Somewhat Positive Press Coverage Extremely Likely to Affect BlackRock (BLK) Share Price
Media coverage about BlackRock (NYSE:BLK) has been trending somewhat positive recently, according to InfoTrie Sentiment. InfoTrie identifies negative and positive press coverage by analyzing more than six thousand blog and news sources. The firm ranks coverage of public companies on a scale of negative five to five, with scores closest to five being the most favorable. BlackRock earned a coverage optimism score of 1.73 on their scale. InfoTrie also assigned media stories about the asset manager an news buzz score of 9 out of 10, indicating that recent press coverage is extremely likely to have an effect on the company’s share price in the near future.
These are some of the media headlines that may have impacted BlackRock’s analysis:
- BlackRock: Now’s the time for investors to play defense (marketwatch.com)
- Black Rock resident concerned about legal waterfowl hunting (newcanaannewsonline.com)
- BlackRock’s Rieder buying longer-term bonds as Fed pause seems likely (feeds.reuters.com)
- The Tell: BlackRock: Now’s the time for investors to play defense (marketwatch.com)
- BlackRock (BLK) Given “Buy” Rating at Bank of America (americanbankingnews.com)
A number of brokerages have recently issued reports on BLK. Morgan Stanley cut their price objective on shares of BlackRock from $554.00 to $514.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 14th. Deutsche Bank cut their price objective on shares of BlackRock from $458.00 to $444.00 and set a “buy” rating on the stock in a research report on Friday, November 16th. Bank of America reaffirmed a “buy” rating and issued a $478.00 price objective (down previously from $525.00) on shares of BlackRock in a research report on Thursday. ValuEngine raised shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, October 31st. Finally, Argus cut their price objective on shares of BlackRock from $620.00 to $535.00 and set a “buy” rating on the stock in a research report on Wednesday, October 17th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $548.86.
BlackRock (NYSE:BLK) last released its earnings results on Tuesday, October 16th. The asset manager reported $7.52 earnings per share for the quarter, topping the consensus estimate of $6.93 by $0.59. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.65 billion. BlackRock had a net margin of 39.92% and a return on equity of 13.72%. BlackRock’s revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.76 EPS. On average, equities research analysts expect that BlackRock will post 27.79 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 26th. Shareholders of record on Friday, December 7th will be given a dividend of $3.13 per share. This represents a $12.52 annualized dividend and a yield of 3.13%. The ex-dividend date is Thursday, December 6th. BlackRock’s dividend payout ratio is presently 55.40%.
In other BlackRock news, Director J. Richard Kushel sold 2,100 shares of the business’s stock in a transaction that occurred on Monday, November 26th. The shares were sold at an average price of $419.11, for a total transaction of $880,131.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director William E. Ford bought 2,000 shares of the company’s stock in a transaction on Monday, October 22nd. The shares were bought at an average cost of $395.21 per share, for a total transaction of $790,420.00. Following the transaction, the director now owns 9,466 shares in the company, valued at approximately $3,741,057.86. The disclosure for this purchase can be found here. 1.86% of the stock is currently owned by insiders.
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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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