FY2024 EPS Estimates for BlackRock Raised by Zacks Research

BlackRock, Inc. (NYSE:BLK) – Zacks Research raised their FY2024 earnings estimates for shares of BlackRock in a research report issued to clients and investors on Wednesday, November 27th. Zacks Research analyst R. Department now expects that the asset manager will post earnings of $42.78 per share for the year, up from their previous forecast of $42.73. The consensus estimate for BlackRock’s current full-year earnings is $43.18 per share. Zacks Research also issued estimates for BlackRock’s Q4 2024 earnings at $11.15 EPS, Q1 2025 earnings at $10.79 EPS, Q2 2025 earnings at $11.27 EPS, Q3 2025 earnings at $11.70 EPS, Q4 2025 earnings at $13.23 EPS, FY2025 earnings at $47.00 EPS, Q2 2026 earnings at $13.18 EPS and Q3 2026 earnings at $12.86 EPS.

Other research analysts have also issued research reports about the stock. The Goldman Sachs Group raised their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research note on Thursday, October 3rd. Wells Fargo & Company upped their price target on BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. TD Cowen boosted their price objective on BlackRock from $960.00 to $1,077.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Barclays raised their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. upped their price target on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,019.62.

BlackRock Trading Up 0.3 %

Shares of NYSE BLK opened at $1,022.80 on Monday. The stock has a market capitalization of $158.41 billion, a PE ratio of 25.24, a PEG ratio of 1.82 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $994.93 and a 200-day simple moving average of $888.81. BlackRock has a twelve month low of $742.22 and a twelve month high of $1,068.34.

BlackRock (NYSE:BLK) last posted its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, beating analysts’ consensus estimates of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same quarter in the prior year, the company posted $10.91 earnings per share. BlackRock’s revenue for the quarter was up 14.9% compared to the same quarter last year.

BlackRock Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be given a $5.10 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $20.40 dividend on an annualized basis and a yield of 1.99%. BlackRock’s payout ratio is currently 50.35%.

Institutional Investors Weigh In On BlackRock

A number of institutional investors have recently added to or reduced their stakes in the business. Mather Group LLC. boosted its holdings in BlackRock by 9.8% during the second quarter. Mather Group LLC. now owns 1,469 shares of the asset manager’s stock worth $1,225,000 after buying an additional 131 shares in the last quarter. Olistico Wealth LLC acquired a new stake in BlackRock in the 2nd quarter valued at about $53,000. Kingswood Wealth Advisors LLC increased its holdings in BlackRock by 14.2% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 795 shares of the asset manager’s stock valued at $626,000 after acquiring an additional 99 shares in the last quarter. Park Avenue Securities LLC raised its position in BlackRock by 7.2% during the second quarter. Park Avenue Securities LLC now owns 9,575 shares of the asset manager’s stock worth $7,539,000 after acquiring an additional 647 shares during the last quarter. Finally, Somerset Trust Co lifted its stake in BlackRock by 1.4% in the 2nd quarter. Somerset Trust Co now owns 4,255 shares of the asset manager’s stock valued at $3,350,000 after buying an additional 58 shares in the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

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.