BlackRock Inc. (BLK) Forecasted to Earn Q3 2016 Earnings of $5.10 Per Share
BlackRock Inc. (NYSE:BLK) – Analysts at Jefferies Group raised their Q3 2016 earnings per share estimates for shares of BlackRock in a report issued on Tuesday. Jefferies Group analyst D. Fannon now expects that the brokerage will post earnings of $5.10 per share for the quarter, up from their prior forecast of $5.06. Jefferies Group has a “Hold” rating and a $367.00 price objective on the stock. Jefferies Group also issued estimates for BlackRock’s Q4 2016 earnings at $5.50 EPS, FY2016 earnings at $19.62 EPS and FY2017 earnings at $23.65 EPS.
BLK has been the subject of a number of other reports. Barclays PLC reaffirmed an “equal weight” rating and issued a $363.00 price objective on shares of BlackRock in a research note on Wednesday, June 15th. Deutsche Bank AG lifted their price objective on BlackRock from $392.00 to $400.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of BlackRock in a research note on Monday, July 11th. Finally, Vetr raised BlackRock from a “hold” rating to a “buy” rating and set a $382.97 price objective for the company in a research note on Wednesday, August 10th. Seven investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $383.19.
Shares of BlackRock (NYSE:BLK) traded up 0.09% on Wednesday, reaching $352.18. The company had a trading volume of 199,155 shares. The company has a 50 day moving average of $365.63 and a 200-day moving average of $357.08. The company has a market capitalization of $57.92 billion, a P/E ratio of 18.76 and a beta of 1.46. BlackRock has a 52 week low of $280.55 and a 52 week high of $376.65.
BlackRock (NYSE:BLK) last announced its earnings results on Thursday, July 14th. The company reported $4.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $4.82 by $0.04. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same period in the prior year, the company earned $4.96 earnings per share. The company’s quarterly revenue was down 3.5% on a year-over-year basis.
The company also recently announced a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were issued a $2.29 dividend. This represents a $9.16 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend was Wednesday, August 31st. BlackRock’s payout ratio is currently 48.83%.
In other news, insider Ryan Stork sold 1,400 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $367.24, for a total value of $514,136.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Grosfeld sold 25,379 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $374.22, for a total value of $9,497,329.38. Following the completion of the sale, the director now directly owns 514,402 shares of the company’s stock, valued at $192,499,516.44. The disclosure for this sale can be found here. 2.20% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Ropes Wealth Advisors LLC boosted its position in shares of BlackRock by 0.3% in the second quarter. Ropes Wealth Advisors LLC now owns 388 shares of the company’s stock valued at $133,000 after buying an additional 1 shares during the period. HBK Sorce Advisory LLC boosted its position in shares of BlackRock by 0.8% in the second quarter. HBK Sorce Advisory LLC now owns 608 shares of the company’s stock valued at $208,000 after buying an additional 5 shares during the period. Burke & Herbert Bank & Trust Co. boosted its position in shares of BlackRock by 0.5% in the second quarter. Burke & Herbert Bank & Trust Co. now owns 1,249 shares of the company’s stock valued at $428,000 after buying an additional 6 shares during the period. Private Bank & Trust Co. boosted its position in shares of BlackRock by 0.6% in the second quarter. Private Bank & Trust Co. now owns 1,331 shares of the company’s stock valued at $456,000 after buying an additional 8 shares during the period. Finally, Dorsey & Whitney Trust CO LLC boosted its position in shares of BlackRock by 0.7% in the second quarter. Dorsey & Whitney Trust CO LLC now owns 1,655 shares of the company’s stock valued at $567,000 after buying an additional 12 shares during the period. 81.58% of the stock is owned by institutional investors and hedge funds.
BlackRock Company Profile
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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