BlackRock (NYSE:BLK) Posts Earnings Results

BlackRock (NYSE:BLK) announced its earnings results on Tuesday. The asset manager reported $10.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $9.81 by $1.14, MarketWatch Earnings reports. BlackRock had a net margin of 30.39% and a return on equity of 16.30%. The business had revenue of $5.05 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the firm earned $9.22 earnings per share. The business’s revenue for the quarter was up 15.6% on a year-over-year basis.

NYSE:BLK traded up $15.26 during trading hours on Thursday, reaching $883.07. The company had a trading volume of 8,862 shares, compared to its average volume of 583,632. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.45. BlackRock has a 52 week low of $587.90 and a 52 week high of $959.89. The firm has a market cap of $134.40 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 2.40 and a beta of 1.15. The firm’s 50 day moving average price is $895.01 and its 200-day moving average price is $866.24.

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 22nd. Shareholders of record on Tuesday, September 7th were given a $4.13 dividend. This represents a $16.52 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend was Friday, September 3rd. BlackRock’s dividend payout ratio (DPR) is presently 48.85%.

In other BlackRock news, General Counsel Christopher J. Meade sold 2,106 shares of BlackRock stock in a transaction that occurred on Tuesday, July 20th. The shares were sold at an average price of $877.24, for a total value of $1,847,467.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.16% of the company’s stock.

A hedge fund recently raised its stake in BlackRock stock. Morgan Stanley lifted its position in shares of BlackRock, Inc. (NYSE:BLK) by 1.0% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,323,967 shares of the asset manager’s stock after buying an additional 23,377 shares during the quarter. Morgan Stanley owned approximately 1.53% of BlackRock worth $2,033,403,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 78.13% of the company’s stock.

A number of equities analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of BlackRock from $1,021.00 to $1,026.00 and gave the company an “overweight” rating in a research note on Thursday. BMO Capital Markets decreased their target price on shares of BlackRock from $797.00 to $794.00 and set a “market perform” rating for the company in a research note on Thursday. Argus raised their price target on shares of BlackRock from $950.00 to $975.00 and gave the company a “buy” rating in a research report on Thursday, July 15th. Credit Suisse Group reduced their price target on shares of BlackRock from $1,011.00 to $1,000.00 and set an “outperform” rating for the company in a research report on Thursday, July 15th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of BlackRock from $1,039.00 to $1,008.00 and set a “buy” rating for the company in a research report on Thursday. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, BlackRock currently has an average rating of “Buy” and an average price target of $952.93.

About BlackRock

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

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Earnings History for BlackRock (NYSE:BLK)

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