Equities research analysts expect Blackbaud, Inc. (NASDAQ:BLKB) to announce $0.38 earnings per share for the current quarter, Zacks reports. Five analysts have issued estimates for Blackbaud’s earnings, with the highest EPS estimate coming in at $0.40 and the lowest estimate coming in at $0.36. Blackbaud posted earnings of $0.35 per share in the same quarter last year, which would suggest a positive year over year growth rate of 8.6%. The firm is scheduled to report its next quarterly earnings results after the market closes on Monday, July 31st.
According to Zacks, analysts expect that Blackbaud will report full-year earnings of $1.61 per share for the current financial year, with EPS estimates ranging from $1.56 to $1.65. For the next financial year, analysts forecast that the company will report earnings of $1.83 per share, with EPS estimates ranging from $1.70 to $1.95. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Blackbaud.
Blackbaud (NASDAQ:BLKB) last posted its earnings results on Monday, May 1st. The technology company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by $0.01. Blackbaud had a net margin of 6.11% and a return on equity of 31.13%. The firm had revenue of $183.62 million during the quarter, compared to the consensus estimate of $182.95 million. During the same period in the prior year, the company posted $0.42 EPS. The firm’s revenue was up 7.4% compared to the same quarter last year.
Several brokerages have recently issued reports on BLKB. B. Riley cut Blackbaud from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a report on Wednesday, May 3rd. Stifel Nicolaus reiterated a “buy” rating and set a $96.00 price objective on shares of Blackbaud in a research note on Friday. Raymond James Financial, Inc. started coverage on Blackbaud in a research note on Wednesday, April 19th. They set an “outperform” rating and a $90.00 price objective for the company. Benchmark Co. reiterated a “buy” rating and set a $90.00 price objective (up from $85.00) on shares of Blackbaud in a research note on Tuesday, May 2nd. Finally, Zacks Investment Research lowered Blackbaud from a “hold” rating to a “sell” rating in a research note on Thursday, May 4th. Three analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $77.75.
In related news, EVP John J. Mistretta sold 3,693 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $82.00, for a total value of $302,826.00. Following the completion of the transaction, the executive vice president now directly owns 86,278 shares in the company, valued at $7,074,796. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Sarah E. Nash sold 825 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $78.67, for a total value of $64,902.75. Following the completion of the transaction, the director now owns 20,652 shares of the company’s stock, valued at $1,624,692.84. The disclosure for this sale can be found here. Insiders sold 14,224 shares of company stock valued at $1,152,915 over the last quarter. 2.74% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Miles Capital Inc. raised its position in shares of Blackbaud by 0.3% in the first quarter. Miles Capital Inc. now owns 4,112 shares of the technology company’s stock valued at $315,000 after buying an additional 12 shares during the last quarter. Ngam Advisors L.P. boosted its position in Blackbaud by 0.4% in the first quarter. Ngam Advisors L.P. now owns 16,767 shares of the technology company’s stock worth $1,286,000 after buying an additional 66 shares during the period. Commerce Bank boosted its position in Blackbaud by 0.8% in the first quarter. Commerce Bank now owns 8,606 shares of the technology company’s stock worth $659,000 after buying an additional 70 shares during the period. State of Alaska Department of Revenue boosted its position in Blackbaud by 1.7% in the first quarter. State of Alaska Department of Revenue now owns 5,270 shares of the technology company’s stock worth $404,000 after buying an additional 90 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its position in Blackbaud by 1.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 10,840 shares of the technology company’s stock worth $831,000 after buying an additional 110 shares during the period.
Blackbaud (NASDAQ BLKB) traded down 0.03% on Wednesday, reaching $89.56. The company’s stock had a trading volume of 160,350 shares. The firm’s 50 day moving average price is $87.41 and its 200-day moving average price is $77.61. The company has a market capitalization of $4.16 billion, a price-to-earnings ratio of 90.56 and a beta of 0.76. Blackbaud has a 1-year low of $55.88 and a 1-year high of $92.73.
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About Blackbaud
Blackbaud, Inc is a cloud software company. The Company offers a range of cloud and on-premise solutions, as well as a resource network that empowers and connects organizations of all sizes. Its segments include the General Markets Business Unit (the GMBU), the Enterprise Customer Business Unit (the ECBU) and the International Business Unit (the IBU).
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