Here's Why This Beaten-Down Dividend Stock Is a Buy
Over the long run, financial markets tend to overcome uncertainty. But that doesn't happen without significant volatility in the near term. Investors have been reminded of these realities in 2022. The S&P 500 has dropped 16% so far this year.
And since asset managers are dependent on stable equity prices to support their assets under management and investment advisory fees, BlackRock's (NYSE: BLK) stock price has plunged 29% in 2022. But this has arguably created a great buying opportunity for income investors. Let's dig into BlackRock's fundamentals and valuation to better understand why this is the case.
In mid-July, BlackRock shared its financial results for the second quarter, which ended June 30. Because of significant challenges during the period, the company's earnings results were mixed.
Source Fool.com
