BlackRock, Inc. (BLK) Expected to Post Quarterly Sales of $3.27 Billion

Wall Street analysts expect BlackRock, Inc. (NYSE:BLK) to announce sales of $3.27 billion for the current quarter, according to Zacks. Three analysts have made estimates for BlackRock’s earnings. The highest sales estimate is $3.33 billion and the lowest is $3.23 billion. BlackRock reported sales of $2.82 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 16%. The business is expected to announce its next quarterly earnings report on Wednesday, April 18th.

On average, analysts expect that BlackRock will report full-year sales of $3.27 billion for the current fiscal year, with estimates ranging from $13.69 billion to $14.15 billion. For the next fiscal year, analysts forecast that the company will report sales of $15.10 billion per share, with estimates ranging from $14.57 billion to $15.55 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for BlackRock.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, January 12th. The asset manager reported $6.24 earnings per share for the quarter, beating the consensus estimate of $5.94 by $0.30. The firm had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The company’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same quarter last year, the company posted $5.14 EPS.

Several research firms have weighed in on BLK. Citigroup cut shares of BlackRock from a “buy” rating to a “neutral” rating and set a $625.00 price objective for the company. in a research report on Thursday, January 25th. Wells Fargo & Co restated a “market perform” rating and issued a $475.00 price objective (up previously from $450.00) on shares of BlackRock in a research report on Thursday, October 12th. Jefferies Group reaffirmed a “hold” rating and issued a $465.00 target price on shares of BlackRock in a research note on Thursday, October 12th. Argus reaffirmed a “buy” rating and issued a $620.00 target price (up previously from $520.00) on shares of BlackRock in a research note on Tuesday, January 16th. Finally, Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 target price on the stock in a research note on Thursday, January 11th. Five equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $547.92.

In other news, Director Deryck C. Maughan acquired 3,861 shares of BlackRock stock in a transaction that occurred on Wednesday, January 17th. The shares were acquired at an average price of $573.44 per share, with a total value of $2,214,051.84. Following the purchase, the director now directly owns 12,265 shares of the company’s stock, valued at $7,033,241.60. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeff A. Smith sold 100 shares of BlackRock stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $477.54, for a total transaction of $47,754.00. The disclosure for this sale can be found here. Insiders sold a total of 4,525 shares of company stock worth $2,312,687 in the last ninety days. Insiders own 1.86% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in BLK. Third Point LLC bought a new position in BlackRock during the 2nd quarter worth approximately $654,736,000. Capital World Investors boosted its stake in BlackRock by 12.9% during the 2nd quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after acquiring an additional 810,667 shares during the last quarter. Stifel Financial Corp boosted its stake in BlackRock by 2,450.2% during the 3rd quarter. Stifel Financial Corp now owns 181,678 shares of the asset manager’s stock worth $81,105,000 after acquiring an additional 174,554 shares during the last quarter. PGGM Investments bought a new position in BlackRock during the 3rd quarter worth approximately $54,175,000. Finally, Janus Henderson Group PLC boosted its stake in BlackRock by 566.3% during the 2nd quarter. Janus Henderson Group PLC now owns 108,251 shares of the asset manager’s stock worth $45,730,000 after acquiring an additional 92,004 shares during the last quarter. 83.27% of the stock is currently owned by institutional investors and hedge funds.

Shares of BlackRock (NYSE:BLK) opened at $561.80 on Thursday. 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 firm has a market cap of $90,070.00, a PE ratio of 18.54, a price-to-earnings-growth ratio of 1.54 and a beta of 1.81. BlackRock has a 1 year low of $365.83 and a 1 year high of $594.52.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be paid a $2.88 dividend. This represents a $11.52 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Tuesday, March 6th. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio (DPR) is 33.00%.

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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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Earnings History and Estimates for BlackRock (NYSE:BLK)

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