BlackRock (NYSE:BLK) will be posting its quarterly earnings results before the market opens on Friday, July 19th. Analysts expect BlackRock to post earnings of $6.82 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.
BlackRock (NYSE:BLK) last posted its quarterly earnings results on Tuesday, April 16th. The asset manager reported $6.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $6.13 by $0.48. BlackRock had a net margin of 30.58% and a return on equity of 13.46%. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.30 billion. During the same quarter in the previous year, the company earned $6.48 earnings per share. The business’s revenue was down 6.6% compared to the same quarter last year. On average, analysts expect BlackRock to post $28 EPS for the current fiscal year and $30 EPS for the next fiscal year.
BLK opened at $480.07 on Friday. BlackRock has a fifty-two week low of $360.79 and a fifty-two week high of $513.00. The company has a debt-to-equity ratio of 0.83, a current ratio of 3.49 and a quick ratio of 3.49. The business’s fifty day simple moving average is $451.60. The firm has a market capitalization of $73.84 billion, a P/E ratio of 17.83, a P/E/G ratio of 1.72 and a beta of 1.52.
The firm also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Thursday, June 6th were paid a dividend of $3.30 per share. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $13.20 dividend on an annualized basis and a yield of 2.75%. BlackRock’s dividend payout ratio is currently 49.02%.
In related news, Chairman Laurence Fink sold 31,250 shares of BlackRock stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $481.79, for a total value of $15,055,937.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeff A. Smith sold 300 shares of BlackRock stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $468.22, for a total value of $140,466.00. The disclosure for this sale can be found here. Insiders sold 34,525 shares of company stock valued at $16,591,075 over the last ninety days. 1.42% of the stock is currently owned by company insiders.
A number of brokerages have issued reports on BLK. Morgan Stanley cut their price objective on Virtus Investment Partners from $121.00 to $118.00 and set an “equal weight” rating for the company in a report on Tuesday. Citigroup lifted their price objective on T. Rowe Price Group from $98.00 to $108.00 and gave the company a “neutral” rating in a report on Monday, April 15th. Deutsche Bank lifted their price objective on T. Rowe Price Group from $91.00 to $94.00 and gave the company a “hold” rating in a report on Friday, March 15th. Wells Fargo & Co reissued a “buy” rating on shares of Morgan Stanley in a report on Wednesday, April 17th. Finally, UBS Group lifted their price objective on T. Rowe Price Group from $109.00 to $111.00 and gave the company a “neutral” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $506.88.
BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.
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