Blackbaud (BLKB) Releases FY 2018 Earnings Guidance

Blackbaud (NASDAQ:BLKB) issued an update on its FY 2018 earnings guidance on Monday morning. The company provided earnings per share guidance of $2.46-2.52 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.49. The company issued revenue guidance of $844-854 million, compared to the consensus revenue estimate of $847.61 million.Blackbaud also updated its FY18 guidance to $2.46-2.52 EPS.

Shares of Blackbaud stock traded up $1.36 on Wednesday, reaching $73.90. 9,725 shares of the company were exchanged, compared to its average volume of 607,840. Blackbaud has a 1-year low of $65.51 and a 1-year high of $120.35. The company has a market cap of $3.42 billion, a PE ratio of 47.10, a P/E/G ratio of 4.94 and a beta of 0.61. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.77 and a current ratio of 0.77.

Blackbaud (NASDAQ:BLKB) last issued its quarterly earnings data on Monday, October 29th. The technology company reported $0.59 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.04. Blackbaud had a return on equity of 26.38% and a net margin of 7.84%. The company had revenue of $209.50 million during the quarter, compared to analysts’ expectations of $205.50 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. On average, sell-side analysts predict that Blackbaud will post 1.64 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Wednesday, November 28th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Tuesday, November 27th. Blackbaud’s dividend payout ratio is presently 30.19%.

A number of research firms recently commented on BLKB. BidaskClub lowered Blackbaud from a hold rating to a sell rating in a research note on Tuesday, October 16th. Robert W. Baird reduced their target price on Blackbaud from $105.00 to $82.00 and set a neutral rating on the stock in a research report on Friday, October 12th. TheStreet downgraded Blackbaud from a b rating to a c+ rating in a report on Wednesday, October 10th. ValuEngine downgraded Blackbaud from a buy rating to a hold rating in a report on Tuesday, October 9th. Finally, DA Davidson cut their price objective on Blackbaud from $105.00 to $82.00 and set a hold rating on the stock in a report on Tuesday, October 9th. Three research analysts have rated the stock with a sell rating and twelve have given a hold rating to the company. The stock has a consensus rating of Hold and a consensus price target of $94.71.

In related news, Director George H. Ellis sold 2,652 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $96.16, for a total transaction of $255,016.32. Following the sale, the director now directly owns 7,730 shares in the company, valued at approximately $743,316.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Andrew M. Leitch sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $95.72, for a total value of $287,160.00. Following the sale, the director now owns 24,457 shares in the company, valued at $2,341,024.04. The disclosure for this sale can be found here. Company insiders own 1.55% of the company’s stock.

About Blackbaud

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 and Estimates for Blackbaud (NASDAQ:BLKB)

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