Brokers Offer Predictions for BlackRock FY2024 Earnings

BlackRock, Inc. (NYSE:BLK) – Stock analysts at Zacks Research raised their FY2024 earnings estimates for shares of BlackRock in a research report issued to clients and investors on Wednesday, November 27th. Zacks Research analyst R. Department now forecasts that the asset manager will post earnings of $42.78 per share for the year, up from their prior estimate of $42.73. The consensus estimate for BlackRock’s current full-year earnings is $43.18 per share. Zacks Research also issued estimates for BlackRock’s Q4 2024 earnings at $11.15 EPS, Q1 2025 earnings at $10.79 EPS, Q2 2025 earnings at $11.27 EPS, Q3 2025 earnings at $11.70 EPS, Q4 2025 earnings at $13.23 EPS, FY2025 earnings at $47.00 EPS, Q2 2026 earnings at $13.18 EPS and Q3 2026 earnings at $12.86 EPS.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a return on equity of 15.52% and a net margin of 31.37%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.03 billion. BlackRock’s revenue was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $10.91 earnings per share.

Several other analysts have also issued reports on the stock. Barclays boosted their target price on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company boosted their price objective on shares of BlackRock from $1,000.00 to $1,070.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on BlackRock from $864.00 to $914.00 and gave the stock a “neutral” rating in a report on Monday, October 21st. Evercore ISI boosted their price target on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, The Goldman Sachs Group raised their price objective on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research note on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, BlackRock currently has a consensus rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Trading Down 0.2 %

BlackRock stock opened at $1,020.34 on Monday. The business has a 50-day simple moving average of $994.93 and a two-hundred day simple moving average of $888.81. BlackRock has a 52-week low of $742.22 and a 52-week high of $1,068.34. The company has a quick ratio of 5.06, a current ratio of 5.06 and a debt-to-equity ratio of 0.37. The company has a market cap of $158.03 billion, a P/E ratio of 25.18, a P/E/G ratio of 1.82 and a beta of 1.30.

BlackRock Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 23rd. Shareholders of record on Thursday, December 5th will be paid a $5.10 dividend. The ex-dividend date is Thursday, December 5th. This represents a $20.40 annualized dividend and a yield of 2.00%. BlackRock’s payout ratio is 50.35%.

Hedge Funds Weigh In On BlackRock

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. FSA Wealth Management LLC bought a new position in shares of BlackRock during the 3rd quarter valued at about $26,000. Fairscale Capital LLC purchased a new stake in shares of BlackRock in the second quarter worth about $31,000. Reston Wealth Management LLC purchased a new stake in shares of BlackRock during the 3rd quarter worth approximately $37,000. MFA Wealth Advisors LLC grew its holdings in shares of BlackRock by 100.0% in the third quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock valued at $38,000 after purchasing an additional 20 shares in the last quarter. Finally, Addison Advisors LLC increased its position in BlackRock by 81.5% in the third quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after purchasing an additional 22 shares during the last quarter. Institutional investors own 80.69% of the company’s stock.

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.