$0.38 EPS Expected for Blackbaud, Inc. (NASDAQ:BLKB) This Quarter
Equities analysts expect that Blackbaud, Inc. (NASDAQ:BLKB) will report earnings of $0.38 per share for the current quarter, according to Zacks. Five analysts have made estimates for Blackbaud’s earnings, with the lowest EPS estimate coming in at $0.36 and the highest estimate coming in at $0.40. Blackbaud posted earnings of $0.35 per share during the same quarter last year, which would suggest a positive year over year growth rate of 8.6%. The business is scheduled to report its next earnings results after the market closes on Monday, July 31st.
On average, analysts expect that Blackbaud will report full year earnings of $1.61 per share for the current year, with EPS estimates ranging from $1.56 to $1.65. For the next fiscal year, analysts anticipate that the firm will report earnings of $1.83 per share, with EPS estimates ranging from $1.70 to $1.95. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Blackbaud.
Blackbaud (NASDAQ:BLKB) last released its quarterly earnings results on Monday, May 1st. The technology company reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by $0.01. Blackbaud had a net margin of 6.11% and a return on equity of 31.13%. The company had revenue of $183.62 million for the quarter, compared to the consensus estimate of $182.95 million. During the same period in the prior year, the firm posted $0.42 EPS. The business’s revenue for the quarter was up 7.4% on a year-over-year basis.
BLKB has been the subject of a number of recent research reports. Benchmark Co. reiterated a “buy” rating and set a $90.00 price objective (up previously from $85.00) on shares of Blackbaud in a research note on Tuesday, May 2nd. Stifel Nicolaus lifted their price objective on Blackbaud from $79.00 to $83.00 and gave the company a “buy” rating in a research note on Monday, May 1st. B. Riley lowered Blackbaud from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research note on Wednesday, May 3rd. Raymond James Financial, Inc. initiated coverage on Blackbaud in a research note on Wednesday, April 19th. They set an “outperform” rating and a $90.00 price objective for the company. Finally, Zacks Investment Research lowered Blackbaud from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. Blackbaud has an average rating of “Hold” and a consensus price target of $76.13.
Blackbaud (NASDAQ:BLKB) traded up 1.57% during mid-day trading on Wednesday, reaching $89.70. The company’s stock had a trading volume of 225,397 shares. The company has a market capitalization of $4.17 billion, a price-to-earnings ratio of 90.70 and a beta of 0.76. Blackbaud has a one year low of $55.88 and a one year high of $92.73. The stock has a 50-day moving average price of $87.02 and a 200-day moving average price of $77.43.
In other news, Director Sarah E. Nash sold 825 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $78.67, for a total transaction of $64,902.75. Following the sale, the director now directly owns 20,652 shares in the company, valued at approximately $1,624,692.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP John J. Mistretta sold 4,016 shares of the firm’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $83.00, for a total value of $333,328.00. Following the sale, the executive vice president now owns 87,165 shares in the company, valued at $7,234,695. The disclosure for this sale can be found here. Insiders have sold a total of 14,224 shares of company stock worth $1,152,915 over the last 90 days. Insiders own 2.74% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in Blackbaud during the fourth quarter worth approximately $42,403,000. Macquarie Group Ltd. boosted its stake in Blackbaud by 1.0% in the fourth quarter. Macquarie Group Ltd. now owns 695,598 shares of the technology company’s stock worth $44,518,000 after buying an additional 6,873 shares during the period. Foundry Partners LLC acquired a new stake in Blackbaud during the first quarter worth approximately $201,000. Raymond James Trust N.A. acquired a new stake in Blackbaud during the first quarter worth approximately $220,000. Finally, Bank of Montreal Can boosted its stake in Blackbaud by 0.7% in the first quarter. Bank of Montreal Can now owns 15,456 shares of the technology company’s stock worth $1,185,000 after buying an additional 111 shares during the period.
Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).
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