FY2017 EPS Estimates for BlackRock, Inc. Boosted by Analyst (BLK)
BlackRock, Inc. (NYSE:BLK) – Equities research analysts at Gabelli upped their FY2017 earnings per share estimates for BlackRock in a note issued to investors on Thursday. Gabelli analyst M. Sykes now forecasts that the asset manager will earn $22.13 per share for the year, up from their previous estimate of $22.04.
BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, topping the consensus estimate of $5.49 by $0.43. BlackRock had a net margin of 29.52% and a return on equity of 12.09%. The firm had revenue of $3.23 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the previous year, the business earned $5.14 earnings per share. BlackRock’s revenue for the quarter was up 14.0% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: “FY2017 EPS Estimates for BlackRock, Inc. Boosted by Analyst (BLK)” was first posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://www.americanbankingnews.com/2017/10/13/fy2017-eps-estimates-for-blackrock-inc-boosted-by-analyst-blk.html.
Several other brokerages have also issued reports on BLK. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $440.00 price target on shares of BlackRock in a research note on Friday, July 14th. Goldman Sachs Group, Inc. (The) raised BlackRock from a “neutral” rating to a “buy” rating and increased their target price for the company from $440.00 to $500.00 in a research note on Thursday, September 28th. Wells Fargo & Company reissued a “market perform” rating and issued a $475.00 target price (up previously from $450.00) on shares of BlackRock in a research note on Thursday. Bank of America Corporation reissued a “buy” rating and issued a $450.00 target price on shares of BlackRock in a research note on Monday, June 19th. Finally, Barclays PLC started coverage on BlackRock in a research note on Friday, September 8th. They issued an “overweight” rating and a $475.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $478.50.
The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Thursday, August 31st. BlackRock’s dividend payout ratio is currently 46.82%.
In other news, insider Jeff A. Smith sold 250 shares of the firm’s 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Robert W. Fairbairn sold 3,675 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total value of $1,526,264.25. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,447 shares of company stock worth $1,855,015. 1.86% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BLK. BlackRock Inc. raised its position in shares of BlackRock by 2,775.4% during the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock worth $2,508,733,000 after purchasing an additional 6,314,004 shares during the period. Third Point LLC bought a new position in shares of BlackRock during the second quarter worth about $654,736,000. Harbour Capital Advisors LLC grew its holdings in shares of BlackRock by 38,807.6% during the second quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock worth $2,848,000 after buying an additional 1,199,932 shares in the last quarter. Capital World Investors grew its holdings in shares of BlackRock by 12.9% during the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after buying an additional 810,667 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of BlackRock by 8.4% during the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock worth $3,569,693,000 after buying an additional 656,569 shares in the last quarter. 82.47% of the stock is currently owned by institutional investors.
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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