Blackbaud (BLKB) Issues Earnings Results

Blackbaud (NASDAQ:BLKB) announced its quarterly earnings data on Monday. The technology company reported $0.59 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.04, MarketWatch Earnings reports. Blackbaud had a return on equity of 26.38% and a net margin of 7.84%. The firm had revenue of $209.50 million during the quarter, compared to analysts’ expectations of $205.50 million. During the same quarter last year, the firm posted $0.57 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Blackbaud updated its FY 2018 guidance to $2.46-2.52 EPS and its FY18 guidance to $2.46-2.52 EPS.

Shares of NASDAQ:BLKB traded up $2.00 during mid-day trading on Wednesday, hitting $74.54. 3,240 shares of the company traded hands, compared to its average volume of 607,840. The stock has a market cap of $3.42 billion, a price-to-earnings ratio of 46.70, a PEG ratio of 4.94 and a beta of 0.61. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.35. Blackbaud has a 12-month low of $65.51 and a 12-month high of $120.35.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Wednesday, November 28th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Tuesday, November 27th. This represents a $0.48 annualized dividend and a dividend yield of 0.64%. Blackbaud’s payout ratio is 30.19%.

In related news, Director Andrew M. Leitch sold 3,000 shares of Blackbaud stock in a transaction on Friday, August 10th. The stock was sold at an average price of $95.72, for a total transaction of $287,160.00. Following the sale, the director now directly owns 24,457 shares in the company, valued at $2,341,024.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director George H. Ellis sold 2,652 shares of Blackbaud stock in a transaction on Monday, August 13th. The stock was sold at an average price of $96.16, for a total value of $255,016.32. Following the sale, the director now owns 7,730 shares in the company, valued at $743,316.80. The disclosure for this sale can be found here. 1.55% of the stock is owned by insiders.

A number of equities research analysts have commented on the company. KeyCorp assumed coverage on Blackbaud in a research note on Monday, July 23rd. They issued a “sector weight” rating for the company. BidaskClub raised Blackbaud from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 21st. Needham & Company LLC assumed coverage on Blackbaud in a research note on Wednesday, July 18th. They issued a “hold” rating for the company. William Blair cut Blackbaud from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 31st. Finally, Zacks Investment Research cut Blackbaud from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Three investment analysts have rated the stock with a sell rating and twelve have given a hold rating to the company’s stock. Blackbaud currently has a consensus rating of “Hold” and an average target price of $94.71.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, corporations, education institutions, healthcare organizations, and other charitable giving entities primarily in the United States, Canada, the United Kingdom, and Australia. The company offers Raiser's Edge NXT and Blackbaud CRM (constituent relationship management), which are fundraising and relationship management solutions; Luminate CRM for campaign management, constituent relations, business intelligence, and analytics; eTapestry, a cloud fundraising and donor management solution; everydayhero, a cloud crowdfundraising solution; and JustGiving, a social platform for giving.

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Earnings History for Blackbaud (NASDAQ:BLKB)

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