BlackRock (NYSE:BLK) Posts Quarterly Earnings Results, Beats Expectations By $1.57 EPS

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BlackRock (NYSE:BLK) issued its quarterly earnings data on Thursday. The asset manager reported $10.18 earnings per share for the quarter, topping the consensus estimate of $8.61 by $1.57, RTT News reports. BlackRock had a return on equity of 14.91% and a net margin of 29.83%. The company had revenue of $4.48 billion during the quarter, compared to analyst estimates of $4.28 billion. During the same period in the prior year, the business posted $8.34 earnings per share. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year.

Shares of BLK stock opened at $779.75 on Thursday. The firm has a 50 day moving average of $714.60 and a two-hundred day moving average of $623.74. The stock has a market capitalization of $118.92 billion, a PE ratio of 25.85, a P/E/G ratio of 2.34 and a beta of 1.16. The company has a quick ratio of 1.02, a current ratio of 1.01 and a debt-to-equity ratio of 0.45. BlackRock has a 52 week low of $323.98 and a 52 week high of $788.00.

The firm also recently announced a quarterly dividend, which was paid on Monday, December 21st. Investors of record on Friday, December 4th were paid a dividend of $3.63 per share. This represents a $14.52 annualized dividend and a yield of 1.86%. The ex-dividend date was Thursday, December 3rd. BlackRock’s payout ratio is currently 50.98%.

In other BlackRock news, General Counsel Christopher J. Meade sold 179 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mark Wiedman sold 3,850 shares of the company’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $626.47, for a total transaction of $2,411,909.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,018 shares of company stock valued at $3,209,898. Insiders own 1.42% of the company’s stock.

Several equities analysts have recently commented on the company. Barclays upped their price target on BlackRock from $625.00 to $700.00 in a research note on Wednesday, October 14th. Citigroup upped their target price on shares of BlackRock from $690.00 to $800.00 and gave the company a “buy” rating in a research report on Wednesday, October 14th. Morgan Stanley lifted their price target on shares of BlackRock from $750.00 to $890.00 and gave the company an “overweight” rating in a research report on Monday. Zacks Investment Research downgraded shares of BlackRock from a “buy” rating to a “hold” rating and set a $733.00 price target on the stock. in a research note on Monday, December 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of BlackRock from $795.00 to $802.00 and gave the stock a “buy” rating in a research report on Friday, December 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $684.17.

About BlackRock

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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