Boston, MA 07/19/2013 (wallstreetpr) – The investment management firm, BlackRock, Inc. (NYSE:BLK) had recently reported its earnings results for the second quarter of fiscal year 2013 in which the company had managed to beat the estimates of EPS by analysts, despite missing the estimates on revenue. The world’s largest fund manager, by assets, had reported earnings per share at $4.15 for this quarter with revenues at $2.48 billion for the three months period that ended on June 30, 2013.
The analysts’ consensus estimates had been fixed at $3.82 earnings per basic and diluted share of the company on revenues of $2.49 billion for this quarter. Further, the investment management firm had proved efficient in increasing its revenues and earnings over the year, which had been at $3.10 earnings per share and revenues at $2.2 billion for the same quarter of previous year. The shares of BlackRock, Inc. (NYSE:BLK) had been growing impressively in the year presenting a gain of more than 30 percent since January 2013. The company is presently trading with a price of equity ratio of nearly twenty, which proves to be too high for the industry. In fact, few of the researchers had also downgraded the shares of BLK based on the belief that the strong optimism presently surrounding the company had already been priced into the shares.
Shares of BlackRock, Inc. (NYSE:BLK) had moved on to gain 2.43% on Thursday and thereby closed at $278.91 per share for the day. The company had recorded intraday price fluctuations moving from as low as $272.30 to as high as $279.63 on the day. The 52 week low for the stock is at $163.85 and 52 week high is at $298.14 per share.
The company holds 170.84 million shares and 90% of institutional ownership with a market cap of $47.65 billion. On Thursday, there had been a trading volume of 1.23 million shares of the company while the average is at 992,726.00 shares per day.