Stock Alert: BlackRock Shares Hit 52-Week High
Shares of BlackRock Inc. (BLK) touched a 52-week high of $641.40 Tuesday morning, and are currently trading at $636.78, up $21.89 or 3.56% in the regular trading session. Trading volume is 295K versus an average volume of 615K shares.
The company reported third-quarter net income of $1.36 billion or $8.87 per share compared to $1.12 billion or $7.15 per share last year.
Excluding items, Blackrock reported adjusted earnings of $1.42 billion or $9.22 per share for the period. Analysts polled by Thomson Reuters expected earnings of $7.77 per share and revenue of $3.93 billion for the quarter. Analysts’ estimate typically exclude certain special items.
The company’s revenue for the quarter rose 18.4% to $4.37 billion from $3.69 billion last year.
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