Jefferies Group Weighs in on BlackRock, Inc.’s FY2018 Earnings (BLK)

BlackRock, Inc. (NYSE:BLK) – Stock analysts at Jefferies Group upped their FY2018 earnings per share estimates for BlackRock in a research note issued on Wednesday, according to Zacks Investment Research. Jefferies Group analyst D. Fannon now expects that the asset manager will post earnings of $28.18 per share for the year, up from their prior estimate of $25.15. Jefferies Group currently has a “Hold” rating and a $565.00 target price on the stock. Jefferies Group also issued estimates for BlackRock’s Q4 2018 earnings at $7.76 EPS and FY2019 earnings at $31.63 EPS.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, January 12th. The asset manager reported $6.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $5.94 by $0.30. BlackRock had a net margin of 39.79% and a return on equity of 12.54%. The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the prior year, the business posted $5.14 earnings per share. The company’s quarterly revenue was up 20.0% compared to the same quarter last year.

BLK has been the subject of several other research reports. Barclays increased their price target on shares of BlackRock from $475.00 to $500.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 10th. Wells Fargo & Co reaffirmed a “market perform” rating and set a $475.00 price objective (up from $450.00) on shares of BlackRock in a research note on Thursday, October 12th. JPMorgan Chase & Co. upped their price objective on shares of BlackRock to $558.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price objective on the stock in a research note on Thursday, January 11th. Finally, Citigroup upped their price objective on shares of BlackRock to $625.00 and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $547.92.

BlackRock (BLK) traded down $23.35 during trading hours on Friday, reaching $524.97. 1,130,000 shares of the company traded hands, compared to its average volume of 596,641. BlackRock has a 52-week low of $368.00 and a 52-week high of $594.52. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89. The firm has a market capitalization of $84,170.00, a price-to-earnings ratio of 17.33, a PEG ratio of 1.47 and a beta of 1.75.

The business 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 is a boost from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Tuesday, March 6th. BlackRock’s dividend payout ratio is 33.00%.

In other news, insider Jeff A. Smith sold 100 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $477.54, for a total transaction of $47,754.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Susan Wagner sold 4,000 shares of the stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the sale, 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. Insiders have sold 4,525 shares of company stock worth $2,312,687 over the last three months. 1.86% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Palladium Partners LLC lifted its holdings in BlackRock by 3.5% in the fourth quarter. Palladium Partners LLC now owns 16,464 shares of the asset manager’s stock valued at $8,458,000 after buying an additional 558 shares during the period. Bank of The Ozarks acquired a new position in BlackRock in the fourth quarter valued at approximately $214,000. Stephens Inc. AR lifted its holdings in BlackRock by 6.8% in the fourth quarter. Stephens Inc. AR now owns 4,674 shares of the asset manager’s stock valued at $2,401,000 after buying an additional 296 shares during the period. Alps Advisors Inc. acquired a new position in BlackRock in the fourth quarter valued at approximately $389,000. Finally, Calton & Associates Inc. acquired a new position in BlackRock in the fourth quarter valued at approximately $303,000. 83.27% of the stock is currently owned by institutional investors and hedge funds.

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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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