BlackRock (NYSE:BLK) Stock Has Average Target Price of $1,308.06 According to Brokerages

by · The Markets Daily

Shares of BlackRock (NYSE:BLK – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $1,304.35.

A number of analysts have recently weighed in on the stock. Evercore reaffirmed an “outperform” rating and issued a $1,260.00 target price on shares of BlackRock in a research report on Monday, August 10th. Barclays lifted their price target on shares of BlackRock from $1,340.00 to $1,450.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. The Goldman Sachs Group reissued a “buy” rating and set a $1,389.00 price objective on shares of BlackRock in a research note on Thursday, July 16th. Morgan Stanley cut their price objective on shares of BlackRock from $1,488.00 to $1,479.00 and set an “overweight” rating on the stock in a report on Friday, September 25th. Finally, Zacks Research downgraded shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th.

Read Our Latest Stock Analysis on BLK

BlackRock Price Performance

BLK stock opened at $1,059.72 on Thursday. BlackRock has a 1 year low of $917.39 and a 1 year high of $1,219.94. The company has a market cap of $164.12 billion, a P/E ratio of 25.33, a PEG ratio of 1.17 and a beta of 1.41. The firm has a 50-day moving average of $1,111.19 and a 200 day moving average of $1,054.44. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.59 and a quick ratio of 3.59.

BlackRock (NYSE:BLK – Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The asset manager reported $13.91 earnings per share for the quarter, beating the consensus estimate of $12.69 by $1.22. The business had revenue of $7.08 billion for the quarter, compared to analysts’ expectations of $6.73 billion. BlackRock had a return on equity of 14.90% and a net margin of 24.09%.The business’s revenue was up 30.6% on a year-over-year basis. During the same period in the previous year, the firm posted $12.05 EPS. On average, sell-side analysts forecast that BlackRock will post 55.9 EPS for the current year.

BlackRock Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 22nd. Investors of record on Tuesday, September 8th were paid a $5.73 dividend. The ex-dividend date was Tuesday, September 8th. This represents a $22.92 annualized dividend and a dividend yield of 2.2%. BlackRock’s dividend payout ratio is presently 54.78%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in BlackRock in the second quarter worth about $9,747,857,000. State Street Corp grew its holdings in shares of BlackRock by 0.5% during the fourth quarter. State Street Corp now owns 6,264,545 shares of the asset manager’s stock valued at $6,705,193,000 after buying an additional 33,752 shares during the last quarter. Corient Private Wealth LLC increased its position in shares of BlackRock by 5,190.3% during the fourth quarter. Corient Private Wealth LLC now owns 5,490,422 shares of the asset manager’s stock valued at $5,876,618,000 after acquiring an additional 5,386,640 shares in the last quarter. Temasek Holdings Private Ltd increased its position in shares of BlackRock by 4.7% during the first quarter. Temasek Holdings Private Ltd now owns 5,330,492 shares of the asset manager’s stock valued at $5,126,387,000 after acquiring an additional 237,667 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in BlackRock by 0.7% in the 1st quarter. Bank of America Corp DE now owns 5,232,973 shares of the asset manager’s stock worth $5,032,603,000 after acquiring an additional 35,069 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

BlackRock News Roundup

Here are the key news stories impacting BlackRock this week:

  • Positive Sentiment: BlackRock expects continued asset growth in Brazil regardless of the country’s election outcome, with management reportedly targeting approximately 30% growth. This supports the company’s international expansion and fee-generating asset base. BlackRock expects to sustain asset growth in Brazil regardless of election outcome
  • Positive Sentiment: Analysts remain broadly constructive ahead of BlackRock’s October 14 earnings report, forecasting about $14.25 in third-quarter EPS and $7.56 billion in revenue. The outlook could provide a catalyst if results exceed expectations. BlackRock Gears Up For Q3 Print
  • Positive Sentiment: BlackRock’s digital-asset initiatives continue to expand: tokenized BlackRock shares are being brought to Solana, while the BUIDL fund is expanding its multi-chain infrastructure. These developments may strengthen the firm’s position in tokenized securities and blockchain-based cash management. Backpack brings tokenized BlackRock shares to Solana

About BlackRock

(Get Free Report)

BlackRock, Inc is a global investment management and financial technology company serving individual investors, institutions, governments and financial professionals. The company provides investment management, risk management and advisory services across a broad range of asset classes, including equities, fixed income, multi-asset strategies, alternatives and cash management.

BlackRock offers investment products through mutual funds, exchange-traded funds and other vehicles. Its iShares brand is one of the company’s principal platforms for exchange-traded funds, providing access to domestic and international markets, industry sectors, bonds, commodities and specialized investment strategies.

The company also provides technology and analytical solutions through its Aladdin platform, which is used by asset managers, institutional investors and other financial organizations for portfolio management, risk analysis, trading and operational support.

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