Gabelli Equities Analysts Decrease Earnings Estimates for BlackRock, Inc. (BLK)
BlackRock, Inc. (NYSE:BLK) – Research analysts at Gabelli reduced their Q4 2017 earnings per share (EPS) estimates for shares of BlackRock in a report released on Thursday. Gabelli analyst M. Sykes now forecasts that the asset manager will post earnings per share of $5.74 for the quarter, down from their prior estimate of $6.01. Gabelli also issued estimates for BlackRock’s FY2018 earnings at $25.35 EPS, FY2019 earnings at $29.00 EPS, FY2020 earnings at $33.25 EPS and FY2021 earnings at $38.35 EPS.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.49 by $0.43. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.10 billion. BlackRock had a return on equity of 12.09% and a net margin of 29.52%. The business’s revenue was up 14.0% compared to the same quarter last year. During the same period in the prior year, the business earned $5.14 earnings per share. COPYRIGHT VIOLATION WARNING: This piece was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2017/10/16/gabelli-equities-analysts-decrease-earnings-estimates-for-blackrock-inc-blk.html.
A number of other research analysts have also recently weighed in on BLK. Bank of America Corporation reissued a “buy” rating and set a $450.00 price objective on shares of BlackRock in a research note on Monday, June 19th. BidaskClub raised shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Deutsche Bank AG raised their price objective on shares of BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a research note on Tuesday, July 4th. Morgan Stanley reissued an “overweight” rating and set a $460.00 price objective (up from $422.00) on shares of BlackRock in a research note on Monday, July 10th. Finally, Wells Fargo & Company reaffirmed a “market perform” rating and issued a $425.00 target price (up from $380.00) on shares of BlackRock in a research note on Wednesday, July 12th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $478.50.
Shares of BlackRock (NYSE:BLK) opened at 475.49 on Monday. The stock has a market capitalization of $76.84 billion, a price-to-earnings ratio of 22.27 and a beta of 1.72. BlackRock has a 52-week low of $336.84 and a 52-week high of $485.23. The stock has a 50 day moving average price of $437.85 and a 200-day moving average price of $416.14.
The business also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th were issued a $2.50 dividend. The ex-dividend date was Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.10%. BlackRock’s dividend payout ratio (DPR) is presently 46.82%.
In other BlackRock news, insider Jeff A. Smith sold 522 shares of BlackRock stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $421.52, for a total value of $220,033.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert W. Fairbairn sold 3,675 shares of BlackRock 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 quarter, insiders sold 5,547 shares of company stock worth $2,382,163. 1.86% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in BLK. Waldron LP boosted its holdings in shares of BlackRock by 108.2% in the 1st quarter. Waldron LP now owns 1,164 shares of the asset manager’s stock valued at $446,000 after purchasing an additional 605 shares during the last quarter. Catalyst Capital Advisors LLC boosted its holdings in shares of BlackRock by 20.0% in the 1st quarter. Catalyst Capital Advisors LLC now owns 600 shares of the asset manager’s stock valued at $230,000 after purchasing an additional 100 shares during the last quarter. Vision Capital Management Inc. boosted its holdings in shares of BlackRock by 5.4% in the 1st quarter. Vision Capital Management Inc. now owns 3,539 shares of the asset manager’s stock valued at $1,357,000 after purchasing an additional 180 shares during the last quarter. Ingalls & Snyder LLC boosted its holdings in shares of BlackRock by 94.7% in the 1st quarter. Ingalls & Snyder LLC now owns 1,970 shares of the asset manager’s stock valued at $756,000 after purchasing an additional 958 shares during the last quarter. Finally, Keybank National Association OH boosted its holdings in shares of BlackRock by 5.2% in the 1st quarter. Keybank National Association OH now owns 88,289 shares of the asset manager’s stock valued at $33,860,000 after purchasing an additional 4,350 shares during the last quarter. Institutional investors own 82.47% of the company’s stock.
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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