BlackRock (NYSE:BLK) Posts Earnings Results, Beats Expectations By $0.27 EPS

BlackRock (NYSE:BLK) released its earnings results on Friday. The asset manager reported $10.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $10.15 by $0.27, RTT News reports. BlackRock had a net margin of 30.97% and a return on equity of 16.72%. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.15 billion. During the same period in the prior year, the firm earned $10.18 earnings per share. The business’s quarterly revenue was up 14.0% compared to the same quarter last year.

BlackRock stock opened at $867.58 on Friday. BlackRock has a one year low of $670.28 and a one year high of $973.16. The company has a debt-to-equity ratio of 0.56, a quick ratio of 3.04 and a current ratio of 3.04. The business has a fifty day moving average of $918.68 and a two-hundred day moving average of $903.33. The company has a market cap of $131.80 billion, a P/E ratio of 23.07, a price-to-earnings-growth ratio of 1.89 and a beta of 1.17.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 23rd. Shareholders of record on Tuesday, December 7th were issued a $4.13 dividend. This represents a $16.52 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Monday, December 6th. BlackRock’s dividend payout ratio (DPR) is currently 43.94%.

BLK has been the topic of a number of recent research reports. Evercore ISI restated a “buy” rating and set a $956.00 target price on shares of BlackRock in a research note on Thursday, October 14th. Bank of America began coverage on shares of BlackRock in a research note on Thursday, December 16th. They set a “buy” rating on the stock. Citigroup increased their price target on shares of BlackRock from $1,030.00 to $1,035.00 and gave the company a “buy” rating in a research note on Thursday, October 14th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of BlackRock from $1,141.00 to $1,123.00 in a research note on Thursday. Finally, BMO Capital Markets dropped their price target on shares of BlackRock from $797.00 to $794.00 and set a “market perform” rating on the stock in a research note on Thursday, October 14th. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, BlackRock presently has a consensus rating of “Buy” and an average target price of $987.71.

In other BlackRock news, Director J. Richard Kushel sold 405 shares of the firm’s stock in a transaction on Monday, November 8th. The stock was sold at an average price of $964.45, for a total value of $390,602.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Laurence Fink sold 16,365 shares of the firm’s stock in a transaction on Thursday, December 2nd. The shares were sold at an average price of $920.92, for a total value of $15,070,855.80. The disclosure for this sale can be found here. In the last three months, insiders sold 39,017 shares of company stock valued at $36,055,061. 1.16% of the stock is owned by corporate insiders.

An institutional investor recently raised its position in BlackRock stock. Morgan Stanley grew its position in 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 & Exchange Commission. The institutional investor owned 2,323,967 shares of the asset manager’s stock after buying an additional 23,377 shares during the quarter. Morgan Stanley owned 1.53% of BlackRock worth $2,033,403,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 77.94% of the company’s stock.

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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