investment management firm.
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