BlackRock (BLK) Announces Quarterly Earnings Results, Beats Expectations By $0.30 EPS
BlackRock (NYSE:BLK) released its earnings results on Friday. The asset manager reported $6.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $5.94 by $0.30, Bloomberg Earnings reports. The firm had revenue of $3.47 billion for the quarter, compared to analysts’ expectations of $3.33 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. BlackRock’s quarterly revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the company earned $5.14 EPS.
Shares of BlackRock (BLK) traded up $17.61 on Friday, hitting $555.53. 940,509 shares of the stock traded hands, compared to its average volume of 484,680. The firm has a market cap of $89,070.00, a PE ratio of 18.33, a P/E/G ratio of 1.53 and a beta of 1.81. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89. BlackRock has a 12 month low of $365.83 and a 12 month high of $556.37.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be paid a $2.88 dividend. This represents a $11.52 annualized dividend and a dividend yield of 2.07%. This is a boost from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s payout ratio is currently 33.00%.
In other news, insider Jeff A. Smith sold 100 shares of BlackRock stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $477.54, for a total value of $47,754.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Susan Wagner sold 4,000 shares of BlackRock stock in a transaction that occurred on Thursday, November 30th. The stock was sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the completion of the transaction, the director now directly owns 481,915 shares in the company, valued at approximately $243,897,181.50. The disclosure for this sale can be found here. Insiders own 1.86% of the company’s stock.
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BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.
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