The analysts wrote, “We view BLK’s business model as uniquely positioned, given industry-leading ETF franchise, and strong presence in alternatives and multi-asset. We believe BLK should trade at a premium to peers in the current volatile backdrop, vs current discount (12.3x vs peers at 13x). Positive catalysts include margin expansion from highly scalable ETFs and continued share repurchases, while regulatory concerns remain a key investor concern.”
A number of other firms have also recently commented on BLK. Analysts at Deutsche Bank (NYSE: DB) reiterated a “hold” rating on shares of BlackRock in a research note to investors on Monday. They now have a $210.00 price target on the stock. Separately, analysts at Jefferies Group (NYSE: JEF) reiterated a “hold” rating on shares of BlackRock in a research note to investors on Monday. They now have a $195.00 price target on the stock. Finally, analysts at Standpoint Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating in a research note to investors on Friday, May 4th. They now have a $210.00 price target on the stock.
Shares of BlackRock traded up 2.02% during mid-day trading on Wednesday, hitting $166.67. BlackRock has a one year low of $137.00 and a one year high of $209.37. The company has a market cap of $29.902 billion and a P/E ratio of 12.93.
BlackRock last issued its quarterly earnings data on Wednesday, April 18th. The company reported $3.16 earnings per share for the quarter, beating the analysts’ consensus estimate of $3.02 by $0.14. BlackRock’s revenue was down 1.4% compared to the same quarter last year. On average, analysts predict that BlackRock will post $3.33 earnings per share next quarter.
BlackRock, Inc. (BlackRock) is an independent investment management firm. The Company provides a range of investment and risk management services.