Analysts Anticipate BlackRock (BLK) Will Post Earnings of $6.44 Per Share

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.

How to Become a New Pot Stock Millionaire

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%.

COPYRIGHT VIOLATION WARNING: “Analysts Anticipate BlackRock (BLK) Will Post Earnings of $6.44 Per Share” was first posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this report on another publication, it was illegally stolen and reposted in violation of international copyright legislation. The correct version of this report can be viewed at https://www.dispatchtribunal.com/2018/04/08/analysts-anticipate-blackrock-blk-will-post-earnings-of-6-44-per-share.html.

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.

Get a free copy of the Zacks research report on BlackRock (BLK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for BlackRock (NYSE:BLK)

Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply