BlackRock (NYSE:BLK) announced its earnings results on Tuesday. The asset manager reported $10.95 earnings per share for the quarter, beating the consensus estimate of $9.81 by $1.14, MarketWatch Earnings reports. The firm had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $4.82 billion. BlackRock had a return on equity of 16.30% and a net margin of 30.39%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.22 EPS.
BLK stock opened at $867.81 on Thursday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. BlackRock has a twelve month low of $587.90 and a twelve month high of $959.89. The business’s fifty day moving average is $895.01 and its 200-day moving average is $866.24. The company has a market cap of $132.08 billion, a P/E ratio of 24.39, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15.
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 22nd. Stockholders of record on Tuesday, September 7th were paid a $4.13 dividend. This represents a $16.52 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, September 3rd. BlackRock’s dividend payout ratio (DPR) is currently 48.85%.
A hedge fund recently raised its stake in BlackRock stock. Morgan Stanley boosted its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,323,967 shares of the asset manager’s stock after purchasing an additional 23,377 shares during the period. Morgan Stanley owned about 1.53% of BlackRock worth $2,033,403,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 78.13% of the company’s stock.
Several brokerages have weighed in on BLK. Morgan Stanley lifted their target price on BlackRock from $944.00 to $1,017.00 and gave the company an “overweight” rating in a research note on Friday, July 9th. BMO Capital Markets reduced their target price on BlackRock from $797.00 to $794.00 and set a “market perform” rating on the stock in a report on Thursday. UBS Group boosted their target price on BlackRock from $890.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, July 8th. Jefferies Financial Group upped their price objective on BlackRock from $1,001.00 to $1,075.00 and gave the stock a “buy” rating in a report on Tuesday, August 31st. Finally, Credit Suisse Group reduced their price objective on BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating on the stock in a report on Thursday, July 15th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, BlackRock currently has an average rating of “Buy” and a consensus price target of $952.29.
BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.
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