Gabelli Research Analysts Raise Earnings Estimates for BlackRock Inc. (BLK)
BlackRock Inc. (NYSE:BLK) – Gabelli increased their Q3 2016 earnings per share estimates for shares of BlackRock in a research report issued on Wednesday. Gabelli analyst M. Sykes now forecasts that the brokerage will post earnings per share of $5.03 for the quarter, up from their previous estimate of $4.93. Gabelli also issued estimates for BlackRock’s FY2017 earnings at $23.54 EPS, FY2018 earnings at $28.05 EPS, FY2019 earnings at $33.30 EPS and FY2020 earnings at $39.50 EPS.
A number of other research firms also recently issued reports on BLK. Goldman Sachs Group Inc. downgraded shares of BlackRock from a “conviction-buy” rating to a “buy” rating and increased their target price for the stock from $390.00 to $400.00 in a research report on Monday, August 8th. Deutsche Bank AG increased their target price on shares of BlackRock from $404.00 to $414.00 and gave the stock a “buy” rating in a research report on Friday, September 9th. Barclays PLC increased their target price on shares of BlackRock from $364.00 to $375.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 24th. Vetr downgraded shares of BlackRock from a “buy” rating to a “hold” rating and set a $382.97 target price for the company. in a research report on Tuesday, August 16th. Finally, Zacks Investment Research raised shares of BlackRock from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The company 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 stock has a market cap of $58.37 billion, a P/E ratio of 18.91 and a beta of 1.46. BlackRock has a 52 week low of $280.55 and a 52 week high of $376.65.
BlackRock (NYSE:BLK) last posted its quarterly earnings data on Thursday, July 14th. The company reported $4.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.82 by $0.04. BlackRock had a net margin of 28.12% and a return on equity of 11.07%. The business earned $2.80 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same period in the previous year, the business posted $4.96 EPS. The company’s revenue for the quarter was down 3.5% compared to the same quarter last year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 23rd. Investors of record on Friday, September 2nd were given a dividend of $2.29 per share. This represents a $9.16 annualized dividend and a dividend yield of 2.58%. The ex-dividend date of this dividend was Wednesday, August 31st. BlackRock’s dividend payout ratio is currently 48.83%.
In related news, Director James Grosfeld sold 10,911 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $371.98, for a total transaction of $4,058,673.78. Following the sale, the director now directly owns 514,402 shares of the company’s stock, valued at approximately $191,347,255.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Susan Wagner sold 79,346 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $366.35, for a total value of $29,068,407.10. Following the sale, the director now directly owns 587,365 shares in the company, valued at $215,181,167.75. The disclosure for this sale can be found here. Corporate insiders own 2.20% of the company’s stock.
Several large investors have recently bought and sold shares of BLK. Sun Life Financial INC bought a new stake in shares of BlackRock during the first quarter valued at $91,954,000. Feltz Wealth PLAN Inc. bought a new stake in shares of BlackRock during the second quarter valued at $126,000. Mycio Wealth Partners LLC raised its stake in shares of BlackRock by 3.3% in the second quarter. Mycio Wealth Partners LLC now owns 379 shares of the company’s stock valued at $130,000 after buying an additional 12 shares in the last quarter. Ropes Wealth Advisors LLC raised its stake in shares of BlackRock by 35.3% in the first quarter. Ropes Wealth Advisors LLC now owns 387 shares of the company’s stock valued at $132,000 after buying an additional 101 shares in the last quarter. Finally, Citizens Financial Group Inc RI raised its stake in shares of BlackRock by 16.1% in the first quarter. Citizens Financial Group Inc RI now owns 389 shares of the company’s stock valued at $133,000 after buying an additional 54 shares in the last quarter. 81.58% of the stock is currently owned by institutional investors and hedge funds.
BlackRock Company Profile
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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