Blackbaud, Inc. (BLKB) to Post Q1 2020 Earnings of $0.33 Per Share, KeyCorp Forecasts

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Blackbaud, Inc. (NASDAQ:BLKB) – KeyCorp issued their Q1 2020 earnings per share estimates for Blackbaud in a note issued to investors on Thursday, February 7th. KeyCorp analyst expects that the technology company will earn $0.33 per share for the quarter. KeyCorp also issued estimates for Blackbaud’s Q3 2020 earnings at $0.36 EPS and Q4 2020 earnings at $0.39 EPS.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Wednesday, February 6th. The technology company reported $0.46 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.10. The company had revenue of $221.79 million for the quarter, compared to analyst estimates of $220.40 million. Blackbaud had a return on equity of 24.41% and a net margin of 5.28%. Blackbaud’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 EPS.

Several other equities research analysts also recently issued reports on the company. BidaskClub raised Blackbaud from a “sell” rating to a “hold” rating in a research note on Wednesday, January 16th. Zacks Investment Research upgraded Blackbaud from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Wednesday, January 2nd. DA Davidson cut their target price on Blackbaud to $65.00 and set a “neutral” rating for the company in a research report on Thursday, January 3rd. Finally, Stephens assumed coverage on Blackbaud in a research note on Wednesday, January 16th. They issued an “overweight” rating and a $86.00 target price for the company. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $87.38.

NASDAQ:BLKB opened at $75.71 on Monday. Blackbaud has a 1 year low of $58.23 and a 1 year high of $120.35. The firm has a market capitalization of $3.51 billion, a PE ratio of 40.49, a price-to-earnings-growth ratio of 6.11 and a beta of 1.21. The company has a quick ratio of 0.66, a current ratio of 0.74 and a debt-to-equity ratio of 1.02.

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 15th. Shareholders of record on Wednesday, February 27th will be paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Tuesday, February 26th. Blackbaud’s dividend payout ratio is presently 25.67%.

In other news, Director Timothy C. K. Chou sold 1,000 shares of the company’s stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $70.88, for a total transaction of $70,880.00. Following the completion of the transaction, the director now directly owns 21,264 shares of the company’s stock, valued at $1,507,192.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.55% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Retirement Systems of Alabama grew its stake in shares of Blackbaud by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 62,974 shares of the technology company’s stock worth $3,961,000 after buying an additional 188 shares in the last quarter. First Hawaiian Bank raised its holdings in shares of Blackbaud by 75.5% in the 4th quarter. First Hawaiian Bank now owns 437 shares of the technology company’s stock valued at $27,000 after purchasing an additional 188 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Blackbaud by 2.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 16,146 shares of the technology company’s stock worth $1,015,000 after buying an additional 329 shares during the last quarter. Arizona State Retirement System grew its position in shares of Blackbaud by 1.1% in the 4th quarter. Arizona State Retirement System now owns 34,860 shares of the technology company’s stock worth $2,193,000 after buying an additional 363 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in Blackbaud by 2.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 19,345 shares of the technology company’s stock worth $1,217,000 after purchasing an additional 428 shares during the last quarter.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, corporations, education institutions, healthcare organizations, and other charitable giving entities primarily in the United States, Canada, the United Kingdom, and Australia. The company offers Raiser's Edge NXT and Blackbaud CRM (constituent relationship management), which are fundraising and relationship management solutions; Luminate CRM for campaign management, constituent relations, business intelligence, and analytics; eTapestry, a cloud fundraising and donor management solution; everydayhero, a cloud crowdfundraising solution; and JustGiving, a social platform for giving.

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Earnings History and Estimates for Blackbaud (NASDAQ:BLKB)

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