BlackRock (NYSE:BLK) Stock Rating Lowered by ValuEngine

BlackRock (NYSE:BLK) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, ValuEngine reports.

Several other equities analysts have also weighed in on the stock. Barclays raised their price objective on shares of BlackRock from $515.00 to $540.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. cut their price objective on shares of BlackRock from $527.00 to $525.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Morgan Stanley raised their price objective on shares of BlackRock from $550.00 to $553.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Finally, UBS Group raised their price objective on shares of BlackRock from $515.00 to $525.00 and gave the company a “buy” rating in a research report on Monday, July 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $499.03.

Shares of BLK opened at $434.75 on Wednesday. The firm has a market cap of $67.20 billion, a PE ratio of 16.14, a PEG ratio of 1.58 and a beta of 1.52. The firm’s 50 day moving average price is $432.46 and its 200 day moving average price is $446.15. The company has a debt-to-equity ratio of 0.77, a quick ratio of 2.92 and a current ratio of 2.92. BlackRock has a twelve month low of $360.79 and a twelve month high of $492.00.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, July 19th. The asset manager reported $6.41 earnings per share for the quarter, missing the consensus estimate of $6.52 by ($0.11). The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.57 billion. BlackRock had a net margin of 30.25% and a return on equity of 13.24%. BlackRock’s revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $6.66 EPS. On average, sell-side analysts anticipate that BlackRock will post 27.5 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the company. Advisory Alpha LLC bought a new position in shares of BlackRock in the first quarter valued at approximately $26,000. Virtus ETF Advisers LLC bought a new position in shares of BlackRock in the second quarter valued at approximately $27,000. Massey Quick Simon & CO. LLC bought a new position in shares of BlackRock in the second quarter valued at approximately $31,000. MRA Associates USA LLC bought a new position in shares of BlackRock in the second quarter valued at approximately $33,000. Finally, SRS Capital Advisors Inc. bought a new position in shares of BlackRock in the second quarter valued at approximately $33,000. 81.93% of the stock is currently owned by institutional investors.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.

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Analyst Recommendations for BlackRock (NYSE:BLK)

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