BlackRock (BLK) – Analysts’ Weekly Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of BlackRock (NYSE: BLK) in the last few weeks:

  • 10/12/2017 – BlackRock had its “hold” rating reaffirmed by analysts at Keefe, Bruyette & Woods. They now have a $500.00 price target on the stock.
  • 10/12/2017 – BlackRock had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $465.00 price target on the stock.
  • 10/12/2017 – BlackRock had its “outperform” rating reaffirmed by analysts at Credit Suisse Group.
  • 10/12/2017 – BlackRock had its price target raised by analysts at J P Morgan Chase & Co to $558.00. They now have an “overweight” rating on the stock.
  • 10/12/2017 – BlackRock had its “market perform” rating reaffirmed by analysts at Wells Fargo & Company. They now have a $475.00 price target on the stock, up previously from $450.00.
  • 10/10/2017 – BlackRock had its price target raised by analysts at Barclays PLC from $475.00 to $500.00. They now have an “overweight” rating on the stock.
  • 10/5/2017 – BlackRock had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $501.00 price target on the stock, up previously from $476.00.
  • 10/3/2017 – BlackRock was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $501.00 price target on the stock. According to Zacks, “BlackRock’s shares have underperformed the industry, in the last twelve months. Nevertheless, the company surpassed the Zacks Consensus Estimate for earnings in three of the trailing four quarters. The company is undertaking initiatives to restructure its actively managed equities business with an aim to meet changing client needs. These along with technological changes will further help top-line growth going forward. Also, it has expanded globally via acquisitions and remains well positioned to capitalize on opportunistic deals, given its strong liquidity position. However, mounting expenses mainly due to continued rise in marketing costs and high dependence on overseas revenues remain major concerns for the company.”
  • 9/28/2017 – BlackRock was upgraded by analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “buy” rating. They now have a $500.00 price target on the stock, up previously from $440.00.
  • 9/26/2017 – BlackRock had its “hold” rating reaffirmed by analysts at Jefferies Group LLC. They now have a $440.00 price target on the stock.
  • 9/8/2017 – BlackRock is now covered by analysts at Barclays PLC. They set an “overweight” rating and a $475.00 price target on the stock.

BlackRock, Inc. (BLK) traded up 0.26% during trading on Wednesday, hitting $472.06. 179,698 shares of the company were exchanged. The company has a market capitalization of $76.28 billion, a price-to-earnings ratio of 22.11 and a beta of 1.72. BlackRock, Inc. has a 12 month low of $337.43 and a 12 month high of $489.79. The stock’s 50-day moving average is $455.97 and its 200-day moving average is $423.82.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $5.49 by $0.43. BlackRock had a net margin of 29.52% and a return on equity of 12.09%. The firm had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the firm posted $5.14 earnings per share. BlackRock’s quarterly revenue was up 14.0% on a year-over-year basis. Equities research analysts anticipate that BlackRock, Inc. will post $22.36 earnings per share for the current year.

In related news, Director J. Richard Kushel sold 100 shares of the company’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $481.58, for a total value of $48,158.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robert W. Fairbairn sold 3,675 shares of the company’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The disclosure for this sale can be found here. Insiders sold 4,775 shares of company stock valued at $2,053,412 in the last three months. 1.86% of the stock is currently owned by insiders.

BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.

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