BlackRock (NYSE:BLK) announced its quarterly earnings data on Tuesday. The asset manager reported $6.61 EPS for the quarter, beating the Zacks’ consensus estimate of $6.13 by $0.48, MarketWatch Earnings reports. The business had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.30 billion. BlackRock had a net margin of 30.32% and a return on equity of 13.51%. The firm’s revenue for the quarter was down 6.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.48 earnings per share.
NYSE BLK opened at $466.54 on Wednesday. The stock has a market capitalization of $71.41 billion, a P/E ratio of 17.32, a price-to-earnings-growth ratio of 1.70 and a beta of 1.40. BlackRock has a twelve month low of $360.79 and a twelve month high of $557.00. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.64.
A number of research analysts have recently commented on BLK shares. Credit Suisse Group reaffirmed a “buy” rating and set a $532.00 price objective on shares of BlackRock in a research report on Thursday, January 17th. Argus reaffirmed a “buy” rating on shares of BlackRock in a research report on Thursday, January 17th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $472.00 price objective on shares of BlackRock in a research report on Wednesday, January 9th. Barclays reissued a “buy” rating on shares of BlackRock in a research note on Thursday, January 10th. Finally, Citigroup lowered their target price on shares of BlackRock from $500.00 to $450.00 and set a “buy” rating on the stock in a research note on Wednesday, December 19th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. BlackRock currently has a consensus rating of “Buy” and a consensus price target of $501.53.
A number of institutional investors have recently modified their holdings of BLK. WESPAC Advisors SoCal LLC bought a new stake in BlackRock during the fourth quarter worth about $25,000. Hanson McClain Inc. grew its stake in BlackRock by 425.0% during the fourth quarter. Hanson McClain Inc. now owns 63 shares of the asset manager’s stock worth $25,000 after buying an additional 51 shares during the last quarter. Private Ocean LLC grew its stake in BlackRock by 620.0% during the fourth quarter. Private Ocean LLC now owns 72 shares of the asset manager’s stock worth $28,000 after buying an additional 62 shares during the last quarter. Evolution Wealth Advisors LLC bought a new stake in BlackRock during the fourth quarter worth about $33,000. Finally, Legacy Financial Advisors Inc. grew its stake in shares of BlackRock by 125.6% during the fourth quarter. Legacy Financial Advisors Inc. now owns 88 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 49 shares during the last quarter. 83.64% of the stock is currently owned by hedge funds and other institutional investors.
WARNING: This article was originally published by BBNS and is owned by of BBNS. If you are reading this article on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark legislation. The legal version of this article can be viewed at https://baseballnewssource.com/2019/04/17/blackrock-blk-posts-earnings-results-beats-estimates-by-0-48-eps/3359472.html.
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.
Featured Article: What is the float in trading stocks?
Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.