BlackRock Inc. (BLK) Forecasted to Earn Q3 2016 Earnings of $5.10 Per Share
BlackRock Inc. (NYSE:BLK) – Jefferies Group increased their Q3 2016 earnings per share estimates for shares of BlackRock in a report issued on Tuesday. Jefferies Group analyst D. Fannon now forecasts that the brokerage will post earnings of $5.10 per share for the quarter, up from their previous forecast of $5.06. Jefferies Group has a “Hold” rating and a $367.00 price target on the stock. Jefferies Group also issued estimates for BlackRock’s Q4 2016 earnings at $5.50 EPS, FY2016 earnings at $19.62 EPS and FY2017 earnings at $23.65 EPS.
Other equities research analysts also recently issued reports about the stock. Credit Suisse Group AG reiterated a “buy” rating on shares of BlackRock in a research report on Tuesday, July 12th. Deutsche Bank AG restated a “buy” rating and issued a $392.00 price target (up previously from $372.00) on shares of BlackRock in a research report on Sunday, July 10th. Citigroup Inc. restated a “buy” rating on shares of BlackRock in a research report on Thursday, June 16th. Goldman Sachs Group Inc. downgraded shares of BlackRock from a “conviction-buy” rating to a “buy” rating and boosted their price target for the stock from $390.00 to $400.00 in a research report on Monday, August 8th. Finally, Vetr upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $382.97 price target on the stock in a research report on Wednesday, August 10th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $383.19.
Shares of BlackRock (NYSE:BLK) traded up 0.09% on Wednesday, reaching $352.18. 199,155 shares of the company traded hands. BlackRock has a one year low of $280.55 and a one year high of $376.65. The firm has a 50-day moving average price of $365.63 and a 200 day moving average price of $357.08. The company has a market capitalization of $57.92 billion, a PE ratio of 18.76 and a beta of 1.46.
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BlackRock (NYSE:BLK) last announced its earnings results on Thursday, July 14th. The company reported $4.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.82 by $0.04. BlackRock had a return on equity of 11.07% and a net margin of 28.12%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the previous year, the company posted $4.96 EPS. The business’s revenue for the quarter was down 3.5% compared to the same quarter last year.
Hedge funds have recently bought and sold shares of the company. Cohen & Steers Inc. raised its stake in BlackRock by 5,080.7% in the second quarter. Cohen & Steers Inc. now owns 1,484,377 shares of the company’s stock valued at $38,371,000 after buying an additional 1,455,725 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in shares of BlackRock during the second quarter worth $87,641,000. JPMorgan Chase & Co. increased its position in shares of BlackRock by 7.0% in the second quarter. JPMorgan Chase & Co. now owns 3,372,334 shares of the company’s stock worth $1,155,126,000 after buying an additional 219,654 shares during the period. Alleghany Corp DE increased its position in shares of BlackRock by 77.8% in the second quarter. Alleghany Corp DE now owns 400,000 shares of the company’s stock worth $136,984,000 after buying an additional 175,000 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of BlackRock by 2.1% in the second quarter. Vanguard Group Inc. now owns 7,326,122 shares of the company’s stock worth $2,509,417,000 after buying an additional 150,093 shares during the period. Hedge funds and other institutional investors own 81.58% of the company’s stock.
In other news, Director James Grosfeld sold 25,379 shares of the company’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $374.22, for a total value of $9,497,329.38. Following the completion of the sale, the director now owns 514,402 shares in the company, valued at approximately $192,499,516.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director J. Richard Kushel sold 8,000 shares of the company’s stock in a transaction on Friday, July 15th. The stock was sold at an average price of $356.55, for a total transaction of $2,852,400.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.
The company also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were paid a $2.29 dividend. The ex-dividend date was Wednesday, August 31st. This represents a $9.16 annualized dividend and a dividend yield of 2.60%. BlackRock’s payout ratio is 48.83%.
BlackRock Company Profile
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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