BlackRock (NYSE:BLK) Announces Quarterly Earnings Results

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

BLK stock traded down $10.17 during trading on Friday, hitting $733.33. 42,675 shares of the company’s stock were exchanged, compared to its average volume of 760,578. The business has a 50-day moving average price of $716.12 and a two-hundred day moving average price of $624.97. The stock has a market capitalization of $111.84 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 2.34 and a beta of 1.16. BlackRock has a 52-week low of $323.98 and a 52-week high of $788.00. The company has a current ratio of 1.01, a quick ratio of 1.02 and a debt-to-equity ratio of 0.45.

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

In other BlackRock news, Director Mark Wiedman sold 290 shares of the business’s stock in a transaction that occurred on Wednesday, November 25th. The stock was sold at an average price of $698.71, for a total value of $202,625.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Christopher J. Meade sold 179 shares of the stock in a transaction that occurred on Tuesday, December 1st. The shares were sold at an average price of $710.50, for a total value of $127,179.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,018 shares of company stock valued at $3,209,898. 1.42% of the stock is owned by company insiders.

A number of research firms have issued reports on BLK. Zacks Investment Research lowered shares of BlackRock from a “buy” rating to a “hold” rating and set a $733.00 target price on the stock. in a report on Monday, December 21st. Citigroup increased their target price on shares of BlackRock from $690.00 to $800.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. Wells Fargo & Company increased their target price on shares of BlackRock from $700.00 to $805.00 and gave the stock an “overweight” rating in a report on Wednesday, December 30th. BMO Capital Markets increased their target price on shares of BlackRock from $709.00 to $715.00 and gave the stock a “market perform” rating in a report on Friday. Finally, Barclays increased their target price on shares of BlackRock from $800.00 to $850.00 and gave the stock an “overweight” rating in a report on Friday. Two investment 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 a consensus rating of “Buy” and a consensus price target of $709.08.

About BlackRock

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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