Brokers Offer Predictions for BlackRock, Inc.’s Q3 2017 Earnings (BLK)
BlackRock, Inc. (NYSE:BLK) – Equities research analysts at Jefferies Group boosted their Q3 2017 earnings per share (EPS) estimates for shares of BlackRock in a research note issued to investors on Tuesday. Jefferies Group analyst D. Fannon now anticipates that the asset manager will post earnings of $5.63 per share for the quarter, up from their previous forecast of $5.58. Jefferies Group has a “Hold” rating and a $465.00 price objective on the stock. Jefferies Group also issued estimates for BlackRock’s Q4 2017 earnings at $6.09 EPS, FY2017 earnings at $22.19 EPS and FY2018 earnings at $25.15 EPS.
A number of other equities analysts have also recently issued reports on the company. UBS AG increased their target price on BlackRock from $51.00 to $52.00 and gave the stock a “buy” rating in a report on Thursday. Credit Suisse Group restated an “outperform” rating and issued a $612.00 price objective (up previously from $597.00) on shares of BlackRock in a report on Thursday. 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. Keefe, Bruyette & Woods restated a “hold” rating and issued a $500.00 price objective on shares of BlackRock in a report on Thursday. Finally, Morgan Stanley restated an “overweight” rating and issued a $501.00 price objective (up previously from $476.00) on shares of BlackRock in a report on Thursday, October 5th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. BlackRock presently has a consensus rating of “Buy” and an average target price of $445.46.
Shares of BlackRock (NYSE BLK) opened at 473.93 on Thursday. The stock has a market capitalization of $76.87 billion, a P/E ratio of 22.75 and a beta of 1.72. The firm’s 50-day moving average price is $433.75 and its 200 day moving average price is $414.44. BlackRock has a 12-month low of $336.84 and a 12-month high of $474.37.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, topping analysts’ consensus estimates of $5.49 by $0.43. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The company had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period last year, the business posted $5.14 EPS. The company’s quarterly revenue was up 14.0% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th were given a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Thursday, August 31st. BlackRock’s dividend payout ratio (DPR) is currently 47.98%.
In other news, insider Jeff A. Smith sold 250 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,447 shares of company stock worth $1,855,015. Corporate insiders own 1.86% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Financial Architects Inc raised its position in shares of BlackRock by 0.7% during the 2nd quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock valued at $123,000 after buying an additional 2 shares in the last quarter. Davis R M Inc. raised its position in BlackRock by 0.4% in the 2nd quarter. Davis R M Inc. now owns 564 shares of the asset manager’s stock worth $238,000 after purchasing an additional 2 shares during the period. National Asset Management Inc. raised its position in BlackRock by 0.4% in the 1st quarter. National Asset Management Inc. now owns 716 shares of the asset manager’s stock worth $275,000 after purchasing an additional 3 shares during the period. Proficio Capital Partners LLC raised its position in BlackRock by 1.2% in the 2nd quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock worth $111,000 after purchasing an additional 3 shares during the period. Finally, ZWJ Investment Counsel Inc. raised its position in BlackRock by 0.4% in the 2nd quarter. ZWJ Investment Counsel Inc. now owns 688 shares of the asset manager’s stock worth $291,000 after purchasing an additional 3 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.
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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