BlackRock, Inc. (NYSE:BLK) announced its earnings results on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $5.39 by $0.15, Bloomberg Earnings reports. BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The firm had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the prior year, the company earned $4.78 EPS. The business’s revenue for the quarter was up 5.7% on a year-over-year basis.
BlackRock (BLK) traded up 0.35% during mid-day trading on Friday, hitting $424.16. The stock had a trading volume of 807,059 shares. The stock has a market cap of $68.80 billion, a price-to-earnings ratio of 20.36 and a beta of 1.71. BlackRock has a 12-month low of $336.84 and a 12-month high of $442.84. The company has a 50-day moving average of $428.00 and a 200-day moving average of $399.35.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th will be given a dividend of $2.50 per share. The ex-dividend date is Thursday, August 31st. This represents a $10.00 dividend on an annualized basis and a yield of 2.36%. BlackRock’s payout ratio is 47.98%.
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Several research analysts recently commented on the stock. BidaskClub raised shares of BlackRock from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 1st. Deutsche Bank AG restated a “buy” rating and set a $441.00 target price (down previously from $449.00) on shares of BlackRock in a report on Saturday, April 22nd. Morgan Stanley restated an “overweight” rating and set a $460.00 target price (up previously from $422.00) on shares of BlackRock in a research note on Monday, July 10th. Keefe, Bruyette & Woods restated a “hold” rating and set a $440.00 target price on shares of BlackRock in a research note on Friday, July 14th. Finally, Zacks Investment Research downgraded BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $434.93.
In related news, insider Mark Mccombe sold 500 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $405.98, for a total value of $202,990.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jeff A. Smith sold 250 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $434.87, for a total transaction of $108,717.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,772 shares of company stock valued at $1,567,516. 1.86% of the stock is owned by corporate insiders.
BlackRock Company Profile
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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