BlackRock, Inc. Forecasted to Earn FY2020 Earnings of $31.75 Per Share (NYSE:BLK)

BlackRock, Inc. (NYSE:BLK) – Research analysts at G.Research increased their FY2020 EPS estimates for BlackRock in a note issued to investors on Monday, August 12th. G.Research analyst M. Sykes now anticipates that the asset manager will earn $31.75 per share for the year, up from their prior forecast of $31.55. G.Research also issued estimates for BlackRock’s FY2021 earnings at $35.00 EPS, FY2022 earnings at $38.45 EPS and FY2023 earnings at $42.30 EPS.

BlackRock (NYSE:BLK) last posted its quarterly earnings results on Friday, July 19th. The asset manager reported $6.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.52 by ($0.11). BlackRock had a net margin of 30.25% and a return on equity of 13.23%. The business had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter in the previous year, the company earned $6.66 earnings per share. The business’s quarterly revenue was down 2.2% on a year-over-year basis.

Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of BlackRock from $527.00 to $525.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. Morgan Stanley upped their price target on shares of BlackRock from $550.00 to $553.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. UBS Group upped their price target on shares of BlackRock from $515.00 to $525.00 and gave the company a “buy” rating in a research report on Monday, July 8th. Finally, Barclays upped their price target on shares of BlackRock from $515.00 to $540.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $499.03.

NYSE BLK opened at $409.30 on Wednesday. The company has a 50-day simple moving average of $462.13 and a two-hundred day simple moving average of $447.03. The company has a quick ratio of 3.49, a current ratio of 3.49 and a debt-to-equity ratio of 0.83. BlackRock has a 12-month low of $360.79 and a 12-month high of $492.00. The firm has a market cap of $64.33 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.54 and a beta of 1.51.

Several institutional investors have recently bought and sold shares of the company. MidWestOne Financial Group Inc. bought a new position in BlackRock in the second quarter worth about $625,000. Security National Trust Co. raised its stake in BlackRock by 0.5% in the second quarter. Security National Trust Co. now owns 5,615 shares of the asset manager’s stock worth $2,635,000 after buying an additional 30 shares in the last quarter. Zacks Investment Management raised its stake in BlackRock by 0.4% in the second quarter. Zacks Investment Management now owns 110,122 shares of the asset manager’s stock worth $51,680,000 after buying an additional 482 shares in the last quarter. Pictet Asset Management Ltd. raised its stake in BlackRock by 2.7% in the second quarter. Pictet Asset Management Ltd. now owns 84,380 shares of the asset manager’s stock worth $39,600,000 after buying an additional 2,248 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. raised its stake in BlackRock by 7.1% in the second quarter. Beutel Goodman & Co Ltd. now owns 228,604 shares of the asset manager’s stock worth $81,922,000 after buying an additional 15,109 shares in the last quarter. Institutional investors own 81.77% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 24th. Stockholders of record on Thursday, September 5th will be issued a dividend of $3.30 per share. The ex-dividend date is Wednesday, September 4th. This represents a $13.20 dividend on an annualized basis and a dividend yield of 3.23%. BlackRock’s dividend payout ratio is currently 49.02%.

BlackRock Company Profile

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.

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Earnings History and Estimates for BlackRock (NYSE:BLK)

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