BlackRock, Inc. (BLK) Expected to Post Quarterly Sales of $3.31 Billion
Equities research analysts expect BlackRock, Inc. (NYSE:BLK) to post $3.31 billion in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for BlackRock’s earnings, with estimates ranging from $3.28 billion to $3.35 billion. BlackRock posted sales of $2.89 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 14.5%. The firm is expected to announce its next quarterly earnings report on Friday, January 12th.
According to Zacks, analysts expect that BlackRock will report full-year sales of $3.31 billion for the current financial year, with estimates ranging from $12.23 billion to $12.38 billion. For the next financial year, analysts forecast that the firm will post sales of $13.63 billion per share, with estimates ranging from $13.40 billion to $13.83 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for BlackRock.
BlackRock (NYSE:BLK) last issued its earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share (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 firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period in the prior year, the business earned $5.14 EPS.
In other news, Director Susan Wagner sold 4,000 shares of the stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the completion of the transaction, the director now directly owns 481,915 shares in the company, valued at approximately $243,897,181.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Mark Mccombe sold 1,000 shares of the firm’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $478.99, for a total value of $478,990.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,200 shares of company stock valued at $2,599,302. Company insiders own 1.86% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. AXA boosted its holdings in BlackRock by 11.0% during the 3rd quarter. AXA now owns 90,952 shares of the asset manager’s stock valued at $40,663,000 after acquiring an additional 8,997 shares during the period. Institutional & Family Asset Management LLC boosted its holdings in BlackRock by 29.6% during the 3rd quarter. Institutional & Family Asset Management LLC now owns 2,068 shares of the asset manager’s stock valued at $925,000 after acquiring an additional 472 shares during the period. Steward Partners Investment Advisory LLC purchased a new position in BlackRock during the 3rd quarter valued at about $1,778,000. Public Employees Retirement System of Ohio boosted its holdings in BlackRock by 0.8% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 90,672 shares of the asset manager’s stock valued at $40,539,000 after acquiring an additional 719 shares during the period. Finally, GSA Capital Partners LLP purchased a new position in BlackRock during the 3rd quarter valued at about $207,000. Institutional investors own 83.74% of the company’s stock.
Shares of BlackRock (NYSE:BLK) opened at $512.13 on Tuesday. The company has a quick ratio of 2.89, a current ratio of 2.89 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $82,650.00, a price-to-earnings ratio of 23.92, a price-to-earnings-growth ratio of 1.79 and a beta of 1.80. BlackRock has a twelve month low of $365.83 and a twelve month high of $517.30.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Stockholders 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 dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, December 1st. BlackRock’s dividend payout ratio is presently 46.82%.
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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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