Wall Street analysts expect Blackhawk Network Holdings Inc (NASDAQ:HAWK) to announce sales of $384.70 million for the current quarter, according to Zacks. Six analysts have made estimates for Blackhawk Network’s earnings. The highest sales estimate is $394.80 million and the lowest is $373.82 million. Blackhawk Network reported sales of $352.01 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.3%. The business is expected to announce its next quarterly earnings report on Wednesday, February 21st.
On average, analysts expect that Blackhawk Network will report full-year sales of $384.70 million for the current fiscal year, with estimates ranging from $972.90 million to $1.07 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.09 billion per share, with estimates ranging from $1.03 billion to $1.18 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Blackhawk Network.
HAWK has been the subject of several recent research reports. BidaskClub downgraded Blackhawk Network from a “sell” rating to a “strong sell” rating in a research note on Friday, December 22nd. SunTrust Banks set a $43.00 price objective on Blackhawk Network and gave the company a “buy” rating in a research note on Thursday, October 12th. Zacks Investment Research downgraded Blackhawk Network from a “buy” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets lowered their price objective on Blackhawk Network from $52.00 to $51.00 and set an “outperform” rating for the company in a research note on Friday, October 13th. Finally, Bank of America decreased their target price on shares of Blackhawk Network from $50.00 to $46.00 and set a “neutral” rating for the company in a research report on Thursday, October 12th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the stock. Blackhawk Network presently has an average rating of “Hold” and an average price target of $47.92.
Several institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. boosted its holdings in shares of Blackhawk Network by 11.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 305,251 shares of the credit services provider’s stock worth $10,883,000 after buying an additional 31,518 shares in the last quarter. Atlantic Trust Group LLC bought a new position in shares of Blackhawk Network during the 3rd quarter worth approximately $1,608,000. Parametric Portfolio Associates LLC boosted its holdings in shares of Blackhawk Network by 21.1% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 360,431 shares of the credit services provider’s stock worth $15,787,000 after buying an additional 62,822 shares in the last quarter. AXA boosted its holdings in shares of Blackhawk Network by 52.5% during the 3rd quarter. AXA now owns 151,300 shares of the credit services provider’s stock worth $6,627,000 after buying an additional 52,100 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Blackhawk Network by 48.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 36,373 shares of the credit services provider’s stock worth $1,593,000 after buying an additional 11,826 shares in the last quarter. Hedge funds and other institutional investors own 96.68% of the company’s stock.
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About Blackhawk Network
Blackhawk Network Holdings, Inc is a prepaid payment network. The Company operates through three segments: U.S. Retail, International, and Incentives & Rewards. The U.S. Retail segment is engaged in the sale of prepaid products to consumers at its retail distribution partners and online and the sale of telecom handsets to retail distribution partners for resale to consumers.
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