Brokerages Expect BlackRock, Inc. (BLK) Will Post Earnings of $5.91 Per Share
Brokerages expect that BlackRock, Inc. (NYSE:BLK) will post earnings of $5.91 per share for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for BlackRock’s earnings, with the highest EPS estimate coming in at $6.10 and the lowest estimate coming in at $5.74. BlackRock reported earnings of $5.14 per share during the same quarter last year, which indicates a positive year over year growth rate of 15%. The company is scheduled to issue its next quarterly earnings report on Friday, January 12th.
According to Zacks, analysts expect that BlackRock will report full-year earnings of $22.29 per share for the current financial year, with EPS estimates ranging from $22.13 to $22.50. For the next year, analysts expect that the firm will report earnings of $25.28 per share, with EPS estimates ranging from $24.60 to $26.92. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover BlackRock.
BlackRock (NYSE:BLK) last released its earnings results on Wednesday, October 11th. The asset manager reported $5.92 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.49 by $0.43. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.10 billion. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The business’s revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the business posted $5.14 EPS.
Several equities analysts recently issued reports on BLK shares. BidaskClub cut BlackRock from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Jefferies Group LLC restated a “hold” rating and set a $440.00 price objective on shares of BlackRock in a research note on Friday, August 18th. Credit Suisse Group restated an “outperform” rating on shares of BlackRock in a research note on Tuesday, August 29th. Barclays PLC started coverage on BlackRock in a research note on Friday, September 8th. They set an “overweight” rating and a $475.00 price objective on the stock. Finally, Goldman Sachs Group, Inc. (The) upgraded BlackRock from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $440.00 to $500.00 in a research note on Thursday, September 28th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $489.08.
Shares of BlackRock (NYSE BLK) traded down $2.42 on Wednesday, reaching $478.94. The company had a trading volume of 265,359 shares, compared to its average volume of 527,324. BlackRock has a 52-week low of $365.83 and a 52-week high of $489.79. The company has a market capitalization of $76,790.00, a PE ratio of 22.03, a PEG ratio of 1.64 and a beta of 1.79. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Monday, December 4th will be issued a dividend of $2.50 per share. This represents a $10.00 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Friday, December 1st. BlackRock’s payout ratio is currently 46.82%.
In related news, insider Mark Mccombe sold 1,000 shares of the stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $478.99, for a total value of $478,990.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J. Richard Kushel sold 100 shares of the stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $481.58, for a total value of $48,158.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,875 shares of company stock worth $2,101,166. 1.86% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. Financial Architects Inc boosted its position in shares of BlackRock by 0.7% in the 2nd quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock valued at $123,000 after purchasing an additional 2 shares during the period. Davis R M Inc. boosted its position in BlackRock by 0.4% during the 2nd quarter. Davis R M Inc. now owns 564 shares of the asset manager’s stock worth $238,000 after acquiring an additional 2 shares during the period. National Asset Management Inc. boosted its position in BlackRock by 0.4% during the 1st quarter. National Asset Management Inc. now owns 716 shares of the asset manager’s stock worth $275,000 after acquiring an additional 3 shares during the period. Proficio Capital Partners LLC boosted its position in BlackRock by 1.2% during the 2nd quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock worth $111,000 after acquiring an additional 3 shares during the period. Finally, ZWJ Investment Counsel Inc. boosted its position in BlackRock by 0.4% during the 2nd quarter. ZWJ Investment Counsel Inc. now owns 688 shares of the asset manager’s stock worth $291,000 after acquiring an additional 3 shares during the period. Institutional investors and hedge funds own 82.13% 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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