From Nasdaq: 2024-05-19 08:59:16

BlackRock’s stock (NYSE: BLK) has underperformed the S&P 500, trading 11% below its fair value of $914. Despite a 15% increase in 2023, BLK lagged behind the S&P. In Q1 2024, the company outperformed estimates with a 11% rise in total revenues to $4.73 billion.

The first quarter of 2024 saw BlackRock’s net income improve by 36% y-o-y to $1.57 billion. Total revenues stood at $4.73 billion, with a rise in base fees and investment advisory performance fees. The average assets under management grew by 14% to $10.18 trillion.

For FY 2023, BlackRock posted an adjusted net income of $5.5 billion. The company’s revenue marginally decreased to $17.86 billion. However, operating margin improved in Q1 2024, leading to net income growth. Moving forward, the forecast suggests revenue hitting $20.3 billion in FY 2024.

Returns for BLK in May 2024 have been set at 8%, whereas YTD 2024 returns are at 0%. The total return from 2017-2024 is at 114%. Trefis Reinforced Value Portfolio shows a 6% return for May 2024, 6% for YTD 2024, and 653% total return since 2017.



Read more at Nasdaq: Trailing S&P500 BY 11% YTD, Where Is BlackRock Headed?