BlackRock (BLK) Set to Announce Quarterly Earnings on Monday

BlackRock (NYSE:BLK) is scheduled to announce its earnings results before the market opens on Monday, July 15th. Analysts expect the company to announce earnings of $9.88 per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

BlackRock (NYSE:BLK) last issued its earnings results on Friday, April 12th. The asset manager reported $9.81 EPS for the quarter, topping the consensus estimate of $9.42 by $0.39. The firm had revenue of $4.73 billion during the quarter, compared to analysts’ expectations of $4.65 billion. BlackRock had a return on equity of 15.24% and a net margin of 32.26%. BlackRock’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period last year, the business earned $7.93 earnings per share. On average, analysts expect BlackRock to post $41 EPS for the current fiscal year and $46 EPS for the next fiscal year.

BlackRock Stock Up 0.4 %

Shares of BLK stock opened at $828.04 on Friday. The stock has a market cap of $123.05 billion, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 1.68 and a beta of 1.32. BlackRock has a one year low of $596.18 and a one year high of $845.00. The stock has a fifty day moving average price of $787.33 and a 200 day moving average price of $793.09. The company has a debt-to-equity ratio of 0.35, a current ratio of 5.32 and a quick ratio of 5.32.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 24th. Investors of record on Friday, June 7th were given a $5.10 dividend. The ex-dividend date was Friday, June 7th. This represents a $20.40 annualized dividend and a yield of 2.46%. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

Insider Transactions at BlackRock

In related news, Director Mark Wiedman sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $795.00, for a total transaction of $7,155,000.00. Following the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at approximately $5,151,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 30,978 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $807.29, for a total value of $25,008,229.62. Following the transaction, the chief executive officer now directly owns 383,168 shares of the company’s stock, valued at approximately $309,327,694.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mark Wiedman sold 9,000 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $795.00, for a total value of $7,155,000.00. Following the sale, the director now directly owns 6,480 shares in the company, valued at $5,151,600. The disclosure for this sale can be found here. Company insiders own 0.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BLK shares. Morgan Stanley cut their price objective on BlackRock from $1,025.00 to $1,013.00 and set an “overweight” rating for the company in a report on Thursday. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $915.00 price objective on shares of BlackRock in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. boosted their target price on BlackRock from $742.00 to $767.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 2nd. TD Cowen decreased their target price on BlackRock from $974.00 to $969.00 and set a “buy” rating for the company in a research report on Monday, July 8th. Finally, UBS Group cut their price objective on BlackRock from $842.00 to $837.00 and set a “neutral” rating on the stock in a report on Wednesday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $844.67.

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.