BlackRock (BLK) Announces Earnings Results

BlackRock (NYSE:BLK) released its earnings results on Thursday. The asset manager reported $6.24 earnings per share for the quarter, topping analysts’ consensus estimates of $5.94 by $0.30, Bloomberg Earnings reports. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The business had revenue of $3.47 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter last year, the firm posted $5.14 earnings per share. The business’s revenue was up 20.0% compared to the same quarter last year.

BlackRock (NYSE:BLK) opened at $555.53 on Friday. The company has a market capitalization of $89,070.00, a price-to-earnings ratio of 26.01, a PEG ratio of 1.48 and a beta of 1.81. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89. BlackRock has a 52 week low of $365.83 and a 52 week high of $556.37.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be paid a dividend of $2.88 per share. This represents a $11.52 annualized dividend and a dividend yield of 2.07%. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio (DPR) is currently 46.82%.

In other news, Director Susan Wagner sold 4,000 shares of the firm’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 owns 481,915 shares in the company, valued at $243,897,181.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeff A. Smith sold 100 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $477.54, for a total value of $47,754.00. The disclosure for this sale can be found here. Company insiders own 1.86% of the company’s stock.

A number of analysts have weighed in on BLK shares. Barclays increased their target price on BlackRock from $475.00 to $500.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 10th. Wells Fargo & Co reiterated a “market perform” rating and issued a $475.00 target price (up previously from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. JPMorgan Chase & Co. increased their target price on BlackRock to $558.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. Goldman Sachs Group upgraded BlackRock from a “neutral” rating to a “buy” rating and increased their target price for the stock from $440.00 to $500.00 in a research note on Thursday, September 28th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $501.00 target price (up previously from $476.00) on shares of BlackRock in a research note on Thursday, October 5th. Four equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. BlackRock has a consensus rating of “Buy” and a consensus price target of $510.67.

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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.

Earnings History for BlackRock (NYSE:BLK)

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