Brokers Set Expectations for BlackRock, Inc.’s FY2017 Earnings (BLK)
BlackRock, Inc. (NYSE:BLK) – Analysts at Gabelli raised their FY2017 earnings estimates for BlackRock in a report released on Tuesday. Gabelli analyst M. Sykes now anticipates that the asset manager will earn $22.47 per share for the year, up from their prior forecast of $22.13. Gabelli also issued estimates for BlackRock’s FY2022 earnings at $50.25 EPS.
BLK has been the subject of several other research reports. Barclays upped their price target on shares of BlackRock from $475.00 to $500.00 and gave the company an “overweight” rating in a research report on Tuesday, October 10th. Wells Fargo & Co reiterated a “market perform” rating and issued a $475.00 price target (up previously from $450.00) on shares of BlackRock in a research report on Thursday, October 12th. JPMorgan Chase & Co. upped their price target on shares of BlackRock to $558.00 and gave the company an “overweight” rating in a research report on Thursday, October 12th. Goldman Sachs Group upgraded shares of BlackRock from a “neutral” rating to a “buy” rating and upped their price target for the company from $440.00 to $500.00 in a research report on Thursday, September 28th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $501.00 price target (up previously from $476.00) on shares of BlackRock in a research report on Thursday, October 5th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $489.08.
BlackRock (NYSE:BLK) last issued its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, topping the consensus estimate of $5.49 by $0.43. The business had revenue of $3.23 billion during the quarter, compared to the consensus estimate of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The company’s revenue was up 14.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.14 EPS.
Several large investors have recently bought and sold shares of BLK. Third Point LLC acquired a new stake in BlackRock in the 2nd quarter valued at about $654,736,000. Capital World Investors grew its stake in BlackRock by 12.9% in the 2nd quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock valued at $3,001,358,000 after acquiring an additional 810,667 shares during the last quarter. Vanguard Group Inc. grew its stake in BlackRock by 8.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock valued at $3,569,693,000 after acquiring an additional 656,569 shares during the last quarter. Principal Financial Group Inc. grew its stake in BlackRock by 207.1% in the 2nd quarter. Principal Financial Group Inc. now owns 527,380 shares of the asset manager’s stock valued at $222,771,000 after acquiring an additional 355,630 shares during the last quarter. Finally, BlackRock Inc. grew its stake in BlackRock by 3.2% in the 2nd quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock valued at $2,851,570,000 after acquiring an additional 209,209 shares during the last quarter. 83.54% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Mark Mccombe sold 1,000 shares of the company’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $478.99, for a total transaction of $478,990.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Susan Wagner sold 4,000 shares of the company’s stock in a transaction on Thursday, November 30th. The stock was sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the transaction, the director now directly owns 481,915 shares in the company, valued at $243,897,181.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,200 shares of company stock worth $2,599,302. Corporate insiders own 1.86% of the company’s stock.
The business also recently declared a quarterly dividend, which was paid on Thursday, December 21st. Stockholders of record on Monday, December 4th were paid a dividend of $2.50 per share. The ex-dividend date of this dividend was Friday, December 1st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 1.87%. BlackRock’s dividend payout ratio (DPR) is presently 46.82%.
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BlackRock Company Profile
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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