BlackRock (BLK) Set to Announce Earnings on Friday

BlackRock (NYSE:BLK) is scheduled to be issuing its quarterly earnings data before the market opens on Friday, October 11th. Analysts expect the company to announce earnings of $10.30 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 EPS for the quarter, beating the consensus estimate of $9.96 by $0.40. The firm had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a return on equity of 15.44% and a net margin of 32.36%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the company earned $9.28 EPS. 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 0.9 %

Shares of BLK opened at $949.07 on Wednesday. BlackRock has a 1 year low of $596.18 and a 1 year high of $960.74. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06. The stock has a 50 day simple moving average of $891.57 and a two-hundred day simple moving average of $827.42. The firm has a market cap of $141.03 billion, a P/E ratio of 24.12, a P/E/G ratio of 2.05 and a beta of 1.30.

BlackRock Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 23rd. Stockholders of record on Monday, September 9th were paid a $5.10 dividend. The ex-dividend date of this dividend was Monday, September 9th. This represents a $20.40 dividend on an annualized basis and a dividend yield of 2.15%. BlackRock’s dividend payout ratio (DPR) is 51.84%.

Insider Buying and Selling

In other news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the completion of the transaction, the director now owns 6,480 shares in the company, valued at $5,832,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other BlackRock news, CEO Laurence Fink sold 29,450 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $843.25, for a total value of $24,833,712.50. Following the sale, the chief executive officer now owns 353,718 shares in the company, valued at approximately $298,272,703.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $900.00, for a total transaction of $10,800,000.00. Following the transaction, the director now owns 6,480 shares of the company’s stock, valued at $5,832,000. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 93,042 shares of company stock valued at $79,387,117 over the last three months. Corporate insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on BLK. The Goldman Sachs Group lifted their target price on shares of BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Keefe, Bruyette & Woods boosted their target price on BlackRock from $915.00 to $934.00 and gave the company an “outperform” rating in a research note on Tuesday, July 16th. Deutsche Bank Aktiengesellschaft raised their price target on BlackRock from $912.00 to $937.00 and gave the stock a “buy” rating in a research report on Thursday, August 15th. Argus boosted their price objective on BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, Evercore ISI raised their target price on shares of BlackRock from $945.00 to $995.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $943.93.

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.