Analysts forecast that BlackRock, Inc. (NYSE:BLK) will announce $2.97 billion in sales for the current quarter, according to Zacks. Four analysts have issued estimates for BlackRock’s earnings, with the lowest sales estimate coming in at $2.91 billion and the highest estimate coming in at $3.03 billion. BlackRock posted sales of $2.80 billion in the same quarter last year, which suggests a positive year over year growth rate of 6.1%. The firm is scheduled to announce its next earnings results before the market opens on Monday, July 17th.
According to Zacks, analysts expect that BlackRock will report full year sales of $2.97 billion for the current fiscal year, with estimates ranging from $11.80 billion to $12.32 billion. For the next financial year, analysts expect that the business will report sales of $13.16 billion per share, with estimates ranging from $12.84 billion to $13.48 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow BlackRock.
BlackRock (NYSE:BLK) last announced its quarterly earnings results on Wednesday, April 19th. The asset manager reported $5.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.94 by $0.31. The company had revenue of $2.82 billion during the quarter, compared to analysts’ expectations of $2.86 billion. BlackRock had a return on equity of 11.62% and a net margin of 29.74%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the business earned $4.25 earnings per share.
A number of equities analysts recently commented on BLK shares. Morgan Stanley reaffirmed a “buy” rating on shares of BlackRock in a report on Saturday, March 18th. Deutsche Bank AG raised their target price on BlackRock from $447.00 to $449.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $387.00 target price on shares of BlackRock in a report on Wednesday, May 17th. Bank of America Corporation reaffirmed a “buy” rating and issued a $450.00 target price on shares of BlackRock in a report on Monday, June 19th. Finally, Zacks Investment Research raised BlackRock from a “hold” rating to a “buy” rating and set a $480.00 target price on the stock in a report on Tuesday, June 20th. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $428.36.
In other news, insider Mark Mccombe sold 500 shares of the firm’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $405.98, for a total transaction of $202,990.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan Wagner sold 2,500 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $414.31, for a total value of $1,035,775.00. Following the transaction, the director now owns 484,386 shares of the company’s stock, valued at approximately $200,685,963.66. The disclosure for this sale can be found here. Company insiders own 1.86% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Proficio Capital Partners LLC raised its position in shares of BlackRock by 48.9% in the first quarter. Proficio Capital Partners LLC now owns 259 shares of the asset manager’s stock worth $103,000 after buying an additional 85 shares during the last quarter. Kings Point Capital Management raised its position in shares of BlackRock by 34.5% in the first quarter. Kings Point Capital Management now owns 273 shares of the asset manager’s stock worth $105,000 after buying an additional 70 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of BlackRock during the first quarter worth $108,000. Peoples Financial Services CORP. purchased a new position in shares of BlackRock during the first quarter worth $115,000. Finally, WFG Advisors LP raised its position in shares of BlackRock by 61.8% in the fourth quarter. WFG Advisors LP now owns 998 shares of the asset manager’s stock worth $117,000 after buying an additional 381 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.
Shares of BlackRock (NYSE:BLK) traded up 0.11% during trading on Wednesday, hitting $438.34. The stock had a trading volume of 766,228 shares. The firm has a market capitalization of $71.39 billion, a P/E ratio of 21.54 and a beta of 1.71. BlackRock has a 1-year low of $329.58 and a 1-year high of $442.83. The stock’s 50-day moving average price is $410.09 and its 200 day moving average price is $390.31.
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 23rd. Stockholders of record on Monday, June 5th were given a dividend of $2.50 per share. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $10.00 dividend on an annualized basis and a dividend yield of 2.28%. BlackRock’s payout ratio is 49.14%.
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.
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