Brokers Set Expectations for BlackRock Inc.’s Q3 2016 Earnings (BLK)
BlackRock Inc. (NYSE:BLK) – Credit Agricole SA reduced their Q3 2016 earnings estimates for shares of BlackRock in a research note issued on Wednesday. Credit Agricole SA analyst R. Rutschow now anticipates that the firm will earn $5.01 per share for the quarter, down from their prior forecast of $5.06. Credit Agricole SA also issued estimates for BlackRock’s FY2018 earnings at $23.85 EPS.
BLK has been the subject of several other research reports. Deutsche Bank AG boosted their price target on shares of BlackRock from $392.00 to $400.00 and gave the company a “buy” rating in a report on Friday, August 5th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $393.00 price target on shares of BlackRock in a report on Friday. Jefferies Group reduced their price target on shares of BlackRock from $359.00 to $357.00 and set a “hold” rating for the company in a report on Monday, July 11th. Wells Fargo & Co. restated a “hold” rating on shares of BlackRock in a report on Monday, July 11th. Finally, Barclays PLC boosted their price target on shares of BlackRock from $375.00 to $378.00 and gave the company an “equal weight” rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. BlackRock currently has a consensus rating of “Buy” and a consensus target price of $385.26.
BlackRock (NYSE:BLK) opened at 354.91 on Friday. The company has a 50-day moving average of $364.07 and a 200-day moving average of $357.11. The company has a market capitalization of $58.37 billion, a P/E ratio of 18.91 and a beta of 1.46. BlackRock has a 1-year low of $280.55 and a 1-year high of $376.65.
BlackRock (NYSE:BLK) last posted its earnings results on Thursday, July 14th. The company reported $4.78 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.82 by $0.04. The firm had revenue of $2.80 billion for the quarter, compared to analysts’ expectations of $2.81 billion. BlackRock had a return on equity of 11.07% and a net margin of 28.12%. The business’s revenue for the quarter was down 3.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.96 earnings per share.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 23rd. Stockholders of record on Friday, September 2nd were issued a $2.29 dividend. This represents a $9.16 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Wednesday, August 31st. BlackRock’s dividend payout ratio (DPR) is currently 48.83%.
In related news, Director Susan Wagner sold 79,346 shares of the stock in a transaction on Friday, July 29th. The shares were sold at an average price of $366.35, for a total transaction of $29,068,407.10. Following the sale, the director now directly owns 587,365 shares of the company’s stock, valued at $215,181,167.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ryan Stork sold 1,400 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $367.24, for a total transaction of $514,136.00. The disclosure for this sale can be found here. 2.20% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the company. Capital Fund Management S.A. increased its stake in shares of BlackRock by 1,742.8% in the second quarter. Capital Fund Management S.A. now owns 31,327 shares of the company’s stock worth $10,730,000 after buying an additional 29,627 shares during the period. Windward Capital Management Co. CA increased its stake in shares of BlackRock by 0.8% in the second quarter. Windward Capital Management Co. CA now owns 44,866 shares of the company’s stock worth $15,368,000 after buying an additional 363 shares during the period. Legal & General Group Plc increased its stake in shares of BlackRock by 1.7% in the first quarter. Legal & General Group Plc now owns 525,766 shares of the company’s stock worth $179,060,000 after buying an additional 8,694 shares during the period. Royal Bank of Canada increased its stake in shares of BlackRock by 2.2% in the first quarter. Royal Bank of Canada now owns 436,900 shares of the company’s stock worth $148,796,000 after buying an additional 9,486 shares during the period. Finally, LS Investment Advisors LLC increased its stake in shares of BlackRock by 2.2% in the second quarter. LS Investment Advisors LLC now owns 38,951 shares of the company’s stock worth $13,342,000 after buying an additional 849 shares during the period. 81.58% of the stock is currently owned by hedge funds and other institutional investors.
BlackRock, Inc is an investment management company. The Company provides a range of investment and risk management services to institutional and retail clients across the world. Its offerings include single and multi-asset class portfolios investing in equities, fixed income, alternatives and money market instruments.
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