Blackbaud, Inc. (BLKB) Expected to Announce Quarterly Sales of $198.05 Million
Equities research analysts predict that Blackbaud, Inc. (NASDAQ:BLKB) will announce $198.05 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Blackbaud’s earnings, with estimates ranging from $195.60 million to $202.00 million. Blackbaud posted sales of $183.06 million during the same quarter last year, which suggests a positive year over year growth rate of 8.2%. The company is scheduled to announce its next earnings report on Tuesday, November 7th.
According to Zacks, analysts expect that Blackbaud will report full-year sales of $198.05 million for the current fiscal year, with estimates ranging from $784.65 million to $794.00 million. For the next fiscal year, analysts forecast that the business will report sales of $854.25 million per share, with estimates ranging from $843.20 million to $864.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Blackbaud.
Blackbaud (NASDAQ:BLKB) last released its earnings results on Monday, July 31st. The technology company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.51 by $0.12. The firm had revenue of $192.50 million during the quarter, compared to analyst estimates of $193.66 million. Blackbaud had a net margin of 6.46% and a return on equity of 30.88%. The business’s revenue was up 6.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.46 earnings per share.
A number of analysts have weighed in on the company. B. Riley reaffirmed a “neutral” rating and issued a $78.00 price target on shares of Blackbaud in a research report on Monday, August 7th. Zacks Investment Research cut Blackbaud from a “hold” rating to a “strong sell” rating in a research report on Monday, August 7th. Stifel Nicolaus boosted their price target on Blackbaud from $79.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, May 1st. Finally, Benchmark Co. reissued a “buy” rating and set a $90.00 price objective (up previously from $85.00) on shares of Blackbaud in a research report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $81.71.
In related news, insider Michael P. Gianoni sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $87.77, for a total transaction of $351,080.00. Following the completion of the transaction, the insider now owns 258,921 shares of the company’s stock, valued at approximately $22,725,496.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sarah E. Nash sold 1,105 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $84.78, for a total value of $93,681.90. Following the transaction, the director now directly owns 22,272 shares of the company’s stock, valued at approximately $1,888,220.16. The disclosure for this sale can be found here. Insiders have sold a total of 15,470 shares of company stock valued at $1,326,561 in the last three months. 2.74% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in Blackbaud by 145,653.8% in the first quarter. BlackRock Inc. now owns 5,741,241 shares of the technology company’s stock valued at $440,182,000 after buying an additional 5,737,302 shares during the period. Vanguard Group Inc. boosted its position in Blackbaud by 5.1% in the first quarter. Vanguard Group Inc. now owns 4,239,186 shares of the technology company’s stock valued at $325,020,000 after buying an additional 205,672 shares during the period. Janus Henderson Group PLC boosted its position in Blackbaud by 787.4% in the second quarter. Janus Henderson Group PLC now owns 4,144,524 shares of the technology company’s stock valued at $355,393,000 after buying an additional 3,677,492 shares during the period. Wellington Management Group LLP boosted its position in Blackbaud by 7.7% in the first quarter. Wellington Management Group LLP now owns 2,591,699 shares of the technology company’s stock valued at $198,705,000 after buying an additional 184,366 shares during the period. Finally, Champlain Investment Partners LLC boosted its position in Blackbaud by 9.6% in the first quarter. Champlain Investment Partners LLC now owns 2,258,955 shares of the technology company’s stock valued at $173,194,000 after buying an additional 197,065 shares during the period.
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Blackbaud (BLKB) opened at 83.72 on Tuesday. The firm has a 50-day moving average price of $87.61 and a 200 day moving average price of $81.28. The firm has a market capitalization of $3.91 billion, a P/E ratio of 80.58 and a beta of 0.77. Blackbaud has a 52-week low of $55.88 and a 52-week high of $93.81.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Monday, August 28th will be given a dividend of $0.12 per share. The ex-dividend date is Thursday, August 24th. This represents a $0.48 annualized dividend and a dividend yield of 0.57%. Blackbaud’s dividend payout ratio is presently 47.06%.
Blackbaud Company Profile
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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