BlackRock (NYSE:BLK) Announces Earnings Results

BlackRock (NYSE:BLK) released its earnings results on Wednesday. The asset manager reported $10.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $9.14 by $1.04, MarketWatch Earnings reports. BlackRock had a net margin of 29.83% and a return on equity of 14.91%. The business had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period last year, the company posted $8.34 EPS. The business’s revenue was up 12.6% on a year-over-year basis.

Shares of BlackRock stock traded down $9.29 during trading on Friday, hitting $734.21. 37,574 shares of the stock were exchanged, compared to its average volume of 760,578. The stock has a market cap of $111.98 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 2.34 and a beta of 1.16. The firm’s 50-day moving average price is $716.12 and its 200 day moving average price is $624.97. BlackRock has a 12-month low of $323.98 and a 12-month high of $788.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.01 and a quick ratio of 1.02.

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 21st. Stockholders of record on Friday, December 4th were given a dividend of $3.63 per share. The ex-dividend date was Thursday, December 3rd. This represents a $14.52 annualized dividend and a dividend yield of 1.98%. BlackRock’s dividend payout ratio (DPR) is currently 50.98%.

A number of research analysts have weighed in on BLK shares. Barclays raised their target price on shares of BlackRock from $800.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday. BMO Capital Markets raised their price target on shares of BlackRock from $709.00 to $715.00 and gave the stock a “market perform” rating in a report on Friday. Deutsche Bank Aktiengesellschaft raised their price target on shares of BlackRock from $835.00 to $838.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley raised their price target on shares of BlackRock from $750.00 to $890.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Wells Fargo & Company raised their price target on shares of BlackRock from $700.00 to $805.00 and gave the stock an “overweight” rating in a report on Wednesday, December 30th. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $709.08.

In related news, General Counsel Christopher J. Meade sold 179 shares of the business’s stock in a transaction on Tuesday, December 1st. The shares were sold at an average price of $710.50, for a total value of $127,179.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark Wiedman sold 3,850 shares of the business’s stock in a transaction on Monday, October 26th. The shares were sold at an average price of $626.47, for a total transaction of $2,411,909.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,018 shares of company stock valued at $3,209,898. Corporate insiders own 1.42% of the company’s stock.

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 for BlackRock (NYSE:BLK)

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