Investment company BlackRock (NYSE:BLK) announced its Q3 results with adjusted earnings of $10.91 per share, up by 14% year-over-year and surpassing Street estimates of $8.34 per share. The company’s revenues increased by 5% year-over-year to $4.52 billion, in line with analysts’ forecasts.
The company’s assets under management (AUM) increased by 14% year-over-year to $9.1 trillion. At the end of the third quarter, BlackRock had total net flows of $3 billion, reflecting “$49 billion of net outflows from lower-fee institutional index equity strategies, including $19 billion from a single international client.”
Is BlackRock a Buy Sell or Hold?
Analysts are bullish about BlackRock with a Strong Buy consensus rating based on nine Buys and one Hold. The average BLK price target is $789.80, implying an upside potential of 24.2% from current levels.
