BlackRock (NYSE:BLK) Posts Quarterly Earnings Results, Beats Estimates By $1.14 EPS

BlackRock (NYSE:BLK) issued its earnings results on Tuesday. The asset manager reported $10.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $9.81 by $1.14, MarketWatch Earnings reports. BlackRock had a net margin of 30.39% and a return on equity of 16.30%. The firm had revenue of $5.05 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter last year, the company posted $9.22 earnings per share. The firm’s revenue was up 15.6% compared to the same quarter last year.

Shares of BLK stock traded up $2.71 on Thursday, reaching $870.52. 2,730 shares of the company were exchanged, compared to its average volume of 583,632. The company has a market cap of $132.49 billion, a price-to-earnings ratio of 24.61, a P/E/G ratio of 2.40 and a beta of 1.15. The business has a 50-day moving average price of $895.01 and a 200 day moving average price of $866.24. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.08 and a current ratio of 1.08. BlackRock has a 1 year low of $587.90 and a 1 year high of $959.89.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 22nd. Stockholders of record on Tuesday, September 7th were paid a dividend of $4.13 per share. The ex-dividend date was Friday, September 3rd. This represents a $16.52 dividend on an annualized basis and a dividend yield of 1.90%. BlackRock’s dividend payout ratio is currently 48.85%.

Several brokerages recently issued reports on BLK. Jefferies Financial Group raised their target price on shares of BlackRock from $1,001.00 to $1,075.00 and gave the stock a “buy” rating in a report on Tuesday, August 31st. Credit Suisse Group reduced their target price on shares of BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating for the company in a report on Thursday, July 15th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of BlackRock from $1,039.00 to $1,008.00 and set a “buy” rating for the company in a report on Thursday. BMO Capital Markets cut their price objective on shares of BlackRock from $797.00 to $794.00 and set a “market perform” rating for the company in a report on Thursday. Finally, Citigroup lifted their price objective on shares of BlackRock from $1,030.00 to $1,035.00 and gave the company a “buy” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, BlackRock currently has an average rating of “Buy” and an average price target of $952.93.

In other news, General Counsel Christopher J. Meade sold 2,106 shares of the business’s stock in a transaction dated Tuesday, July 20th. The shares were sold at an average price of $877.24, for a total transaction of $1,847,467.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.16% of the stock is owned by insiders.

An institutional investor recently raised its position in BlackRock stock. Morgan Stanley increased its holdings in shares of BlackRock, Inc. (NYSE:BLK) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,323,967 shares of the asset manager’s stock after acquiring an additional 23,377 shares during the quarter. Morgan Stanley owned about 1.53% of BlackRock worth $2,033,403,000 at the end of the most recent reporting period. Institutional investors own 78.13% of the company’s stock.

BlackRock Company Profile

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

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Earnings History for BlackRock (NYSE:BLK)

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