Zacks: Analysts Anticipate Blackline Inc (BL) Will Post Quarterly Sales of $61.66 Million
Analysts expect that Blackline Inc (NASDAQ:BL) will announce sales of $61.66 million for the current quarter, Zacks reports. Seven analysts have provided estimates for Blackline’s earnings, with estimates ranging from $61.46 million to $61.97 million. Blackline reported sales of $50.23 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 22.8%. The company is scheduled to report its next earnings report after the market closes on Thursday, February 14th.
According to Zacks, analysts expect that Blackline will report full-year sales of $227.14 million for the current fiscal year, with estimates ranging from $226.93 million to $227.44 million. For the next year, analysts anticipate that the firm will post sales of $279.16 million, with estimates ranging from $272.45 million to $286.61 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Blackline.
Blackline (NASDAQ:BL) last released its quarterly earnings data on Thursday, November 1st. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.15. The business had revenue of $58.70 million during the quarter, compared to analysts’ expectations of $57.64 million. Blackline had a negative return on equity of 3.58% and a negative net margin of 12.02%. The business’s quarterly revenue was up 29.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.01) EPS.
A number of large investors have recently made changes to their positions in BL. Rehmann Capital Advisory Group purchased a new position in shares of Blackline in the 3rd quarter worth $63,000. Evanson Asset Management LLC raised its position in Blackline by 19.5% in the fourth quarter. Evanson Asset Management LLC now owns 7,350 shares of the technology company’s stock valued at $301,000 after purchasing an additional 1,200 shares during the period. Metropolitan Life Insurance Co. NY raised its position in Blackline by 16.1% in the second quarter. Metropolitan Life Insurance Co. NY now owns 10,539 shares of the technology company’s stock valued at $458,000 after purchasing an additional 1,461 shares during the period. Great West Life Assurance Co. Can raised its position in Blackline by 129.4% in the second quarter. Great West Life Assurance Co. Can now owns 3,211 shares of the technology company’s stock valued at $139,000 after purchasing an additional 1,811 shares during the period. Finally, MetLife Investment Advisors LLC raised its position in Blackline by 15.6% in the second quarter. MetLife Investment Advisors LLC now owns 14,923 shares of the technology company’s stock valued at $648,000 after purchasing an additional 2,015 shares during the period. Hedge funds and other institutional investors own 81.56% of the company’s stock.
NASDAQ:BL opened at $45.10 on Friday. Blackline has a 1 year low of $31.53 and a 1 year high of $58.11.
Blackline Company Profile
BlackLine, Inc provides financial accounting close solutions delivered as a Software as a Service in the United States and internationally. Its solutions enables its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, and journal entry capabilities, as well as a range of data matching capabilities.
See Also: Earnings Per Share
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