Favorable Press Coverage Somewhat Unlikely to Impact BlackRock (BLK) Stock Price
News coverage about BlackRock (NYSE:BLK) has trended positive on Tuesday, Accern Sentiment reports. The research group ranks the sentiment of press coverage by reviewing more than twenty million news and blog sources in real time. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. BlackRock earned a daily sentiment score of 0.47 on Accern’s scale. Accern also gave media headlines about the asset manager an impact score of 45.0988625066145 out of 100, meaning that recent press coverage is somewhat unlikely to have an impact on the company’s share price in the immediate future.
These are some of the media headlines that may have impacted Accern Sentiment’s scoring:
- BlackRock's Hildebrand Says Biggest Risk to Economy Is Trade (finance.yahoo.com)
- BlackRock Survey: Boomers Missing out on ETF Revolution (finance.yahoo.com)
- BlackRock Boosted Staff Bonuses Last Year After 2016 Cut (finance.yahoo.com)
- Fearful millennials are finally ready to take a chance on the stock market (cnbc.com)
- I Hate Business, but I Love Larry Fink (finance.yahoo.com)
Several analysts have recently weighed in on the company. Jefferies Group restated a “hold” rating and set a $440.00 price target on shares of BlackRock in a report on Tuesday, September 26th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price target on the stock in a report on Tuesday, October 3rd. Argus restated a “buy” rating and set a $620.00 price target (up from $520.00) on shares of BlackRock in a report on Tuesday, January 16th. Wells Fargo & Co restated a “market perform” rating and set a $555.00 price target (up from $535.00) on shares of BlackRock in a report on Tuesday, January 16th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $500.00 price target on shares of BlackRock in a report on Thursday, October 12th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $547.92.
BlackRock (NYSE:BLK) last announced its earnings results on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.94 by $0.30. BlackRock had a return on equity of 12.54% and a net margin of 39.79%. The business had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.33 billion. During the same period in the prior year, the business posted $5.14 earnings per share. The firm’s revenue was up 20.0% on a year-over-year basis. sell-side analysts predict that BlackRock will post 28.52 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th will be issued a $2.88 dividend. The ex-dividend date is Tuesday, March 6th. This is a boost from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 annualized dividend and a yield of 1.95%. BlackRock’s dividend payout ratio is presently 33.00%.
In related news, insider Jeff A. Smith sold 100 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $477.54, for a total value of $47,754.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan Wagner sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total value of $2,024,400.00. Following the completion of the sale, the director now owns 481,915 shares in the company, valued at $243,897,181.50. The disclosure for this sale can be found here. Insiders sold 4,525 shares of company stock worth $2,312,687 over the last quarter. 1.86% of the stock is currently owned by company insiders.
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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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