BlackRock Inc. (BLK) to Release Quarterly Earnings on Tuesday
BlackRock Inc. (NYSE:BLK) will post its Q316 quarterly earnings results on Tuesday, October 18th.
BlackRock (NYSE:BLK) last released its earnings results on Thursday, July 14th. The company reported $4.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.82 by $0.04. The firm earned $2.80 billion during the quarter, compared to analyst estimates of $2.81 billion. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. BlackRock’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.96 EPS. On average, analysts expect BlackRock to post $19.23 EPS for the current fiscal year and $22.39 EPS for the next fiscal year.
BlackRock Inc. (NYSE:BLK) opened at 354.91 on Monday. BlackRock Inc. has a 12-month low of $280.55 and a 12-month high of $376.65. The firm has a market cap of $58.37 billion, a price-to-earnings ratio of 18.91 and a beta of 1.46. The company has a 50-day moving average of $364.07 and a 200 day moving average of $357.11.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/17/blackrock-inc-blk-to-release-quarterly-earnings-on-tuesday.html
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were given a dividend of $2.29 per share. This represents a $9.16 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Wednesday, August 31st. BlackRock’s dividend payout ratio (DPR) is currently 48.83%.
In related news, insider Ryan Stork sold 1,400 shares of BlackRock stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $367.24, for a total transaction of $514,136.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan Wagner sold 79,346 shares of BlackRock stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $366.35, for a total transaction of $29,068,407.10. Following the transaction, the director now directly owns 587,365 shares of the company’s stock, valued at $215,181,167.75. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of BLK. American Century Companies Inc. boosted its position in shares of BlackRock by 102.4% in the second quarter. American Century Companies Inc. now owns 169,593 shares of the company’s stock worth $58,091,000 after buying an additional 85,793 shares during the period. Bank of Nova Scotia boosted its position in shares of BlackRock by 6.7% in the second quarter. Bank of Nova Scotia now owns 2,533 shares of the company’s stock worth $868,000 after buying an additional 160 shares during the period. Advantus Capital Management Inc boosted its position in shares of BlackRock by 0.8% in the second quarter. Advantus Capital Management Inc now owns 12,562 shares of the company’s stock worth $4,303,000 after buying an additional 100 shares during the period. Commonwealth Bank of Australia boosted its position in shares of BlackRock by 2.4% in the second quarter. Commonwealth Bank of Australia now owns 12,750 shares of the company’s stock worth $4,369,000 after buying an additional 296 shares during the period. Finally, Advisor Partners LLC boosted its position in shares of BlackRock by 6.6% in the second quarter. Advisor Partners LLC now owns 1,989 shares of the company’s stock worth $681,000 after buying an additional 123 shares during the period. 81.58% of the stock is owned by institutional investors.
Several research firms have recently weighed in on BLK. Barclays PLC restated a “hold” rating on shares of BlackRock in a research report on Sunday, July 17th. Deutsche Bank AG restated a “buy” rating and set a $392.00 price objective (up previously from $372.00) on shares of BlackRock in a research report on Sunday, July 10th. Keefe, Bruyette & Woods restated a “hold” rating and set a $393.00 price objective on shares of BlackRock in a research report on Friday. Jefferies Group restated a “hold” rating on shares of BlackRock in a research report on Friday, August 5th. Finally, Zacks Investment Research upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $385.26.
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.
Receive News & Ratings for BlackRock Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock Inc. and related companies with MarketBeat.com's FREE daily email newsletter.