BlackRock, Inc. to Post Q3 2017 Earnings of $5.56 Per Share, Gabelli Forecasts (BLK)

BlackRock, Inc. (NYSE:BLK) – Gabelli raised their Q3 2017 earnings per share (EPS) estimates for BlackRock in a report issued on Tuesday. Gabelli analyst M. Sykes now expects that the asset manager will post earnings of $5.56 per share for the quarter, up from their previous estimate of $5.54. Gabelli also issued estimates for BlackRock’s Q4 2017 earnings at $6.01 EPS, FY2017 earnings at $22.04 EPS, FY2018 earnings at $26.09 EPS, FY2019 earnings at $29.70 EPS, FY2020 earnings at $33.95 EPS and FY2021 earnings at $38.95 EPS.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, beating analysts’ consensus estimates of $5.49 by $0.43. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.09%. BlackRock’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter last year, the business posted $5.14 earnings per share.

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Several other brokerages also recently commented on BLK. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $440.00 price objective on shares of BlackRock in a research note on Friday, July 14th. Goldman Sachs Group, Inc. (The) raised shares of BlackRock from a “neutral” rating to a “buy” rating and increased their price objective for the company from $440.00 to $500.00 in a research note on Thursday, September 28th. Wells Fargo & Company reissued a “market perform” rating and issued a $475.00 price objective (up previously from $450.00) on shares of BlackRock in a research note on Thursday. Bank of America Corporation reissued a “buy” rating and issued a $450.00 price objective on shares of BlackRock in a research note on Monday, June 19th. Finally, Barclays PLC started coverage on shares of BlackRock in a research note on Friday, September 8th. They issued an “overweight” rating and a $475.00 price objective for the company. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $478.50.

Shares of BlackRock (NYSE:BLK) opened at 480.59 on Wednesday. The firm has a market cap of $77.96 billion, a price-to-earnings ratio of 23.07 and a beta of 1.72. BlackRock has a one year low of $336.84 and a one year high of $485.23. The company has a 50 day moving average of $435.54 and a 200-day moving average of $414.91.

Several hedge funds have recently added to or reduced their stakes in the company. Financial Architects Inc raised its stake in shares of BlackRock by 0.7% during the second quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock valued at $123,000 after acquiring an additional 2 shares during the last quarter. Davis R M Inc. raised its stake in shares of BlackRock by 0.4% during the second quarter. Davis R M Inc. now owns 564 shares of the asset manager’s stock valued at $238,000 after acquiring an additional 2 shares during the last quarter. National Asset Management Inc. raised its stake in shares of BlackRock by 0.4% during the first quarter. National Asset Management Inc. now owns 716 shares of the asset manager’s stock valued at $275,000 after acquiring an additional 3 shares during the last quarter. Proficio Capital Partners LLC raised its stake in shares of BlackRock by 1.2% during the second quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock valued at $111,000 after acquiring an additional 3 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. raised its stake in shares of BlackRock by 0.4% during the second quarter. ZWJ Investment Counsel Inc. now owns 688 shares of the asset manager’s stock valued at $291,000 after acquiring an additional 3 shares during the last quarter. 82.47% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Robert W. Fairbairn sold 3,675 shares of the firm’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $415.31, for a total transaction of $1,526,264.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeff A. Smith sold 250 shares of the firm’s stock in a transaction 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. Insiders have sold 4,447 shares of company stock valued at $1,855,015 in the last ninety days. Insiders own 1.86% of the company’s stock.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 22nd. Stockholders of record on Tuesday, September 5th were paid a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Thursday, August 31st. BlackRock’s payout ratio is currently 46.82%.

About BlackRock

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.

Earnings History and Estimates for BlackRock (NYSE:BLK)

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