BlackRock (BLK) to Release Quarterly Earnings on Thursday

BlackRock (NYSE:BLK) is scheduled to announce its earnings results before the market opens on Thursday, January 11th. Analysts expect the company to announce earnings of $5.94 per share for the quarter.

BlackRock (NYSE:BLK) last issued its quarterly earnings results on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, topping the consensus estimate of $5.49 by $0.43. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.10 billion. BlackRock had a return on equity of 12.01% and a net margin of 29.52%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same period in the prior year, the business posted $5.14 earnings per share. On average, analysts expect BlackRock to post $22 EPS for the current fiscal year and $26 EPS for the next fiscal year.

BlackRock (NYSE BLK) opened at $529.49 on Tuesday. The company has a market capitalization of $84,890.00, a price-to-earnings ratio of 24.79, a price-to-earnings-growth ratio of 1.57 and a beta of 1.81. BlackRock has a fifty-two week low of $365.83 and a fifty-two week high of $529.72. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 1.09.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 21st. Shareholders of record on Monday, December 4th were issued a dividend of $2.50 per share. The ex-dividend date was Friday, December 1st. This represents a $10.00 annualized dividend and a yield of 1.89%. BlackRock’s payout ratio is currently 46.82%.

In other news, Director J. Richard Kushel sold 100 shares of BlackRock stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $481.58, for a total value of $48,158.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Susan Wagner sold 4,000 shares of BlackRock stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total value of $2,024,400.00. Following the completion of the transaction, the director now owns 481,915 shares in the company, valued at $243,897,181.50. The disclosure for this sale can be found here. Insiders sold a total of 5,200 shares of company stock worth $2,599,302 over the last quarter. Company insiders own 1.86% of the company’s stock.

Several research analysts have commented on BLK shares. Zacks Investment Research upgraded BlackRock from a “hold” rating to a “buy” rating and set a $501.00 price objective on the stock in a report on Tuesday, October 3rd. Goldman Sachs Group upgraded BlackRock from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $440.00 to $500.00 in a report on Thursday, September 28th. Jefferies Group restated a “hold” rating and set a $465.00 price objective on shares of BlackRock in a report on Thursday, October 12th. Keefe, Bruyette & Woods restated a “hold” rating and set a $500.00 price objective on shares of BlackRock in a report on Thursday, October 12th. Finally, Wells Fargo & Co restated a “market perform” rating and set a $475.00 price objective (up from $450.00) on shares of BlackRock in a report on Thursday, October 12th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $489.08.

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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.

Earnings History for BlackRock (NYSE:BLK)

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