BlackRock (NYSE:BLK) Announces Earnings Results, Beats Expectations By $1.14 EPS

BlackRock (NYSE:BLK) issued its earnings results on Wednesday. The asset manager reported $10.95 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $9.81 by $1.14, RTT News reports. BlackRock had a return on equity of 16.30% and a net margin of 30.39%. The firm had revenue of $5.05 billion for the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the company posted $9.22 earnings per share. The business’s revenue was up 15.6% on a year-over-year basis.

NYSE:BLK opened at $836.19 on Wednesday. The business’s fifty day moving average is $895.29 and its 200 day moving average is $866.23. BlackRock has a 52-week low of $587.90 and a 52-week high of $959.89. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market cap of $127.26 billion, a price-to-earnings ratio of 23.50, a PEG ratio of 2.40 and a beta of 1.15.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 22nd. Investors of record on Tuesday, September 7th were issued a dividend of $4.13 per share. The ex-dividend date was Friday, September 3rd. This represents a $16.52 dividend on an annualized basis and a yield of 1.98%. BlackRock’s dividend payout ratio (DPR) is currently 48.85%.

A number of equities analysts have recently issued reports on BLK shares. BMO Capital Markets upped their price objective on BlackRock from $773.00 to $803.00 and gave the stock a “market perform” rating in a report on Thursday, July 15th. UBS Group upped their price target on BlackRock from $890.00 to $984.00 and gave the stock a “buy” rating in a research note on Thursday, July 8th. Citigroup raised their price target on BlackRock from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Monday, July 12th. Deutsche Bank Aktiengesellschaft decreased their target price on BlackRock from $1,018.00 to $1,001.00 and set a “buy” rating on the stock in a report on Thursday, July 15th. Finally, Evercore ISI reaffirmed a “buy” rating and issued a $956.00 target price on shares of BlackRock in a report on Friday, October 8th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, BlackRock currently has a consensus rating of “Buy” and an average price target of $953.50.

In other news, General Counsel Christopher J. Meade sold 2,106 shares of BlackRock stock in a transaction that occurred on Tuesday, July 20th. The shares were sold at an average price of $877.24, for a total transaction of $1,847,467.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark Wiedman sold 175 shares of the company’s stock in a transaction on Thursday, July 15th. The stock was sold at an average price of $884.50, for a total value of $154,787.50. The disclosure for this sale can be found here. Insiders own 1.16% of the company’s stock.

A hedge fund recently raised its stake in BlackRock stock. Morgan Stanley boosted its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,323,967 shares of the asset manager’s stock after acquiring an additional 23,377 shares during the period. Morgan Stanley owned about 1.53% of BlackRock worth $2,033,403,000 at the end of the most recent reporting period. 78.13% of the stock is currently owned by institutional investors and hedge funds.

BlackRock Company Profile

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

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Earnings History for BlackRock (NYSE:BLK)

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