Credit Agricole SA Comments on BlackRock Inc.’s FY2017 Earnings (BLK)
BlackRock Inc. (NYSE:BLK) – Investment analysts at Credit Agricole SA lifted their FY2017 earnings per share estimates for shares of BlackRock in a research report issued on Wednesday. Credit Agricole SA analyst R. Rutschow now expects that the firm will earn $21.35 per share for the year, up from their previous estimate of $21.10.
BlackRock (NYSE:BLK) last released its quarterly earnings results on Tuesday, October 18th. The company reported $5.14 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.16. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm earned $5.00 earnings per share. The firm’s revenue was down 2.5% on a year-over-year basis.
Several other research analysts also recently commented on BLK. Barclays PLC reaffirmed a “hold” rating on shares of BlackRock in a research note on Sunday, July 17th. Deutsche Bank AG reissued a “buy” rating and set a $392.00 price objective (up from $372.00) on shares of BlackRock in a research report on Sunday, July 10th. Jefferies Group reduced their price objective on shares of BlackRock from $359.00 to $357.00 and set a “hold” rating on the stock in a research report on Monday, July 11th. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “buy” rating and set a $410.00 price objective on the stock in a research report on Monday, September 19th. Finally, Wells Fargo & Co. reissued a “hold” rating on shares of BlackRock in a research report on Monday, July 11th. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. BlackRock has an average rating of “Buy” and an average price target of $385.26.
BlackRock (NYSE:BLK) traded down 0.88% on Monday, hitting $353.44. 629,207 shares of the company were exchanged. BlackRock has a 52 week low of $280.55 and a 52 week high of $376.65. The stock has a market capitalization of $58.13 billion, a P/E ratio of 18.83 and a beta of 1.46. The company has a 50 day moving average price of $363.11 and a 200-day moving average price of $357.55.
A number of institutional investors have recently bought and sold shares of the stock. Cohen & Steers Inc. boosted its position in BlackRock by 5,080.7% in the second quarter. Cohen & Steers Inc. now owns 1,484,377 shares of the company’s stock valued at $38,371,000 after buying an additional 1,455,725 shares in the last quarter. Emerald Acquisition Ltd. acquired a new stake in BlackRock during the second quarter valued at approximately $87,641,000. JPMorgan Chase & Co. raised its stake in BlackRock by 7.0% in the second quarter. JPMorgan Chase & Co. now owns 3,372,334 shares of the company’s stock valued at $1,155,126,000 after buying an additional 219,654 shares during the last quarter. Alleghany Corp DE raised its stake in BlackRock by 77.8% in the second quarter. Alleghany Corp DE now owns 400,000 shares of the company’s stock valued at $136,984,000 after buying an additional 175,000 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in BlackRock by 2.1% in the second quarter. Vanguard Group Inc. now owns 7,326,122 shares of the company’s stock valued at $2,509,417,000 after buying an additional 150,093 shares during the last quarter. Institutional investors and hedge funds own 81.57% of the company’s stock.
In other BlackRock news, Director Mark Mccombe sold 1,400 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $374.92, for a total transaction of $524,888.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Susan Wagner sold 79,346 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $366.35, for a total transaction of $29,068,407.10. Following the transaction, the director now owns 587,365 shares in the company, valued at approximately $215,181,167.75. The disclosure for this sale can be found here. Company insiders own 2.20% of the company’s stock.
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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