Zacks: Analysts Expect Blackline Inc (NASDAQ:BL) Will Announce Earnings of $0.02 Per Share

Wall Street analysts expect Blackline Inc (NASDAQ:BL) to announce earnings per share of $0.02 for the current fiscal quarter, Zacks reports. Seven analysts have issued estimates for Blackline’s earnings, with the lowest EPS estimate coming in at $0.01 and the highest estimate coming in at $0.02. Blackline reported earnings per share of $0.01 in the same quarter last year, which would suggest a positive year over year growth rate of 100%. The company is expected to announce its next earnings results after the market closes on Thursday, August 1st.

According to Zacks, analysts expect that Blackline will report full-year earnings of $0.17 per share for the current fiscal year, with EPS estimates ranging from $0.16 to $0.18. For the next fiscal year, analysts forecast that the business will post earnings of $0.29 per share, with EPS estimates ranging from $0.26 to $0.30. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for Blackline.

Blackline (NASDAQ:BL) last issued its quarterly earnings results on Thursday, May 2nd. The technology company reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.14. The business had revenue of $64.13 million for the quarter, compared to analysts’ expectations of $63.33 million. Blackline had a negative net margin of 12.15% and a negative return on equity of 5.02%. The company’s revenue was up 25.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.01 EPS.

BL has been the topic of several analyst reports. Goldman Sachs Group cut shares of LATAM Airlines Group from a “neutral” rating to a “sell” rating and lifted their price target for the stock from $9.20 to $9.30 in a research note on Tuesday, July 2nd. BidaskClub cut shares of YY from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Finally, Zacks Investment Research upgraded shares of Hallmark Financial Services from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $52.00.

In related news, CFO Mark Partin sold 10,000 shares of Blackline stock in a transaction on Monday, July 1st. The shares were sold at an average price of $53.36, for a total transaction of $533,600.00. Following the transaction, the chief financial officer now owns 65,140 shares in the company, valued at approximately $3,475,870.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 29,500 shares of company stock worth $1,510,695. 15.77% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Icon Wealth Partners LLC purchased a new position in shares of Blackline during the 1st quarter valued at $34,000. Pier Capital LLC lifted its stake in shares of Blackline by 45.8% during the 1st quarter. Pier Capital LLC now owns 131,226 shares of the technology company’s stock valued at $6,078,000 after buying an additional 41,247 shares in the last quarter. Chicago Capital LLC lifted its stake in shares of Blackline by 1.6% during the 1st quarter. Chicago Capital LLC now owns 582,907 shares of the technology company’s stock valued at $27,000,000 after buying an additional 9,160 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Blackline by 0.8% during the 4th quarter. Northern Trust Corp now owns 571,770 shares of the technology company’s stock valued at $23,414,000 after buying an additional 4,734 shares in the last quarter. Finally, Redmond Asset Management LLC lifted its stake in shares of Blackline by 71.1% during the 1st quarter. Redmond Asset Management LLC now owns 29,707 shares of the technology company’s stock valued at $1,376,000 after buying an additional 12,340 shares in the last quarter. Institutional investors own 87.89% of the company’s stock.

Shares of Blackline stock traded down $0.89 on Thursday, hitting $46.64. 8,833 shares of the company’s stock were exchanged, compared to its average volume of 482,456. The firm has a 50-day moving average of $50.73. The company has a market capitalization of $2.66 billion, a PE ratio of -179.08 and a beta of 0.89. Blackline has a 1 year low of $34.01 and a 1 year high of $58.11. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.35 and a quick ratio of 1.35.

About Blackline

BlackLine, Inc provides financial accounting close solutions delivered primarily as Software as a Service in the United States and internationally. Its solutions enable its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, journal entry capabilities, and range of data matching capabilities.

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