FY2018 EPS Estimates for BlackRock, Inc. Lifted by Jefferies Group (BLK)

BlackRock, Inc. (NYSE:BLK) – Jefferies Group upped their FY2018 earnings estimates for shares of BlackRock in a research note issued on Wednesday. Jefferies Group analyst D. Fannon now anticipates that the asset manager will earn $28.18 per share for the year, up from their prior forecast of $25.15. Jefferies Group currently has a “Hold” rating and a $465.00 target price on the stock. Jefferies Group also issued estimates for BlackRock’s Q4 2018 earnings at $7.76 EPS and FY2019 earnings at $31.63 EPS.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Thursday, January 11th. The asset manager reported $6.24 EPS for the quarter, beating the Zacks’ consensus estimate of $5.94 by $0.30. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the prior year, the company posted $5.14 EPS. The company’s quarterly revenue was up 20.0% compared to the same quarter last year.

A number of other analysts have also recently issued reports on BLK. Goldman Sachs Group upgraded BlackRock from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $440.00 to $500.00 in a report on Thursday, September 28th. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $501.00 target price for the company in a report on Tuesday, October 3rd. Morgan Stanley reiterated an “overweight” rating and set a $501.00 target price (up previously from $476.00) on shares of BlackRock in a report on Thursday, October 5th. Barclays boosted their target price on BlackRock from $475.00 to $500.00 and gave the stock an “overweight” rating in a report on Tuesday, October 10th. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and set a $500.00 target price on shares of BlackRock in a report on Thursday, October 12th. Four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. BlackRock currently has a consensus rating of “Buy” and an average price target of $510.67.

BlackRock (NYSE:BLK) traded up $17.17 during midday trading on Friday, hitting $555.09. 753,651 shares of the stock were exchanged, compared to its average volume of 476,118. 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 one year low of $365.83 and a one year high of $556.37. The firm has a market cap of $88,820.00, a P/E ratio of 25.99, a P/E/G ratio of 1.57 and a beta of 1.81.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Aperio Group LLC boosted its holdings in BlackRock by 8.6% in the 3rd quarter. Aperio Group LLC now owns 68,737 shares of the asset manager’s stock worth $30,732,000 after acquiring an additional 5,451 shares during the period. Honkamp Krueger Financial Services Inc. purchased a new position in shares of BlackRock during the 3rd quarter valued at approximately $222,000. WFG Advisors LP boosted its stake in shares of BlackRock by 66.6% during the 2nd quarter. WFG Advisors LP now owns 1,096 shares of the asset manager’s stock valued at $463,000 after buying an additional 438 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of BlackRock by 9.7% during the 3rd quarter. New York State Common Retirement Fund now owns 357,800 shares of the asset manager’s stock valued at $159,969,000 after buying an additional 31,600 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in shares of BlackRock by 4.4% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 418,198 shares of the asset manager’s stock valued at $186,973,000 after buying an additional 17,491 shares during the last quarter. Hedge funds and other institutional investors own 83.54% of the company’s stock.

In other BlackRock news, Director Susan Wagner sold 4,000 shares of the company’s stock in a transaction that occurred on 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 owns 481,915 shares in the company, valued at approximately $243,897,181.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Jeff A. Smith sold 100 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was 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. 1.86% of the stock is owned by corporate insiders.

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 issued a dividend of $2.88 per share. This represents a $11.52 dividend on an annualized basis and a dividend yield of 2.08%. This is a boost from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s payout ratio is presently 46.82%.

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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 and Estimates for BlackRock (NYSE:BLK)

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