Ranjit Thomas

Blackrock is a Prime Example of Irony in the Market

The stock is at 25x last year's earnings, which included a good deal of "one-time" costs being excluded from proforma results and included a lot of one-time gains. This year's estimates are likely too high as people are projecting from last year's numbers. They already missed Q1 estimates, and in my opinion, will keep missing. True earnings power is about $7 EPS, so put a generous 20x multiple, and you get only a $140 stock.