Analysts Issue Forecasts for BlackRock, Inc.’s FY2019 Earnings (BLK)
BlackRock, Inc. (NYSE:BLK) – Jefferies Group issued their FY2019 earnings per share (EPS) estimates for shares of BlackRock in a research note issued on Tuesday. Jefferies Group analyst D. Fannon expects that the asset manager will post earnings per share of $28.39 for the year. Jefferies Group currently has a “Hold” rating and a $440.00 target price on the stock.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Monday, October 16th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.49 by $0.43. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the company earned $5.14 EPS. The firm’s revenue was up 14.0% on a year-over-year basis.
Other analysts also recently issued reports about the company. Deutsche Bank AG increased their price objective on BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a report on Tuesday, July 4th. BidaskClub downgraded BlackRock from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Bank of America Corporation restated a “buy” rating and issued a $450.00 price objective on shares of BlackRock in a report on Monday, June 19th. Goldman Sachs Group, Inc. (The) upgraded BlackRock from a “neutral” rating to a “buy” rating and increased their price objective for the company from $440.00 to $500.00 in a report on Thursday, September 28th. Finally, Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price objective for the company in a report on Tuesday, October 3rd. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. BlackRock currently has a consensus rating of “Buy” and a consensus price target of $462.00.
BlackRock (BLK) traded up 1.622% on Wednesday, hitting $473.041. The stock had a trading volume of 716,629 shares. The company has a 50 day moving average of $432.25 and a 200 day moving average of $414.01. BlackRock has a 12-month low of $336.84 and a 12-month high of $474.00. The company has a market capitalization of $76.15 billion, a PE ratio of 22.710 and a beta of 1.72.
The company also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th were given a dividend of $2.50 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a yield of 2.15%. BlackRock’s dividend payout ratio (DPR) is currently 47.98%.
In other news, insider Robert W. Fairbairn sold 3,675 shares of the stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. 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 the stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $434.87, for a total transaction of $108,717.50. The disclosure for this sale can be found here. Insiders have sold 4,447 shares of company stock worth $1,855,015 in the last ninety days. Insiders own 1.86% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in BLK. Salem Investment Counselors Inc. boosted its position in shares of BlackRock by 14.3% during the 2nd quarter. Salem Investment Counselors Inc. now owns 240 shares of the asset manager’s stock worth $101,000 after purchasing an additional 30 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of BlackRock by 48.9% during the 1st quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after purchasing an additional 85 shares in the last quarter. Enterprise Financial Services Corp boosted its position in shares of BlackRock by 52.5% during the 2nd quarter. Enterprise Financial Services Corp now owns 247 shares of the asset manager’s stock worth $104,000 after purchasing an additional 85 shares in the last quarter. Penserra Capital Management LLC bought a new position in shares of BlackRock during the 2nd quarter worth about $104,000. Finally, Kings Point Capital Management boosted its position in shares of BlackRock by 34.5% during the 1st quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock worth $105,000 after purchasing an additional 70 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.
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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