Blackbaud, Inc. (BLKB) Expected to Announce Earnings of $0.60 Per Share
Equities research analysts forecast that Blackbaud, Inc. (NASDAQ:BLKB) will announce earnings of $0.60 per share for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Blackbaud’s earnings, with the highest EPS estimate coming in at $0.62 and the lowest estimate coming in at $0.57. Blackbaud posted earnings per share of $0.59 during the same quarter last year, which would indicate a positive year-over-year growth rate of 1.7%. The company is scheduled to issue its next earnings report on Wednesday, February 14th.
On average, analysts expect that Blackbaud will report full-year earnings of $2.15 per share for the current financial year, with EPS estimates ranging from $2.10 to $2.18. For the next financial year, analysts forecast that the company will post earnings of $2.40 per share, with EPS estimates ranging from $2.24 to $2.52. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that cover Blackbaud.
Blackbaud (NASDAQ:BLKB) last released its earnings results on Wednesday, October 25th. The technology company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.05. Blackbaud had a net margin of 6.82% and a return on equity of 31.25%. The company had revenue of $195.51 million for the quarter, compared to analysts’ expectations of $196.35 million. During the same quarter in the previous year, the company earned $0.45 EPS. Blackbaud’s revenue for the quarter was up 6.8% on a year-over-year basis.
A number of research firms recently weighed in on BLKB. B. Riley restated a “neutral” rating and set a $78.00 target price on shares of Blackbaud in a research note on Wednesday, August 2nd. Robert W. Baird lifted their price target on shares of Blackbaud from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of Blackbaud from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Citigroup Inc. set a $112.00 price target on shares of Blackbaud and gave the company a “buy” rating in a report on Friday, October 27th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $96.00 price target on shares of Blackbaud in a report on Friday, July 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $91.44.
Blackbaud (BLKB) traded up $0.46 on Friday, hitting $99.89. 157,800 shares of the company were exchanged, compared to its average volume of 316,292. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.63 and a current ratio of 0.63. Blackbaud has a 52 week low of $59.54 and a 52 week high of $103.41. The stock has a market cap of $4,781.55, a PE ratio of 59.19, a price-to-earnings-growth ratio of 4.03 and a beta of 0.86.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Tuesday, November 28th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 27th. This represents a $0.48 dividend on an annualized basis and a yield of 0.48%. Blackbaud’s dividend payout ratio is currently 44.04%.
In other news, SVP Jon W. Olson sold 5,282 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $84.24, for a total value of $444,955.68. Following the sale, the senior vice president now directly owns 50,756 shares in the company, valued at approximately $4,275,685.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Anthony W. Boor sold 1,989 shares of the business’s stock in a transaction dated Wednesday, November 8th. The stock was sold at an average price of $98.26, for a total transaction of $195,439.14. Following the completion of the sale, the chief financial officer now owns 105,342 shares in the company, valued at $10,350,904.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,803 shares of company stock worth $1,397,190. Insiders own 2.19% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. World Asset Management Inc increased its holdings in shares of Blackbaud by 0.8% in the 2nd quarter. World Asset Management Inc now owns 3,043 shares of the technology company’s stock worth $261,000 after buying an additional 24 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Blackbaud by 2.6% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,537 shares of the technology company’s stock worth $132,000 after buying an additional 39 shares during the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of Blackbaud by 1.3% in the 2nd quarter. Janney Montgomery Scott LLC now owns 4,234 shares of the technology company’s stock worth $363,000 after buying an additional 54 shares during the last quarter. 1st Global Advisors Inc. increased its holdings in shares of Blackbaud by 0.6% in the 2nd quarter. 1st Global Advisors Inc. now owns 9,588 shares of the technology company’s stock worth $822,000 after buying an additional 57 shares during the last quarter. Finally, Advisor Group Inc. increased its holdings in shares of Blackbaud by 2.1% in the 2nd quarter. Advisor Group Inc. now owns 3,108 shares of the technology company’s stock worth $265,000 after buying an additional 65 shares during the last quarter.
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Blackbaud Company Profile
Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).
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