Brokerages Anticipate BlackRock, Inc. (BLK) Will Post Quarterly Sales of $3.26 Billion

Equities analysts predict that BlackRock, Inc. (NYSE:BLK) will post sales of $3.26 billion for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for BlackRock’s earnings, with the highest sales estimate coming in at $3.33 billion and the lowest estimate coming in at $3.23 billion. BlackRock reported sales of $2.82 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 15.6%. The company is expected to report its next earnings results on Wednesday, April 18th.

According to Zacks, analysts expect that BlackRock will report full-year sales of $3.26 billion for the current year, with estimates ranging from $13.66 billion to $14.15 billion. For the next fiscal year, analysts forecast that the company will post sales of $15.08 billion per share, with estimates ranging from $14.57 billion to $15.55 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow BlackRock.

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BlackRock (NYSE:BLK) last announced its quarterly earnings data on Friday, January 12th. The asset manager reported $6.24 EPS for the quarter, beating the Zacks’ consensus estimate of $5.94 by $0.30. The business had revenue of $3.47 billion during the quarter, compared to analyst estimates of $3.33 billion. BlackRock had a net margin of 39.79% and a return on equity of 12.31%. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.14 earnings per share.

A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price objective for the company in a research report on Thursday, January 11th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $640.00 price objective on shares of BlackRock in a research report on Wednesday, March 14th. Jefferies Group upped their price objective on shares of BlackRock to $565.00 and gave the company a “hold” rating in a research report on Monday, January 15th. Citigroup upped their price objective on shares of BlackRock to $625.00 and gave the company a “buy” rating in a research report on Tuesday, January 16th. Finally, Wells Fargo reaffirmed a “market perform” rating and set a $555.00 price objective (up previously from $535.00) on shares of BlackRock in a research report on Tuesday, January 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $567.15.

BLK stock opened at $521.13 on Friday. The company has a market cap of $90,670.66, a PE ratio of 17.20, a PEG ratio of 1.52 and a beta of 1.71. The company has a current ratio of 2.94, a quick ratio of 2.94 and a debt-to-equity ratio of 0.93. BlackRock has a 52-week low of $368.00 and a 52-week high of $594.52.

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 22nd. Investors of record on Wednesday, March 7th were given a $2.88 dividend. This represents a $11.52 annualized dividend and a yield of 2.21%. The ex-dividend date was Tuesday, March 6th. This is a positive change from BlackRock’s previous quarterly dividend of $2.50. BlackRock’s dividend payout ratio is 38.02%.

In related news, COO Robert L. Goldstein sold 5,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $558.00, for a total value of $2,790,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeff A. Smith sold 425 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $565.96, for a total transaction of $240,533.00. The disclosure for this sale can be found here. Insiders sold 20,961 shares of company stock valued at $11,375,444 in the last three months. Company insiders own 1.86% of the company’s stock.

A number of large investors have recently bought and sold shares of the stock. Chemical Bank increased its holdings in shares of BlackRock by 23.1% during the fourth quarter. Chemical Bank now owns 4,636 shares of the asset manager’s stock worth $2,382,000 after buying an additional 869 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in shares of BlackRock by 5.1% during the fourth quarter. Rehmann Capital Advisory Group now owns 2,191 shares of the asset manager’s stock worth $1,126,000 after buying an additional 107 shares in the last quarter. KCM Investment Advisors LLC increased its holdings in shares of BlackRock by 45.1% during the fourth quarter. KCM Investment Advisors LLC now owns 962 shares of the asset manager’s stock worth $494,000 after buying an additional 299 shares in the last quarter. Colonial Trust Advisors increased its holdings in shares of BlackRock by 47.5% during the fourth quarter. Colonial Trust Advisors now owns 1,894 shares of the asset manager’s stock worth $973,000 after buying an additional 610 shares in the last quarter. Finally, Xact Kapitalforvaltning AB increased its holdings in shares of BlackRock by 8.9% during the fourth quarter. Xact Kapitalforvaltning AB now owns 27,134 shares of the asset manager’s stock worth $13,939,000 after buying an additional 2,212 shares in the last quarter. 84.74% of the stock is owned by hedge funds and other institutional investors.

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About BlackRock

BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.

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