BlackRock (BLK) Set to Announce Earnings on Friday

BlackRock (NYSE:BLK) will issue its quarterly earnings data before the market opens on Friday, October 11th. Analysts expect the company to announce earnings of $10.30 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, topping analysts’ consensus estimates of $9.96 by $0.40. The company had revenue of $4.81 billion for the quarter, compared to analysts’ expectations of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. BlackRock’s revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the business earned $9.28 earnings per share. On average, analysts expect BlackRock to post $41 EPS for the current fiscal year and $46 EPS for the next fiscal year.

BlackRock Price Performance

Shares of NYSE:BLK opened at $951.49 on Friday. The firm has a 50 day simple moving average of $888.15 and a 200 day simple moving average of $825.47. The company has a market cap of $141.39 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 2.05 and a beta of 1.30. BlackRock has a one year low of $596.18 and a one year high of $958.63. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were given a dividend of $5.10 per share. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.14%. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Analyst Ratings Changes

Several research analysts have recently weighed in on BLK shares. TD Cowen lowered their price objective on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday, July 8th. The Goldman Sachs Group increased their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday. Evercore ISI upped their price target on BlackRock from $920.00 to $945.00 and gave the stock an “outperform” rating in a report on Thursday, September 5th. Keefe, Bruyette & Woods lifted their price objective on shares of BlackRock from $915.00 to $934.00 and gave the stock an “outperform” rating in a report on Tuesday, July 16th. Finally, Argus lifted their target price on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $925.07.

Insider Activity

In related news, Director Mark Wiedman sold 12,000 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other BlackRock news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Laurence Fink sold 29,450 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $843.25, for a total value of $24,833,712.50. Following the completion of the sale, the chief executive officer now directly owns 353,718 shares in the company, valued at $298,272,703.50. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock worth $79,387,117 in the last quarter. 0.90% of the stock is owned by company insiders.

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.