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MarketScreener Homepage  >  Equities  >  Nyse  >  BlackRock, Inc.    BLK

BLACKROCK, INC.

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Delayed Quote. Delayed Nyse - 11/30 04:10:00 pm
698.35 USD   -2.34%
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BlackRock's Fink 'pretty bearish' on emerging markets

10/16/2020 | 08:49pm EST
A sign for BlackRock Inc hangs above their building in New York

NEW YORK (Reuters) - BlackRock CEO Larry Fink said on Friday he believes emerging markets are on a downward slide as he sees strong macro trends weighing on the asset class.

"I am pretty bearish on the emerging world," Fink said at an online event hosted by the Institute of International Finance.

He said the COVID-19 pandemic is taxing emerging economies and their health systems more than developed countries, de-globalization is hurting the commodity-dependent countries and the group is more sensitive to effects of climate change.

"When we talk about climate change, and we think that's a big issue and a reallocation of capital," Fink said, "part of that reallocation of capital is movement out of the emerging world."

Outside these global macro trends, a lack of trust in EM governments is further hurting the asset class, the head of BlackRock said.

"We're seeing a flip-flop of governments. One government could raise a lot of debt, new government comes in and (there's) different behaviors, different attitudes, and it doesn't create any confidence for the debt holders," Fink said.

"The risk premium that you're going to have to demand to invest in the emerging markets is growing persistently."

Following a sharp spike in March as COVID-19-related shutdowns spread all over the world, the rolling-year average premium demanded to hold EM debt rose to its highest in more than a decade.

(GRAPHIC - JPMorgan EMBI Global Diversified: https://graphics.reuters.com/IMF-WORLDBANK/BLACKROCK/xlbpgwoqepq/chart.png)

BlackRock is the world's largest asset manager with almost $8 trillion under management.

Fink added that many emerging countries are going to have to restructure their debt and their leaders are not aware of who is holding the debt and how that affects a restructuring.

"I have had three or four conversations with leaders of different emerging countries... it's like I'm telling them some facts from outer space," Fink said.

(Reporting by Rodrigo Campos in New York and Ross Kerber in Boston; Editing by Cynthia Osterman)


© Reuters 2020
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Financials (USD)
Sales 2020 15 902 M - -
Net income 2020 4 682 M - -
Net cash 2020 1 237 M - -
P/E ratio 2020 23,1x
Yield 2020 2,08%
Capitalization 107 B 107 B -
EV / Sales 2020 6,62x
EV / Sales 2021 6,13x
Nbr of Employees 16 600
Free-Float 87,5%
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Technical analysis trends BLACKROCK, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 17
Average target price 719,06 $
Last Close Price 698,35 $
Spread / Highest target 14,6%
Spread / Average Target 2,97%
Spread / Lowest Target -13,8%
EPS Revisions
Managers
NameTitle
Laurence Douglas Fink Chairman & Chief Executive Officer
Robert Steven Kapito President & Non-Independent Director
Robert L. Goldstein Chief Operating Officer & Senior Managing Director
Gary S. Shedlin Chief Financial Officer & Senior Managing Director
Derek N. Stein Global Head-Business Operations & Technology
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