$5.54 EPS Expected for BlackRock, Inc. (BLK) This Quarter
Analysts expect that BlackRock, Inc. (NYSE:BLK) will report $5.54 earnings per share for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for BlackRock’s earnings. The highest EPS estimate is $5.71 and the lowest is $5.39. BlackRock posted earnings per share of $5.14 during the same quarter last year, which indicates a positive year over year growth rate of 7.8%. The company is scheduled to issue its next earnings results on Tuesday, October 17th.
According to Zacks, analysts expect that BlackRock will report full-year earnings of $21.96 per share for the current fiscal year, with EPS estimates ranging from $21.67 to $22.20. For the next financial year, analysts anticipate that the business will report earnings of $25.02 per share, with EPS estimates ranging from $24.20 to $26.74. Zacks’ EPS averages are an average based on a survey of sell-side analysts that that provide coverage for BlackRock.
BlackRock (NYSE:BLK) last released its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $5.39 by ($0.15). The firm had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.01 billion. BlackRock had a return on equity of 11.74% and a net margin of 29.92%. The business’s revenue was up 5.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.78 EPS.
Several research firms recently commented on BLK. Jefferies Group LLC reaffirmed a “hold” rating and issued a $440.00 price target on shares of BlackRock in a report on Tuesday. Deutsche Bank AG increased their price target on BlackRock from $447.00 to $449.00 and gave the company a “buy” rating in a report on Tuesday, July 4th. BidaskClub cut BlackRock from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $480.00 price target for the company in a report on Tuesday, June 20th. Finally, Credit Suisse Group reaffirmed an “outperform” rating and issued a $534.00 price target on shares of BlackRock in a report on Tuesday, July 18th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $449.08.
BlackRock (BLK) traded down 0.63% during trading on Tuesday, hitting $434.88. The stock had a trading volume of 113,177 shares. The company has a market cap of $70.54 billion, a PE ratio of 20.87 and a beta of 1.71. The company’s 50 day moving average is $422.45 and its 200-day moving average is $406.87. BlackRock has a 12 month low of $336.84 and a 12 month high of $442.84.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th were paid a dividend of $2.50 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $10.00 annualized dividend and a yield of 2.30%. BlackRock’s dividend payout ratio (DPR) is 47.98%.
In other news, insider Robert W. Fairbairn sold 3,675 shares of the firm’s stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total transaction of $1,526,264.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeff A. Smith sold 522 shares of the firm’s stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $421.52, for a total value of $220,033.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,447 shares of company stock valued at $1,855,015. 1.86% of the stock is owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in BLK. BlackRock Inc. boosted its position in shares of BlackRock by 2,775.4% during the first quarter. BlackRock Inc. now owns 6,541,505 shares of the asset manager’s stock worth $2,508,733,000 after buying an additional 6,314,004 shares during the period. Third Point LLC purchased a new position in shares of BlackRock during the second quarter worth $654,736,000. Harbour Capital Advisors LLC boosted its position in shares of BlackRock by 38,807.6% during the second quarter. Harbour Capital Advisors LLC now owns 1,203,024 shares of the asset manager’s stock worth $2,848,000 after buying an additional 1,199,932 shares during the period. Capital World Investors boosted its position in shares of BlackRock by 12.9% during the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after buying an additional 810,667 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of BlackRock by 8.4% during the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock worth $3,569,693,000 after buying an additional 656,569 shares during the period. Institutional investors and hedge funds own 82.47% of the company’s stock.
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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