Market Update (NYSE:BLK): BlackRock CEO Fink sees risks in China, negative rates

[Reuters] – BlackRock Inc Chief Executive Officer Larry Fink said on Friday that China may be the biggest hurdle to global financial markets and that central bankers are adding to risks with negative-interest rate policies. “China does represent maybe more global risk than anything in the world today,” he said at a banking conference in Acapulco, Mexico. Fink, who heads the world’s largest investment management firm, said China’s transition from an export-driven economy to a service-oriented economy requires reforming and merging its state-owned companies, which will reduce jobs, while creating more jobs in the service sector. Read more on this. BlackRock, Inc. (BLK) , currently valued at $56.24B, started trading this morning at $330.00. Today, shares have traded between $326.65 and $340.18 per share with its 52-week range being $275.00 to $380.99. BLK shares are currently priced at 16.81x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 8.79x earnings multiple. And for income investors, the company pays shareholders $9.16 per share annually in dividends, yielding 2.86%. According to a consensus of 18 analysts, the earnings estimate of $4.37 per share would be $0.52 worse than the year-ago quarter and a $0.38 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $19.33, which would be a $0.27 setback when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $2.75 Billion. If reported, that would be a 1.10% increase over the year-ago quarter. Recently, Gabelli & Co upgraded BLK from Hold to Buy (Sep 16, 2015). Previously, Credit Suisse upgraded BLK from Neutral to Outperform. The average price target for BLK shares by the analysts covering the stock is $350.41, which is 6.18% above where the stock opened this morning. See more in (NYSE:BLK) Similar Articles: Market Update: BlackRock Inc (NYSE:BLK) – Top BlackRock fund manager buys more European junk bonds Market Update: BlackRock Inc (NYSE:BLK) – BlackRock switches benchmarks on U.S. bond ETFs Stock Update (NYSE:BLK): Fed likely to raise rates two-three times next year: BlackRock chief strategist