Zacks: Analysts Expect BlackRock, Inc. (BLK) to Announce $6.98 EPS

Equities analysts forecast that BlackRock, Inc. (NYSE:BLK) will report earnings of $6.98 per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for BlackRock’s earnings, with the lowest EPS estimate coming in at $6.83 and the highest estimate coming in at $7.19. BlackRock posted earnings per share of $5.92 during the same quarter last year, which would suggest a positive year-over-year growth rate of 17.9%. The company is expected to issue its next earnings results on Wednesday, October 10th.

On average, analysts expect that BlackRock will report full year earnings of $27.69 per share for the current fiscal year, with EPS estimates ranging from $27.25 to $28.05. For the next year, analysts anticipate that the business will report earnings of $30.29 per share, with EPS estimates ranging from $28.85 to $31.20. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for BlackRock.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Monday, July 16th. The asset manager reported $6.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $6.55 by $0.11. BlackRock had a return on equity of 13.29% and a net margin of 38.97%. The firm had revenue of $3.61 billion during the quarter, compared to analysts’ expectations of $3.58 billion. During the same period in the previous year, the business earned $5.24 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis.

BLK has been the topic of several recent analyst reports. Credit Suisse Group upped their price target on BlackRock from $678.00 to $682.00 and gave the company an “outperform” rating in a research note on Friday, April 13th. Morgan Stanley decreased their price target on BlackRock from $624.00 to $607.00 and set an “overweight” rating on the stock in a research note on Thursday, July 12th. Citigroup raised BlackRock from a “neutral” rating to a “buy” rating in a research note on Monday, June 18th. JPMorgan Chase & Co. set a $547.00 price target on BlackRock and gave the company a “buy” rating in a research note on Sunday, July 8th. Finally, Barclays decreased their price target on BlackRock from $615.00 to $595.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 17th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. BlackRock has a consensus rating of “Buy” and a consensus target price of $598.67.

In other news, Director William E. Ford bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 9th. The shares were purchased at an average price of $530.95 per share, with a total value of $530,950.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeff A. Smith sold 166 shares of the stock in a transaction dated Monday, May 21st. The stock was sold at an average price of $546.13, for a total value of $90,657.58. The disclosure for this sale can be found here. 1.86% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of The West lifted its stake in BlackRock by 3.8% during the 1st quarter. Bank of The West now owns 2,604 shares of the asset manager’s stock worth $1,411,000 after acquiring an additional 96 shares in the last quarter. World Asset Management Inc lifted its stake in BlackRock by 1.3% during the 2nd quarter. World Asset Management Inc now owns 7,442 shares of the asset manager’s stock worth $3,714,000 after acquiring an additional 99 shares in the last quarter. Pekin Singer Strauss Asset Management IL lifted its stake in BlackRock by 20.9% during the 1st quarter. Pekin Singer Strauss Asset Management IL now owns 578 shares of the asset manager’s stock worth $313,000 after acquiring an additional 100 shares in the last quarter. Intact Investment Management Inc. lifted its stake in BlackRock by 1.0% during the 2nd quarter. Intact Investment Management Inc. now owns 10,300 shares of the asset manager’s stock worth $5,144,000 after acquiring an additional 100 shares in the last quarter. Finally, HM Payson & Co. lifted its stake in BlackRock by 11.5% during the 1st quarter. HM Payson & Co. now owns 982 shares of the asset manager’s stock worth $532,000 after acquiring an additional 101 shares in the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:BLK traded down $2.19 during trading hours on Friday, hitting $502.92. The company had a trading volume of 571,576 shares, compared to its average volume of 599,805. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 1.02. The stock has a market cap of $82.09 billion, a P/E ratio of 22.25, a PEG ratio of 1.60 and a beta of 1.65. BlackRock has a 1 year low of $408.62 and a 1 year high of $594.52.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 24th. Investors of record on Friday, September 7th will be paid a dividend of $3.13 per share. This is a positive change from BlackRock’s previous quarterly dividend of $2.88. The ex-dividend date of this dividend is Thursday, September 6th. This represents a $12.52 annualized dividend and a yield of 2.49%. BlackRock’s dividend payout ratio is presently 50.97%.

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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