ValuEngine Downgrades BlackRock (NYSE:BLK) to Sell

BlackRock (NYSE:BLK) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday, ValuEngine reports.

A number of other analysts have also recently issued reports on the stock. UBS Group lifted their target price on shares of BlackRock from $515.00 to $525.00 and gave the company a “buy” rating in a research note on Monday, July 8th. Barclays reiterated a “buy” rating and issued a $485.00 target price on shares of BlackRock in a research note on Wednesday. Morgan Stanley reduced their target price on shares of BlackRock from $553.00 to $547.00 and set an “overweight” rating for the company in a research note on Tuesday. Credit Suisse Group set a $567.00 target price on shares of BlackRock and gave the company a “buy” rating in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. reduced their target price on shares of BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $500.60.

Shares of BLK opened at $434.00 on Thursday. The company’s 50 day moving average price is $429.09 and its 200 day moving average price is $446.64. BlackRock has a 52 week low of $360.79 and a 52 week high of $487.45. The company has a market capitalization of $64.48 billion, a PE ratio of 16.12, a PEG ratio of 1.51 and a beta of 1.54. 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 (NYSE:BLK) last announced its quarterly earnings data on Friday, July 19th. The asset manager reported $6.41 EPS for the quarter, missing the Zacks’ consensus estimate of $6.52 by ($0.11). The company had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.57 billion. BlackRock had a net margin of 30.25% and a return on equity of 13.24%. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $6.66 earnings per share. On average, equities analysts forecast that BlackRock will post 27.38 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of BlackRock by 1.2% in the second quarter. BlackRock Inc. now owns 7,642,761 shares of the asset manager’s stock worth $3,586,748,000 after buying an additional 89,230 shares during the last quarter. Northern Trust Corp grew its holdings in shares of BlackRock by 1.7% in the 2nd quarter. Northern Trust Corp now owns 1,706,376 shares of the asset manager’s stock worth $800,801,000 after purchasing an additional 28,720 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of BlackRock by 3.3% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 912,329 shares of the asset manager’s stock worth $428,156,000 after purchasing an additional 29,474 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of BlackRock by 20,980.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 895,908 shares of the asset manager’s stock worth $420,451,000 after purchasing an additional 891,658 shares during the last quarter. Finally, Thoroughbred Financial Services LLC grew its holdings in shares of BlackRock by 50,843.9% in the 2nd quarter. Thoroughbred Financial Services LLC now owns 485,495 shares of the asset manager’s stock worth $48,550,000 after purchasing an additional 484,542 shares during the last quarter. Institutional investors and hedge funds own 81.83% of the company’s stock.

About BlackRock

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for BlackRock (NYSE:BLK)

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