Zacks: Brokerages Anticipate Blackbaud, Inc. (BLKB) Will Post Earnings of $0.60 Per Share
Brokerages expect Blackbaud, Inc. (NASDAQ:BLKB) to announce earnings of $0.60 per share for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Blackbaud’s earnings, with estimates ranging from $0.56 to $0.62. Blackbaud reported earnings per share of $0.59 in the same quarter last year, which would indicate a positive year over year growth rate of 1.7%. The business is expected to report its next quarterly earnings results on Wednesday, February 14th.
On average, analysts expect that Blackbaud will report full year earnings of $2.17 per share for the current financial year, with EPS estimates ranging from $2.14 to $2.18. For the next fiscal year, analysts expect that the business will post earnings of $2.42 per share, with EPS estimates ranging from $2.24 to $2.52. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Blackbaud.
Blackbaud (NASDAQ:BLKB) last posted its quarterly earnings data on Wednesday, October 25th. The technology company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.51 by $0.05. Blackbaud had a net margin of 6.82% and a return on equity of 31.25%. The business had revenue of $195.51 million for the quarter, compared to analyst estimates of $196.35 million. During the same quarter in the previous year, the firm posted $0.45 earnings per share. Blackbaud’s quarterly revenue was up 6.8% on a year-over-year basis.
Several brokerages have recently issued reports on BLKB. Dougherty & Co began coverage on shares of Blackbaud in a research note on Tuesday, October 31st. They issued a “neutral” rating on the stock. Zacks Investment Research upgraded shares of Blackbaud from a “hold” rating to a “buy” rating and set a $115.00 target price on the stock in a research note on Monday, October 30th. Citigroup set a $112.00 target price on shares of Blackbaud and gave the stock a “buy” rating in a research note on Friday, October 27th. Robert W. Baird upped their target price on shares of Blackbaud from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Monday, October 23rd. Finally, B. Riley set a $82.00 target price on shares of Blackbaud and gave the stock a “hold” rating in a research note on Thursday, October 19th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Blackbaud presently has an average rating of “Buy” and a consensus price target of $94.75.
In other news, CFO Anthony W. Boor sold 1,989 shares of the business’s stock in a transaction that occurred on Wednesday, November 8th. The shares were sold at an average price of $98.26, for a total transaction of $195,439.14. Following the completion of the transaction, the chief financial officer now directly owns 105,342 shares of the company’s stock, valued at $10,350,904.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian Boruff sold 800 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $103.95, for a total transaction of $83,160.00. Following the transaction, the executive vice president now directly owns 50,862 shares of the company’s stock, valued at $5,287,104.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,655 shares of company stock worth $972,923. Insiders own 2.19% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Shelton Capital Management purchased a new position in shares of Blackbaud during the third quarter valued at approximately $235,000. Colony Group LLC purchased a new position in shares of Blackbaud during the third quarter valued at approximately $2,504,000. California Public Employees Retirement System raised its holdings in shares of Blackbaud by 6.4% during the third quarter. California Public Employees Retirement System now owns 72,366 shares of the technology company’s stock valued at $6,354,000 after purchasing an additional 4,366 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Blackbaud by 80.7% during the third quarter. Jane Street Group LLC now owns 6,081 shares of the technology company’s stock valued at $534,000 after purchasing an additional 2,715 shares during the last quarter. Finally, Segall Bryant & Hamill LLC raised its holdings in shares of Blackbaud by 10.8% during the third quarter. Segall Bryant & Hamill LLC now owns 73,132 shares of the technology company’s stock valued at $6,421,000 after purchasing an additional 7,156 shares during the last quarter.
Shares of Blackbaud (NASDAQ:BLKB) traded down $0.95 during midday trading on Wednesday, hitting $97.50. 224,490 shares of the stock traded hands, compared to its average volume of 297,947. The company has a market capitalization of $4,690.00, a P/E ratio of 58.60, a PEG ratio of 6.07 and a beta of 0.86. Blackbaud has a 52-week low of $59.54 and a 52-week high of $104.55. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 1.19.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Tuesday, November 28th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Monday, November 27th. This represents a $0.48 annualized dividend and a dividend yield of 0.49%. Blackbaud’s dividend payout ratio is presently 43.64%.
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Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).
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