BlackRock (NYSE:BLK) Releases Earnings Results, Beats Expectations By $1.14 EPS

BlackRock (NYSE:BLK) announced its quarterly earnings results on Tuesday. The asset manager reported $10.95 EPS for the quarter, beating the Zacks’ consensus estimate of $9.81 by $1.14, MarketWatch Earnings reports. The company had revenue of $5.05 billion for the quarter, compared to analysts’ expectations of $4.82 billion. BlackRock had a net margin of 30.39% and a return on equity of 16.30%. BlackRock’s revenue was up 15.6% compared to the same quarter last year. During the same period in the prior year, the company posted $9.22 EPS.

Shares of NYSE:BLK opened at $867.81 on Thursday. The company’s fifty day moving average price is $895.01 and its 200-day moving average price is $866.24. The firm has a market capitalization of $132.08 billion, a price-to-earnings ratio of 24.39, a PEG ratio of 2.40 and a beta of 1.15. BlackRock has a one year low of $587.90 and a one year high of $959.89. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.08 and a quick ratio of 1.08.

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 22nd. Stockholders of record on Tuesday, September 7th were issued 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 payout ratio is 48.85%.

In other news, General Counsel Christopher J. Meade sold 2,106 shares of the stock in a transaction on Tuesday, July 20th. The shares were sold at an average price of $877.24, for a total value of $1,847,467.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.16% of the stock is owned by corporate insiders.

An institutional investor recently raised its position in BlackRock stock. Morgan Stanley raised its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,323,967 shares of the asset manager’s stock after buying 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.

A number of analysts recently commented on the stock. Credit Suisse Group dropped their price target on shares of BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating on the stock in a research note on Thursday, July 15th. Evercore ISI reaffirmed a “buy” rating and set a $956.00 target price on shares of BlackRock in a report on Thursday. UBS Group upped their target price on shares of BlackRock from $890.00 to $984.00 and gave the stock a “buy” rating in a report on Thursday, July 8th. Morgan Stanley upped their target price on shares of BlackRock from $944.00 to $1,017.00 and gave the stock an “overweight” rating in a report on Friday, July 9th. Finally, Jefferies Financial Group upped their target price on shares of BlackRock from $1,001.00 to $1,075.00 and gave the stock a “buy” rating in a report on Tuesday, August 31st. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $952.93.

BlackRock Company Profile

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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