BlackRock (NYSE:BLK) Announces Earnings Results


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BlackRock (NYSE:BLK) posted its earnings results on Wednesday. The asset manager reported $10.18 earnings per share for the quarter, topping analysts’ consensus estimates of $9.14 by $1.04, MarketWatch Earnings reports. BlackRock had a return on equity of 14.91% and a net margin of 29.83%. The firm had revenue of $4.48 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the prior year, the business earned $8.34 EPS. The business’s revenue for the quarter was up 12.6% on a year-over-year basis.

Shares of BlackRock stock traded down $9.29 during trading hours on Friday, hitting $734.21. The company’s stock had a trading volume of 37,574 shares, compared to its average volume of 760,578. BlackRock has a 12-month low of $323.98 and a 12-month high of $788.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.01. The business has a 50 day moving average price of $716.12 and a two-hundred day moving average price of $624.97. The company has a market cap of $111.98 billion, a PE ratio of 24.33, a PEG ratio of 2.34 and a beta of 1.16.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 21st. Stockholders of record on Friday, December 4th were given a $3.63 dividend. The ex-dividend date was Thursday, December 3rd. This represents a $14.52 annualized dividend and a dividend yield of 1.98%. BlackRock’s payout ratio is 50.98%.

In other news, General Counsel Christopher J. Meade sold 179 shares of BlackRock stock in a transaction dated Tuesday, December 1st. The stock was sold at an average price of $710.50, for a total value of $127,179.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark Wiedman sold 3,850 shares of BlackRock stock in a transaction dated Monday, October 26th. The stock was sold at an average price of $626.47, for a total value of $2,411,909.50. The disclosure for this sale can be found here. Insiders sold 5,018 shares of company stock worth $3,209,898 over the last ninety days. Insiders own 1.42% of the company’s stock.

BLK has been the topic of several recent research reports. Morgan Stanley upped their price target on BlackRock from $750.00 to $890.00 and gave the stock an “overweight” rating in a research note on Monday. Barclays increased their target price on BlackRock from $800.00 to $850.00 and gave the company an “overweight” rating in a research note on Friday. Citigroup increased their price target on BlackRock from $690.00 to $800.00 and gave the company a “buy” rating in a report on Wednesday, October 14th. Wells Fargo & Company increased their price target on BlackRock from $700.00 to $805.00 and gave the company an “overweight” rating in a report on Wednesday, December 30th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on BlackRock from $835.00 to $838.00 and gave the company a “buy” rating in a report on Friday. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $709.08.

BlackRock Company Profile

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.

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Earnings History for BlackRock (NYSE:BLK)

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