Wall Street analysts forecast that BlackRock (NYSE:BLK) will report earnings per share of $6.44 for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for BlackRock’s earnings, with the highest EPS estimate coming in at $6.45 and the lowest estimate coming in at $6.41. BlackRock posted earnings per share of $5.25 in the same quarter last year, which would indicate a positive year over year growth rate of 22.7%. The firm is expected to report its next earnings results before the market opens on Thursday, April 12th.
On average, analysts expect that BlackRock will report full year earnings of $28.32 per share for the current fiscal year, with EPS estimates ranging from $27.80 to $28.96. For the next fiscal year, analysts anticipate that the company will post earnings of $31.17 per share, with EPS estimates ranging from $30.20 to $32.26. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for BlackRock.
BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, January 12th. The asset manager reported $6.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $5.94 by $0.30. The firm had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.31%. The business’s quarterly revenue was up 20.0% on a year-over-year basis. During the same period in the previous year, the business posted $5.14 EPS.
A number of brokerages have recently weighed in on BLK. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price objective for the company in a report on Thursday, January 11th. JPMorgan Chase restated an “overweight” rating and issued a $640.00 price objective on shares of BlackRock in a report on Wednesday, March 14th. Jefferies Group upped their price target on shares of BlackRock to $565.00 and gave the company a “hold” rating in a report on Monday, January 15th. Citigroup upped their price target on shares of BlackRock to $625.00 and gave the company a “buy” rating in a report on Tuesday, January 16th. Finally, Credit Suisse Group upped their price target on shares of BlackRock from $672.00 to $678.00 and gave the company an “outperform” rating in a report on Thursday. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. BlackRock has an average rating of “Buy” and a consensus price target of $566.31.
In other BlackRock news, COO Robert L. Goldstein sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $558.00, for a total value of $2,790,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Mark Mccombe sold 2,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $520.64, for a total transaction of $1,041,280.00. The disclosure for this sale can be found here. Insiders sold a total of 20,961 shares of company stock valued at $11,375,444 over the last 90 days. Company insiders own 1.86% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of BLK. Chemical Bank grew its position in BlackRock by 23.1% during the 4th quarter. Chemical Bank now owns 4,636 shares of the asset manager’s stock valued at $2,382,000 after purchasing an additional 869 shares during the last quarter. Rehmann Capital Advisory Group grew its position in BlackRock by 5.1% during the 4th quarter. Rehmann Capital Advisory Group now owns 2,191 shares of the asset manager’s stock valued at $1,126,000 after purchasing an additional 107 shares during the last quarter. KCM Investment Advisors LLC grew its position in BlackRock by 45.1% during the 4th quarter. KCM Investment Advisors LLC now owns 962 shares of the asset manager’s stock valued at $494,000 after purchasing an additional 299 shares during the last quarter. Colonial Trust Advisors grew its position in BlackRock by 47.5% during the 4th quarter. Colonial Trust Advisors now owns 1,894 shares of the asset manager’s stock valued at $973,000 after purchasing an additional 610 shares during the last quarter. Finally, Xact Kapitalforvaltning AB grew its position in BlackRock by 8.9% during the 4th quarter. Xact Kapitalforvaltning AB now owns 27,134 shares of the asset manager’s stock valued at $13,939,000 after purchasing an additional 2,212 shares during the last quarter. Institutional investors and hedge funds own 84.77% of the company’s stock.
Shares of BLK traded down $18.48 during mid-day trading on Friday, reaching $519.92. The company’s stock had a trading volume of 518,536 shares, compared to its average volume of 504,710. The firm has a market cap of $83,560.50, a price-to-earnings ratio of 23.01, a PEG ratio of 1.50 and a beta of 1.67. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.94 and a current ratio of 2.94. BlackRock has a 52 week low of $375.52 and a 52 week high of $594.52.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 22nd. Shareholders of record on Wednesday, March 7th were issued a $2.88 dividend. The ex-dividend date was Tuesday, March 6th. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. This represents a $11.52 annualized dividend and a yield of 2.22%. BlackRock’s dividend payout ratio is 50.97%.
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BlackRock Company Profile
BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.
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