Company Update (NYSE:BK): China and Germany Jump as Perceived Sources of Investment Capital, According to BNY Mellon Investor Relations Survey

[PR Newswire] – NEW YORK, Jan. 25, 2016 /PRNewswire/ — After the United States and the United Kingdom, China and Germany are now rated by companies as the most strategic sources of new investment capital over the next five years, reflecting those countries’ growing economic clout, according to BNY Mellon’s annual investor relations survey. China moved up from fifth to third place, while Germany surged from seventh to fourth place, overtaking Singapore and Japan’s spots in the prior survey. Companies also continue to increase their outreach to sovereign wealth funds (SWFs), with 65% of respondents engaging with SWFs over the past year, up from 57% in 2013. Read more on this. The Bank of New York Mellon Corporation (BK) , with a current market cap of $37.63B, started the session at $35.02. Today, shares have traded between $34.63 and $35.20 per share with its 52-week range being $34.24 to $45.45. BK shares are currently priced at 11.56x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry ’s 14.09x earnings multiple. The company pays shareholders $0.68 per share annually in dividends, yielding 1.93%. Consensus earnings for the current quarter by the 19 sell-side analysts covering the stock is an estimate of $0.68 per share, which would be $0.01 better than the year-ago quarter and a $0.03 sequential decrease. The full-year EPS estimate is $3.04 which would be a $0.19 improvement than last year’s full-year earnings. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $3.76 Billion. If realized, that would be a 0.00% decrease over the year-ago quarter. More recently, JP Morgan upgraded BK from Neutral to Overweight (Jan 7, 2016). Previously, BofA/Merrill upgraded BK from Neutral to Buy. When considering if the stock is under or overvalued, the average price target is $44.11, which is 25.96% above where the stock opened this morning. See more in (NYSE:BK) Similar Articles: Stock Update (NYSE:BK): BNY Mellon Investment Management Launches Multi-Strategy Absolute Return Fund Managed by Insight Investment Company Update: The Bank of New York Mellon Corporation (NYSE:BK) – BNY Mellon Launches New U.S. Government Securities Clearing Platform Powered by Innovative Technology Capabilities Company Update: The Bank of New York Mellon Corporation (NYSE:BK) – BNY Mellon Named to Dow Jones Sustainability World Index for Second Consecutive Year
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