$5.54 Earnings Per Share Expected for BlackRock, Inc. (BLK) This Quarter
Wall Street brokerages expect BlackRock, Inc. (NYSE:BLK) to report $5.54 earnings per share for the current quarter, Zacks reports. Four analysts have issued estimates for BlackRock’s earnings, with estimates ranging from $5.30 to $5.71. BlackRock reported earnings per share of $5.14 during the same quarter last year, which would indicate a positive year over year growth rate of 7.8%. The company is scheduled to report its next quarterly earnings report on Tuesday, October 17th.
According to Zacks, analysts expect that BlackRock will report full year earnings of $21.98 per share for the current financial year, with EPS estimates ranging from $21.52 to $22.65. For the next year, analysts anticipate that the business will report earnings of $24.90 per share, with EPS estimates ranging from $24.20 to $25.77. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of analysts that follow BlackRock.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 earnings per share for the quarter, missing the consensus estimate of $5.39 by $0.15. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.01 billion. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The business’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same period in the previous year, the company earned $4.78 EPS.
Several research firms recently issued reports on BLK. Morgan Stanley reiterated an “overweight” rating and issued a $460.00 price target (up previously from $422.00) on shares of BlackRock in a report on Monday, July 10th. Jefferies Group LLC reiterated a “hold” rating and issued a $387.00 price target on shares of BlackRock in a report on Wednesday, May 17th. BidaskClub upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 1st. Deutsche Bank AG reiterated a “buy” rating and issued a $441.00 price target (down previously from $449.00) on shares of BlackRock in a report on Saturday, April 22nd. Finally, Credit Suisse Group reiterated an “outperform” rating and issued a $534.00 price target on shares of BlackRock in a report on Tuesday, July 18th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. BlackRock presently has an average rating of “Buy” and a consensus price target of $443.00.
Shares of BlackRock (BLK) opened at 416.55 on Friday. The company has a 50-day moving average of $428.07 and a 200 day moving average of $401.25. The firm has a market cap of $67.57 billion, a P/E ratio of 19.99 and a beta of 1.71. BlackRock has a 12-month low of $336.84 and a 12-month high of $442.84.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be issued a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is currently 47.98%.
In other news, insider Mark Mccombe sold 500 shares of BlackRock stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $405.98, for a total transaction of $202,990.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Jeff A. Smith sold 250 shares of BlackRock stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total value of $108,717.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,772 shares of company stock worth $1,567,516. Company insiders own 1.86% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in BLK. Vanguard Group Inc. boosted its position in BlackRock by 8.4% in the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock valued at $3,569,693,000 after buying an additional 656,569 shares during the period. Capital World Investors boosted its position in BlackRock by 12.9% in the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock valued at $3,001,358,000 after buying an additional 810,667 shares during the period. BlackRock Inc. boosted its position in BlackRock by 3.2% in the second quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock valued at $2,851,570,000 after buying an additional 209,209 shares during the period. State Street Corp boosted its position in BlackRock by 2.1% in the first quarter. State Street Corp now owns 5,445,766 shares of the asset manager’s stock valued at $2,088,501,000 after buying an additional 112,993 shares during the period. Finally, Wells Fargo & Company MN boosted its position in BlackRock by 4.1% in the first quarter. Wells Fargo & Company MN now owns 2,041,394 shares of the asset manager’s stock valued at $782,896,000 after buying an additional 80,433 shares during the period. Institutional investors and hedge funds own 80.33% of the company’s stock.
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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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