BlackLine, Inc. (BL) Expected to Post Earnings of -$0.03 Per Share

Wall Street analysts expect BlackLine, Inc. (NASDAQ:BL) to post ($0.03) earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Six analysts have issued estimates for BlackLine’s earnings, with estimates ranging from ($0.03) to ($0.02). BlackLine reported earnings per share of ($0.06) in the same quarter last year, which indicates a positive year over year growth rate of 50%. The company is scheduled to report its next earnings results on Thursday, May 3rd.

According to Zacks, analysts expect that BlackLine will report full year earnings of $0.01 per share for the current year, with EPS estimates ranging from $0.00 to $0.02. For the next financial year, analysts forecast that the company will post earnings of $0.10 per share, with EPS estimates ranging from $0.05 to $0.14. Zacks’ earnings per share calculations are an average based on a survey of analysts that follow BlackLine.

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BlackLine (NASDAQ:BL) last released its quarterly earnings results on Thursday, February 15th. The technology company reported $0.03 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.12. BlackLine had a negative return on equity of 6.53% and a negative net margin of 21.50%. The company had revenue of $50.23 million during the quarter, compared to analysts’ expectations of $47.69 million. During the same period last year, the business posted ($0.08) earnings per share. The firm’s revenue was up 42.1% compared to the same quarter last year.

A number of research analysts have recently weighed in on BL shares. JPMorgan Chase & Co. lowered BlackLine from a “neutral” rating to an “underweight” rating and set a $27.00 price objective on the stock. in a report on Thursday, January 25th. BidaskClub lowered BlackLine from a “sell” rating to a “strong sell” rating in a report on Friday, January 26th. Robert W. Baird reissued a “buy” rating on shares of BlackLine in a report on Friday, February 16th. KeyCorp reissued a “buy” rating and issued a $46.00 price objective on shares of BlackLine in a report on Thursday, February 15th. Finally, Zacks Investment Research lowered BlackLine from a “hold” rating to a “sell” rating in a report on Thursday, February 22nd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $39.12.

BL stock traded up $0.40 during trading on Wednesday, reaching $40.02. The company’s stock had a trading volume of 876,335 shares, compared to its average volume of 581,295. BlackLine has a 52 week low of $28.21 and a 52 week high of $45.19. The stock has a market capitalization of $2,042.32, a PE ratio of -54.08 and a beta of -1.51.

In related news, CRO Chris Murphy sold 50,000 shares of the firm’s stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $39.60, for a total transaction of $1,980,000.00. Following the sale, the executive now directly owns 68,872 shares of the company’s stock, valued at $2,727,331.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Therese Tucker sold 340,000 shares of the firm’s stock in a transaction dated Thursday, March 15th. The stock was sold at an average price of $40.75, for a total value of $13,855,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,090,000 shares of company stock worth $125,860,000. 22.35% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. DF Dent & Co. Inc. boosted its position in BlackLine by 21.3% during the third quarter. DF Dent & Co. Inc. now owns 2,270,403 shares of the technology company’s stock worth $77,466,000 after purchasing an additional 399,130 shares in the last quarter. Dragoneer Investment Group LLC boosted its position in BlackLine by 25.8% during the third quarter. Dragoneer Investment Group LLC now owns 1,422,115 shares of the technology company’s stock worth $48,523,000 after purchasing an additional 291,694 shares in the last quarter. BlackRock Inc. boosted its position in BlackLine by 27.4% during the fourth quarter. BlackRock Inc. now owns 1,229,997 shares of the technology company’s stock worth $40,344,000 after purchasing an additional 264,731 shares in the last quarter. TimesSquare Capital Management LLC boosted its position in BlackLine by 15.6% during the fourth quarter. TimesSquare Capital Management LLC now owns 896,725 shares of the technology company’s stock worth $29,413,000 after purchasing an additional 120,895 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in BlackLine by 61.7% during the third quarter. Wells Fargo & Company MN now owns 859,886 shares of the technology company’s stock worth $29,339,000 after purchasing an additional 328,004 shares in the last quarter. 79.54% of the stock is currently owned by hedge funds and other institutional investors.

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About BlackLine

BlackLine, Inc provides financial accounting close solutions delivered as a Software as a Service in the United States and internationally. Its solutions enables its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, and journal entry capabilities, as well as a range of data matching capabilities.

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