BlackRock (BLK) Issues Quarterly Earnings Results

BlackRock (NYSE:BLK) issued its quarterly earnings results on Thursday. The asset manager reported $6.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $5.94 by $0.30, Bloomberg Earnings reports. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.33 billion. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the previous year, the business posted $5.14 EPS.

Shares of BlackRock (NYSE:BLK) opened at $537.92 on Friday. The firm has a market capitalization of $86,250.00, a price-to-earnings ratio of 25.18, a PEG ratio of 1.57 and a beta of 1.81. The company has a debt-to-equity ratio of 1.09, a quick ratio of 2.89 and a current ratio of 2.89. BlackRock has a 52-week low of $365.83 and a 52-week high of $540.00.

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Stockholders of record on Wednesday, March 7th will be given a dividend of $2.88 per share. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.14%. This is an increase from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s payout ratio is presently 46.82%.

In other BlackRock news, Director Susan Wagner sold 4,000 shares of the business’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $506.10, for a total value of $2,024,400.00. Following the completion of the transaction, the director now directly owns 481,915 shares of the company’s stock, valued at $243,897,181.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeff A. Smith sold 100 shares of the business’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $477.54, for a total value of $47,754.00. The disclosure for this sale can be found here. Corporate insiders own 1.86% of the company’s stock.

BLK has been the topic of several recent analyst reports. Goldman Sachs Group raised BlackRock from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $440.00 to $500.00 in a research report on Thursday, September 28th. Wells Fargo & Co reissued a “market perform” rating and set a $475.00 price objective (up previously from $450.00) on shares of BlackRock in a report on Thursday, October 12th. Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price objective on the stock in a report on Tuesday, October 3rd. Jefferies Group reissued a “hold” rating and set a $440.00 price objective on shares of BlackRock in a report on Tuesday, September 26th. Finally, Barclays lifted their price objective on BlackRock from $475.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, October 10th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $498.50.

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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.

Earnings History for BlackRock (NYSE:BLK)

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