BlackRock, Inc. (BLK) Forecasted to Post Q2 2017 Earnings of $5.45 Per Share
BlackRock, Inc. (NYSE:BLK) – Analysts at Jefferies Group issued their Q2 2017 earnings per share estimates for shares of BlackRock in a research report issued to clients and investors on Tuesday. Jefferies Group analyst D. Fannon expects that the asset manager will earn $5.45 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $387.00 price objective on the stock. Jefferies Group also issued estimates for BlackRock’s Q3 2017 earnings at $5.71 EPS, Q4 2017 earnings at $6.25 EPS and FY2017 earnings at $22.65 EPS.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Wednesday, April 19th. The asset manager reported $5.25 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.31. The business had revenue of $2.82 billion during the quarter, compared to analyst estimates of $2.86 billion. BlackRock had a return on equity of 11.62% and a net margin of 29.74%. BlackRock’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.25 EPS.
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A number of other research firms have also recently commented on BLK. Morgan Stanley reiterated an “overweight” rating and set a $460.00 price objective (up previously from $422.00) on shares of BlackRock in a research report on Monday. Wells Fargo & Company reiterated a “market perform” rating and set a $425.00 price objective (up previously from $380.00) on shares of BlackRock in a research report on Wednesday. Deutsche Bank AG upped their price objective on BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a research report on Tuesday, July 4th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price objective for the company in a research report on Tuesday, June 20th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $450.00 price objective on shares of BlackRock in a research report on Monday, June 19th. Six research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $424.61.
Shares of BlackRock (NYSE BLK) opened at 435.29 on Thursday. The stock has a market capitalization of $70.89 billion, a price-to-earnings ratio of 21.39 and a beta of 1.71. The stock’s 50 day moving average price is $410.09 and its 200 day moving average price is $390.31. BlackRock has a 12 month low of $336.84 and a 12 month high of $436.52.
Institutional investors have recently added to or reduced their stakes in the company. Alpha Windward LLC raised its position in BlackRock by 0.6% in the first quarter. Alpha Windward LLC now owns 487 shares of the asset manager’s stock worth $187,000 after buying an additional 3 shares during the period. Eqis Capital Management Inc. raised its position in BlackRock by 0.5% in the first quarter. Eqis Capital Management Inc. now owns 609 shares of the asset manager’s stock worth $233,000 after buying an additional 3 shares during the period. National Asset Management Inc. raised its position in BlackRock by 0.4% in the first quarter. National Asset Management Inc. now owns 716 shares of the asset manager’s stock worth $275,000 after buying an additional 3 shares during the period. JNBA Financial Advisors raised its position in BlackRock by 0.4% in the first quarter. JNBA Financial Advisors now owns 910 shares of the asset manager’s stock worth $349,000 after buying an additional 4 shares during the period. Finally, Keel Point LLC raised its position in BlackRock by 0.9% in the first quarter. Keel Point LLC now owns 797 shares of the asset manager’s stock worth $306,000 after buying an additional 7 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Susan Wagner sold 2,500 shares of the company’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $414.31, for a total value of $1,035,775.00. Following the completion of the transaction, the director now owns 484,386 shares of the company’s stock, valued at $200,685,963.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Mark Mccombe sold 500 shares of the company’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $405.98, for a total value of $202,990.00. The disclosure for this sale can be found here. Corporate insiders own 1.86% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Monday, June 5th were given a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date was Thursday, June 1st. BlackRock’s payout ratio is 49.14%.
BlackRock Company Profile
BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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