BlackRock Given “A+” Credit Rating (BLK)
BlackRock (NYSE:BLK) has been given an “A+” credit rating by analysts at Morningstar. The agency’s “A+” rating indicates that the company is a low default risk. They also issued a positive credit outlook for the company and gave their stock a three star rating.
A number of other analysts have also recently weighed in on BLK. 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 equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $372.25.
BlackRock (NYSE:BLK) opened at 328.82 on Wednesday. BlackRock has a 1-year low of $259.42 and a 1-year high of $337.65. The stock’s 50-day moving average is $317. and its 200-day moving average is $309.7. The company has a market cap of $55.361 billion and a price-to-earnings ratio of 18.18.
BlackRock (NYSE:BLK) last posted its quarterly earnings results 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. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. 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 2.35%. The ex-dividend date of this dividend is Thursday, August 28th.
BlackRock, Inc (NYSE:BLK) is an investment management firm.
To view more credit ratings from Morningstar, visit www.morningstar.com.
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