BlackRock (NYSE:BLK – Get Rating) will issue its quarterly earnings data before the market opens on Wednesday, April 13th. Analysts expect the company to announce earnings of $9.18 per share for the quarter. Parties that are interested in participating in the company’s conference call can do so using this link.
BlackRock (NYSE:BLK – Get Rating) last issued its earnings results on Friday, January 14th. The asset manager reported $10.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $10.16 by $0.26. The firm had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.15 billion. BlackRock had a return on equity of 16.54% and a net margin of 30.46%. The company’s revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the business posted $10.18 EPS. On average, analysts expect BlackRock to post $42 EPS for the current fiscal year and $47 EPS for the next fiscal year.
Shares of BLK stock opened at $764.43 on Wednesday. The stock’s fifty day moving average price is $754.23 and its two-hundred day moving average price is $846.72. The company has a market cap of $116.23 billion, a PE ratio of 20.01, a P/E/G ratio of 1.68 and a beta of 1.22. BlackRock has a fifty-two week low of $660.15 and a fifty-two week high of $973.16. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.02 and a current ratio of 3.02.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 23rd. Shareholders of record on Monday, March 7th were issued a $4.88 dividend. This represents a $19.52 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date was Friday, March 4th. This is an increase from BlackRock’s previous quarterly dividend of $4.13. BlackRock’s dividend payout ratio (DPR) is currently 51.09%.
In other news, Director Mark Mccombe sold 1,400 shares of BlackRock stock in a transaction dated Monday, February 7th. The stock was sold at an average price of $819.32, for a total value of $1,147,048.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.16% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. First Community Trust NA bought a new stake in BlackRock in the 4th quarter valued at about $66,000. Monolith Advisors bought a new stake in BlackRock in the 4th quarter valued at about $73,000. Crestwood Advisors Group LLC increased its position in BlackRock by 9.0% in the 4th quarter. Crestwood Advisors Group LLC now owns 399 shares of the asset manager’s stock valued at $365,000 after buying an additional 33 shares in the last quarter. Zullo Investment Group Inc. bought a new stake in BlackRock in the 4th quarter valued at about $379,000. Finally, Autumn Glory Partners LLC bought a new stake in BlackRock in the 4th quarter valued at about $473,000. 93.44% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently weighed in on BLK shares. Morgan Stanley cut their price objective on BlackRock from $1,051.00 to $1,043.00 and set an “overweight” rating on the stock in a report on Tuesday, January 18th. Bank of America started coverage on BlackRock in a report on Thursday, December 16th. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on BlackRock from $1,125.00 to $1,024.00 and set a “buy” rating on the stock in a report on Friday, February 18th. Zacks Investment Research raised BlackRock from a “sell” rating to a “hold” rating and set a $808.00 price objective on the stock in a report on Monday. Finally, The Goldman Sachs Group cut their price objective on BlackRock from $1,000.00 to $800.00 and set a “buy” rating on the stock in a report on Monday, March 14th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, BlackRock has an average rating of “Buy” and an average price target of $931.76.
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.