BlackRock (NYSE:BLK) Announces Quarterly Earnings Results, Beats Estimates By $0.27 EPS

BlackRock (NYSE:BLK) released its quarterly earnings results on Friday. The asset manager reported $10.42 EPS for the quarter, topping the consensus estimate of $10.15 by $0.27, RTT News reports. The firm had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.15 billion. BlackRock had a return on equity of 16.72% and a net margin of 30.97%. BlackRock’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the previous year, the company posted $10.18 EPS.

Shares of NYSE BLK opened at $867.58 on Friday. BlackRock has a twelve month low of $670.28 and a twelve month high of $973.16. The company has a current ratio of 3.04, a quick ratio of 3.04 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $131.80 billion, a price-to-earnings ratio of 23.07, a price-to-earnings-growth ratio of 1.89 and a beta of 1.17. The business has a 50 day simple moving average of $918.68 and a 200-day simple moving average of $903.33.

The company also recently declared a quarterly dividend, which was paid on Thursday, December 23rd. Stockholders of record on Tuesday, December 7th were issued a $4.13 dividend. The ex-dividend date of this dividend was Monday, December 6th. This represents a $16.52 dividend on an annualized basis and a dividend yield of 1.90%. BlackRock’s dividend payout ratio (DPR) is 43.94%.

In other news, CEO Laurence Fink sold 22,247 shares of the business’s stock in a transaction that occurred on Monday, October 25th. The stock was sold at an average price of $925.68, for a total value of $20,593,602.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J. Richard Kushel sold 405 shares of the business’s stock in a transaction that occurred on Monday, November 8th. The shares were sold at an average price of $964.45, for a total value of $390,602.25. The disclosure for this sale can be found here. Insiders sold a total of 39,017 shares of company stock valued at $36,055,061 over the last quarter. Company insiders own 1.16% of the company’s stock.

A hedge fund recently raised its stake in BlackRock stock. Morgan Stanley increased its stake 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 (SEC). The fund owned 2,323,967 shares of the asset manager’s stock after buying an additional 23,377 shares during the quarter. Morgan Stanley owned about 1.53% of BlackRock worth $2,033,403,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 77.94% of the company’s stock.

Several research firms recently commented on BLK. Bank of America began coverage on BlackRock in a research report on Thursday, December 16th. They set a “buy” rating on the stock. BMO Capital Markets reduced their price target on BlackRock from $797.00 to $794.00 and set a “market perform” rating on the stock in a research report on Thursday, October 14th. Deutsche Bank Aktiengesellschaft reduced their price target on BlackRock from $1,141.00 to $1,123.00 in a research report on Thursday. Evercore ISI reaffirmed a “buy” rating and issued a $956.00 target price on shares of BlackRock in a research report on Thursday, October 14th. Finally, Morgan Stanley upped their target price on BlackRock from $1,026.00 to $1,051.00 and gave the company an “overweight” rating in a research report on Friday, January 7th. One research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, BlackRock presently has a consensus rating of “Buy” and a consensus target price of $987.71.

About BlackRock

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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Earnings History for BlackRock (NYSE:BLK)

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