FY2018 EPS Estimates for BlackRock, Inc. (BLK) Increased by CLSA
BlackRock, Inc. (NYSE:BLK) – Equities research analysts at CLSA boosted their FY2018 earnings per share (EPS) estimates for shares of BlackRock in a research report issued on Monday. CLSA analyst R. Rutschow now forecasts that the brokerage will post earnings per share of $24.30 for the year, up from their prior estimate of $23.85. CLSA also issued estimates for BlackRock’s FY2019 earnings at $27.70 EPS.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Friday, January 13th. The company reported $5.14 EPS for the quarter, topping the consensus estimate of $5.02 by $0.12. The firm earned $2.89 billion during the quarter, compared to analyst estimates of $2.96 billion. BlackRock had a return on equity of 11.04% and a net margin of 28.59%. BlackRock’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $4.75 EPS. TRADEMARK VIOLATION WARNING: This piece was reported by Watch List News and is the propert of of Watch List News. If you are reading this piece on another publication, it was illegally stolen and reposted in violation of US & international trademark and copyright legislation. The original version of this piece can be viewed at http://www.watchlistnews.com/fy2018-eps-estimates-for-blackrock-inc-blk-increased-by-clsa/1060621.html.
BLK has been the subject of several other reports. Argus restated a “buy” rating and issued a $400.00 target price on shares of BlackRock in a research note on Friday, October 21st. Wells Fargo & Company restated a “market perform” rating on shares of BlackRock in a research note on Friday, October 21st. Jefferies Group restated a “hold” rating and issued a $383.00 target price on shares of BlackRock in a research note on Wednesday. Morgan Stanley restated a “market perform” rating on shares of BlackRock in a research note on Saturday, December 17th. Finally, Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “buy” rating and set a $410.00 target price for the company in a research note on Monday, September 19th. Nine equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $387.21.
BlackRock (NYSE:BLK) traded up 0.28% during midday trading on Wednesday, hitting $379.35. The stock had a trading volume of 620,408 shares. The firm has a market capitalization of $62.16 billion, a P/E ratio of 19.93 and a beta of 1.69. The firm has a 50-day moving average of $383.00 and a 200 day moving average of $365.28. BlackRock has a 52-week low of $280.55 and a 52-week high of $399.46.
A number of hedge funds and other institutional investors have recently bought and sold shares of BLK. NN Investment Partners Holdings N.V. increased its position in BlackRock by 74.7% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 1,408 shares of the company’s stock worth $536,000 after buying an additional 602 shares in the last quarter. Lederer & Associates Investment Counsel CA acquired a new position in BlackRock during the fourth quarter worth about $1,946,000. Cutler Investment Counsel LLC increased its position in BlackRock by 0.9% in the third quarter. Cutler Investment Counsel LLC now owns 18,867 shares of the company’s stock worth $6,839,000 after buying an additional 173 shares in the last quarter. D.A. Davidson & CO. increased its position in BlackRock by 1,678.7% in the third quarter. D.A. Davidson & CO. now owns 6,599 shares of the company’s stock worth $2,391,000 after buying an additional 6,228 shares in the last quarter. Finally, Bainco International Investors increased its position in BlackRock by 1.4% in the third quarter. Bainco International Investors now owns 10,912 shares of the company’s stock worth $3,955,000 after buying an additional 150 shares in the last quarter. Institutional investors own 80.55% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece was reported by Watch List News and is the propert of of Watch List News. If you are reading this piece on another publication, it was illegally stolen and reposted in violation of US & international trademark and copyright legislation. The original version of this piece can be viewed at http://www.watchlistnews.com/fy2018-eps-estimates-for-blackrock-inc-blk-increased-by-clsa/1060621.html.
In other BlackRock news, Director William S. Demchak bought 1,200 shares of the firm’s stock in a transaction that occurred on Thursday, October 27th. The stock was bought at an average cost of $341.11 per share, for a total transaction of $409,332.00. Following the completion of the transaction, the director now directly owns 1,200 shares of the company’s stock, valued at approximately $409,332. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeff A. Smith sold 125 shares of the business’s stock in a transaction on Wednesday, October 19th. The shares were sold at an average price of $355.22, for a total transaction of $44,402.50. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 23rd. Investors of record on Monday, March 6th will be given a dividend of $2.50 per share. This is an increase from BlackRock’s previous quarterly dividend of $2.29. This represents a $10.00 dividend on an annualized basis and a yield of 2.64%. BlackRock’s payout ratio is currently 48.16%.
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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