Company Update: BlackRock Inc (NYSE:BLK) – Bullish BlackRock says EM rally not done yet

[Reuters] – “We are taking a little bit of risk off the table, but we are still on the long side,” said Pablo Goldberg, senior strategist for BlackRock’s EM debt team. Spreads on JP Morgan’s EMBI Global Diversified Index, which tracks the performance of EM sovereign debt, have tightened about 125bp since a recent peak of 507bp on February 11. Not only has a recovery in oil prices helped the crude exporters that dominate much of emerging markets, but a stabler dollar has left room for rate cuts. Read more on this. BlackRock, Inc. (BLK) , with a current market cap of $60.45B, opened at $363.74. A quick look at the market, the company’s stock traded between $362.31 and $366.00 with the price of the stock fluctuating between $275.00 to $378.80 over the last 52 weeks. BlackRock (BLK) shares are currently priced at 18.66x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 12.42x earnings multiple for the same period. The company pays shareholders $9.16 per share annually in dividends, yielding 2.51%. According to a consensus of 17 analysts, the earnings estimate of $4.84 per share would be $0.12 worse than the year-ago quarter and a $0.09 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $19.51, which would be a $0.09 worse when compared to the last year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $2.82 Billion. If realized, that would be a 2.76% decrease over the year-ago quarter. In terms of ratings, Citigroup upgraded BLK from Neutral to Buy (Apr 19, 2016). Previously, Gabelli & Co upgraded BLK from Hold to Buy. The average price target for BLK shares by the analysts covering it is $389.25, which is 7.01% above where the stock opened. See more in (NYSE:BLK) Similar Articles: Company Update: BlackRock Inc (NYSE:BLK) – BlackRock to restructure after ‘tough’ 1st quarter Stock Update: BlackRock Inc (NYSE:BLK) – Stock rally looks excessive given uncertainty -BlackRock strategist Company Update: BlackRock Inc (NYSE:BLK) – BlackRock reshuffles senior leadership of investment teams
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