Q1 2024 Earnings Forecast for BlackRock, Inc. (NYSE:BLK) Issued By Zacks Research

BlackRock, Inc. (NYSE:BLK) – Investment analysts at Zacks Research boosted their Q1 2024 EPS estimates for BlackRock in a report issued on Wednesday, April 10th. Zacks Research analyst R. Department now anticipates that the asset manager will earn $9.02 per share for the quarter, up from their previous estimate of $9.00. The consensus estimate for BlackRock’s current full-year earnings is $40.72 per share. Zacks Research also issued estimates for BlackRock’s Q2 2024 earnings at $9.68 EPS, Q3 2024 earnings at $9.74 EPS, Q4 2024 earnings at $10.27 EPS, FY2024 earnings at $38.71 EPS, Q1 2025 earnings at $10.97 EPS, Q2 2025 earnings at $10.77 EPS, Q3 2025 earnings at $11.07 EPS, Q4 2025 earnings at $11.89 EPS, FY2025 earnings at $44.69 EPS, Q1 2026 earnings at $13.50 EPS and FY2026 earnings at $55.73 EPS.

BlackRock (NYSE:BLK) last released its quarterly earnings results on Friday, January 12th. The asset manager reported $9.66 earnings per share for the quarter, topping the consensus estimate of $8.84 by $0.82. The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a net margin of 30.81% and a return on equity of 14.74%. The business’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $8.93 earnings per share.

Several other research analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $930.00 price target (up previously from $918.00) on shares of BlackRock in a report on Friday, April 5th. UBS Group upped their target price on shares of BlackRock from $720.00 to $818.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. upped their target price on shares of BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. Finally, TD Cowen upgraded shares of BlackRock from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $819.00 to $938.00 in a research report on Tuesday, January 16th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $796.00.

BlackRock Trading Down 2.6 %

BlackRock stock opened at $783.08 on Thursday. The stock has a market cap of $116.63 billion, a P/E ratio of 21.45, a PEG ratio of 1.75 and a beta of 1.37. BlackRock has a fifty-two week low of $596.18 and a fifty-two week high of $845.00. The firm’s fifty day moving average price is $809.38 and its 200-day moving average price is $751.17. The company has a debt-to-equity ratio of 0.32, a quick ratio of 3.48 and a current ratio of 3.48.

Hedge Funds Weigh In On BlackRock

A number of institutional investors have recently bought and sold shares of BLK. Norges Bank bought a new position in BlackRock in the fourth quarter worth about $1,812,920,000. Capital World Investors raised its stake in BlackRock by 57.3% in the fourth quarter. Capital World Investors now owns 3,514,999 shares of the asset manager’s stock worth $2,853,517,000 after buying an additional 1,279,952 shares in the last quarter. Capital Research Global Investors raised its stake in BlackRock by 23.7% in the fourth quarter. Capital Research Global Investors now owns 3,918,878 shares of the asset manager’s stock worth $3,181,346,000 after buying an additional 749,654 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in BlackRock by 104,159.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 697,499 shares of the asset manager’s stock worth $494,269,000 after buying an additional 696,830 shares in the last quarter. Finally, International Assets Investment Management LLC raised its stake in BlackRock by 77,524.5% in the fourth quarter. International Assets Investment Management LLC now owns 641,955 shares of the asset manager’s stock worth $5,211,390,000 after buying an additional 641,128 shares in the last quarter. 80.69% of the stock is owned by institutional investors.

Insider Buying and Selling at BlackRock

In other news, Director Stephen Cohen sold 950 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $805.55, for a total transaction of $765,272.50. Following the completion of the sale, the director now directly owns 4,437 shares in the company, valued at $3,574,225.35. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, General Counsel Christopher J. Meade sold 18,000 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $282.54, for a total transaction of $5,085,660.60. Following the completion of the sale, the general counsel now directly owns 11,914 shares in the company, valued at $3,366,142.24. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephen Cohen sold 950 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $805.55, for a total transaction of $765,272.50. Following the sale, the director now owns 4,437 shares of the company’s stock, valued at $3,574,225.35. The disclosure for this sale can be found here. Insiders sold a total of 100,511 shares of company stock worth $71,864,028 over the last three months. Company insiders own 1.06% of the company’s stock.

About BlackRock

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.