Name of opportunity: 👀
BlackRock, Inc
Nice surprise for analysts and investors: 🫢
Today, BlackRock released its Q2 earnings, which have in many cases beat analysts’ estimates. Earnings per share reached US$10.36 from the year prior’s figure of US$9.28 - the the Zacks Consensus Estimate was US$9.96. Total revenue was up 8% year-on-year to reach US$4.81 billion in the second quarter (but this metric did not reach expectations, as analysts had predicted the revenue would be higher at US$4.85 billion). However, many of the other metrics such as assets under management and expenses went beyond what analysts predicted.
As a result, BlackRock’s stock has already gone up 0.58% today as investors were given confidence by the earnings.
How hot is this investment opportunity? 🔥🔥🔥
BlackRock is currently recommended as a ‘Buy’ on the Nemo app, and overall, analysts predict the value of the stock will increase from $836.80 to $931.17 in the next 12 months. If you invested $1000, you might profit $132.28.
Part of the reason for this is BlackRock’s upcoming acquisitions of other companies. The investment company previously announced in June that it would be acquiring Prequin, a data group that tracks the performance of investment firms, and provides a data analysis platform to customers. BlackRock hopes to integrate Prequin into its Alladin investment software.
In January, BlackRock made a deal with Global Infrastructure Partners, to buy the investment company for US$12.5 billion. GIP focuses on the energy, transport, digital infrastructure and water and waste management sectors, and is interested in ESG issues. The deal is set to complete at the end of Q3.
These acquisitions could provide plenty of opportunity for growth. BlackRock also repurchased US$500 million worth of shares this quarter, benefiting shareholders by increasing EPS.
The world’s largest asset manager: 💵
BlackRock is an American multinational investment company, which provides a range of investment management and technology services to institutional and retail clients. We have previously covered BlackRock on Hot Stocks before, when the company successfully launched the iShares Bitcoin Trust ETF (or $BIT) back in February - the first time cryptocurrency could be traded as a ETF. In May, this became the largest Bitcoin fund in the world. BlackRock has more than 19,000 employees in over 35 global countries.
Which neme?: 🔍
‘Top Stocks on X/Twitter’, ‘Analyst Recommendation Changes’, ‘Copy a $10Trn Asset Manager’, ‘This Week’s Earnings’
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