Q3 2024 EPS Estimates for BlackRock, Inc. (NYSE:BLK) Raised by Zacks Research

BlackRock, Inc. (NYSE:BLK) – Analysts at Zacks Research raised their Q3 2024 earnings per share (EPS) estimates for shares of BlackRock in a research report issued on Monday, September 16th. Zacks Research analyst R. Department now forecasts that the asset manager will earn $9.96 per share for the quarter, up from their prior estimate of $9.91. The consensus estimate for BlackRock’s current full-year earnings is $41.34 per share. Zacks Research also issued estimates for BlackRock’s Q4 2024 earnings at $10.78 EPS, FY2024 earnings at $40.90 EPS, Q3 2025 earnings at $11.18 EPS, Q4 2025 earnings at $12.22 EPS, FY2025 earnings at $44.69 EPS, Q1 2026 earnings at $12.43 EPS, Q2 2026 earnings at $12.49 EPS and FY2026 earnings at $51.37 EPS.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The business had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. During the same quarter last year, the company earned $9.28 earnings per share. The business’s revenue for the quarter was up 7.7% compared to the same quarter last year.

BLK has been the subject of several other research reports. Evercore ISI lifted their price target on BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a report on Thursday, September 5th. Morgan Stanley dropped their price target on shares of BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a research report on Thursday, July 11th. Argus lifted their price target on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Barclays upped their price objective on BlackRock from $985.00 to $990.00 and gave the stock an “overweight” rating in a report on Monday, September 9th. Finally, Wells Fargo & Company began coverage on BlackRock in a report on Thursday, September 12th. They issued an “overweight” rating and a $1,000.00 target price on the stock. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $902.13.

BlackRock Trading Up 2.1 %

Shares of BLK opened at $923.31 on Thursday. BlackRock has a fifty-two week low of $596.18 and a fifty-two week high of $930.50. The company has a market capitalization of $137.20 billion, a PE ratio of 23.46, a price-to-earnings-growth ratio of 1.92 and a beta of 1.30. The stock has a fifty day moving average of $864.35 and a two-hundred day moving average of $816.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06.

BlackRock Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be issued a $5.10 dividend. This represents a $20.40 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Monday, September 9th. BlackRock’s dividend payout ratio is presently 51.84%.

Insider Buying and Selling at BlackRock

In other news, Director Pamela Daley sold 1,531 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total transaction of $1,289,224.48. Following the transaction, the director now directly owns 5,732 shares of the company’s stock, valued at $4,826,802.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other BlackRock news, Director Mark Wiedman sold 27,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $834.42, for a total transaction of $22,529,340.00. Following the completion of the sale, the director now owns 6,480 shares in the company, valued at approximately $5,407,041.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Pamela Daley sold 1,531 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the transaction, the director now directly owns 5,732 shares in the company, valued at $4,826,802.56. The disclosure for this sale can be found here. Insiders sold 93,042 shares of company stock valued at $79,387,117 over the last 90 days. 0.90% of the stock is owned by corporate insiders.

Institutional Trading of BlackRock

Institutional investors have recently added to or reduced their stakes in the stock. XML Financial LLC raised its stake in shares of BlackRock by 2.6% in the 2nd quarter. XML Financial LLC now owns 473 shares of the asset manager’s stock valued at $372,000 after purchasing an additional 12 shares in the last quarter. Hexagon Capital Partners LLC increased its holdings in BlackRock by 6.1% in the second quarter. Hexagon Capital Partners LLC now owns 226 shares of the asset manager’s stock valued at $177,000 after buying an additional 13 shares during the last quarter. Forza Wealth Management LLC raised its stake in BlackRock by 1.3% during the second quarter. Forza Wealth Management LLC now owns 1,044 shares of the asset manager’s stock valued at $822,000 after buying an additional 13 shares in the last quarter. Rosenberg Matthew Hamilton lifted its holdings in BlackRock by 4.4% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 311 shares of the asset manager’s stock worth $243,000 after buying an additional 13 shares during the last quarter. Finally, Tortoise Investment Management LLC grew its position in shares of BlackRock by 17.1% in the 2nd quarter. Tortoise Investment Management LLC now owns 89 shares of the asset manager’s stock worth $70,000 after acquiring an additional 13 shares in the last quarter. 80.69% of the stock is owned by institutional investors and hedge funds.

BlackRock Company Profile

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.