Gabelli Equities Analysts Increase Earnings Estimates for BlackRock, Inc. (BLK)

BlackRock, Inc. (NYSE:BLK) – Equities research analysts at Gabelli boosted their Q4 2017 EPS estimates for shares of BlackRock in a research note issued to investors on Tuesday. Gabelli analyst M. Sykes now forecasts that the asset manager will earn $6.08 per share for the quarter, up from their prior estimate of $5.74. Gabelli also issued estimates for BlackRock’s FY2018 earnings at $28.90 EPS, FY2019 earnings at $32.95 EPS, FY2020 earnings at $37.80 EPS and FY2021 earnings at $43.55 EPS.

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

Several other analysts also recently weighed in on the company. Credit Suisse Group reiterated a “buy” rating and issued a $680.00 price objective on shares of BlackRock in a research report on Friday. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 target price for the company in a report on Thursday. Wells Fargo & Co restated a “market perform” rating and set a $475.00 target price (up previously from $450.00) on shares of BlackRock in a report on Thursday, October 12th. JPMorgan Chase & Co. upped their target price on BlackRock to $558.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Finally, Jefferies Group restated a “hold” rating and set a $465.00 target price on shares of BlackRock in a report on Thursday, October 12th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. BlackRock has a consensus rating of “Buy” and a consensus target price of $510.67.

Shares of BlackRock (NYSE:BLK) opened at $555.53 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89. BlackRock has a 12-month low of $365.83 and a 12-month high of $556.37. The firm has a market capitalization of $89,070.00, a P/E ratio of 26.01, a price-to-earnings-growth ratio of 1.48 and a beta of 1.81.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in BlackRock by 8.4% in the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock worth $3,569,693,000 after purchasing an additional 656,569 shares in the last quarter. Capital World Investors raised its holdings in BlackRock by 12.9% in the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock worth $3,001,358,000 after purchasing an additional 810,667 shares in the last quarter. BlackRock Inc. raised its holdings in BlackRock by 3.2% in the second quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock worth $2,851,570,000 after purchasing an additional 209,209 shares in the last quarter. Third Point LLC bought a new position in BlackRock in the second quarter worth $654,736,000. Finally, The Manufacturers Life Insurance Company raised its holdings in BlackRock by 2.8% in the second quarter. The Manufacturers Life Insurance Company now owns 652,317 shares of the asset manager’s stock worth $275,544,000 after purchasing an additional 18,054 shares in the last quarter. Institutional investors and hedge funds own 83.54% of the company’s stock.

In related news, 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 transaction of $47,754.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Susan Wagner sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total value of $2,024,400.00. Following the transaction, the director now owns 481,915 shares of the company’s stock, valued at approximately $243,897,181.50. The disclosure for this sale can be found here. 1.86% of the stock is owned by corporate insiders.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 22nd. Investors 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 2.07%. This is an increase from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio is currently 46.82%.

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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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