BlackRock Inc. (BLK) to Release Earnings on Tuesday
BlackRock Inc. (NYSE:BLK) is scheduled to be releasing its Q316 earnings data on Tuesday, October 18th.
BlackRock (NYSE:BLK) last released its earnings results on Thursday, July 14th. The company reported $4.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.82 by $0.04. The business had revenue of $2.80 billion for the quarter, compared to analyst estimates of $2.81 billion. BlackRock had a return on equity of 11.07% and a net margin of 28.12%. BlackRock’s quarterly revenue was down 3.5% compared to the same quarter last year. During the same quarter last year, the company earned $4.96 earnings per share. On average, analysts expect BlackRock to post $19.23 EPS for the current fiscal year and $22.39 EPS for the next fiscal year.
Shares of BlackRock Inc. (NYSE:BLK) opened at 349.34 on Friday. BlackRock Inc. has a 12-month low of $280.55 and a 12-month high of $376.65. The firm has a market capitalization of $57.45 billion, a price-to-earnings ratio of 18.61 and a beta of 1.46. The firm’s 50-day moving average is $364.46 and its 200-day moving average is $356.98.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were given a $2.29 dividend. This represents a $9.16 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Wednesday, August 31st. BlackRock’s dividend payout ratio is presently 48.83%.
A number of equities analysts have recently weighed in on the stock. Deutsche Bank AG reissued a “buy” rating and issued a $392.00 price objective (up previously from $372.00) on shares of BlackRock in a research report on Sunday, July 10th. Barclays PLC reissued a “hold” rating on shares of BlackRock in a research report on Sunday, July 17th. Jefferies Group reissued a “hold” rating on shares of BlackRock in a research report on Friday, August 5th. Zacks Investment Research upgraded shares of BlackRock from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Finally, Keefe, Bruyette & Woods downgraded shares of BlackRock from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $390.00 to $383.00 in a report on Friday, July 15th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. BlackRock presently has an average rating of “Buy” and an average target price of $383.37.
In related news, Director Susan Wagner sold 79,346 shares of the company’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $366.35, for a total value of $29,068,407.10. Following the sale, the director now directly owns 587,365 shares of the company’s stock, valued at $215,181,167.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ryan Stork sold 1,400 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $367.24, for a total transaction of $514,136.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the stock. Lebenthal Asset Management LLC bought a new stake in BlackRock during the second quarter valued at about $910,000. Lebenthal Wealth Advisors LLC acquired a new stake in shares of BlackRock during the second quarter worth $248,000. Parsons Capital Management Inc. RI boosted its stake in shares of BlackRock by 0.8% in the second quarter. Parsons Capital Management Inc. RI now owns 15,479 shares of the company’s stock worth $5,302,000 after buying an additional 120 shares during the period. General Electric Co. acquired a new stake in shares of BlackRock during the second quarter worth $2,422,000. Finally, Sei Investments Co. boosted its stake in shares of BlackRock by 159.2% in the second quarter. Sei Investments Co. now owns 11,604 shares of the company’s stock worth $3,975,000 after buying an additional 7,127 shares during the period. 81.58% of the stock is currently owned by hedge funds and other institutional investors.
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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