Gabelli Analysts Raise Earnings Estimates for BlackRock, Inc. (BLK)

BlackRock, Inc. (NYSE:BLK) – Equities researchers at Gabelli upped their Q3 2017 earnings per share estimates for shares of BlackRock in a research note issued to investors on Tuesday. Gabelli analyst M. Sykes now expects that the asset manager will post earnings of $5.56 per share for the quarter, up from their previous estimate of $5.54. Gabelli also issued estimates for BlackRock’s Q4 2017 earnings at $6.01 EPS, FY2017 earnings at $22.04 EPS, FY2018 earnings at $26.09 EPS, FY2019 earnings at $29.70 EPS, FY2020 earnings at $33.95 EPS and FY2021 earnings at $38.95 EPS.

Several other equities analysts have also issued reports on the company. Morgan Stanley reiterated an “overweight” rating and issued a $476.00 price objective (up from $460.00) on shares of BlackRock in a research report on Tuesday, July 18th. Barclays PLC started coverage on BlackRock in a research report on Friday, September 8th. They issued an “overweight” rating and a $475.00 price objective for the company. BidaskClub upgraded BlackRock from a “buy” rating to a “strong-buy” rating in a research report on Saturday, July 1st. Bank of America Corporation reiterated a “buy” rating and issued a $450.00 price objective on shares of BlackRock in a research report on Monday, June 19th. Finally, Credit Suisse Group reiterated an “outperform” rating on shares of BlackRock in a research report on Tuesday, August 29th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $462.00.

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Shares of BlackRock (BLK) opened at 465.49 on Wednesday. The stock has a market capitalization of $75.51 billion, a price-to-earnings ratio of 22.34 and a beta of 1.72. BlackRock has a 1-year low of $336.84 and a 1-year high of $465.87. The firm’s 50-day moving average is $432.25 and its 200-day moving average is $414.01.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Monday, July 17th. The asset manager reported $5.24 EPS for the quarter, missing analysts’ consensus estimates of $5.39 by ($0.15). BlackRock had a net margin of 29.92% and a return on equity of 11.74%. The firm had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the prior year, the company posted $4.78 earnings per share. BlackRock’s quarterly revenue was up 5.7% compared to the same quarter last year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Financial Architects Inc lifted its stake in BlackRock by 0.7% in the 2nd quarter. Financial Architects Inc now owns 291 shares of the asset manager’s stock valued at $123,000 after acquiring an additional 2 shares in the last quarter. Davis R M Inc. lifted its stake in BlackRock by 0.4% in the 2nd quarter. Davis R M Inc. now owns 564 shares of the asset manager’s stock valued at $238,000 after acquiring an additional 2 shares in the last quarter. National Asset Management Inc. lifted its stake in BlackRock by 0.4% in the 1st quarter. National Asset Management Inc. now owns 716 shares of the asset manager’s stock valued at $275,000 after acquiring an additional 3 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in BlackRock by 1.2% in the 2nd quarter. Proficio Capital Partners LLC now owns 262 shares of the asset manager’s stock valued at $111,000 after acquiring an additional 3 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. lifted its stake in BlackRock by 0.4% in the 2nd quarter. ZWJ Investment Counsel Inc. now owns 688 shares of the asset manager’s stock valued at $291,000 after acquiring an additional 3 shares in the last quarter. Hedge funds and other institutional investors own 82.47% of the company’s stock.

In other BlackRock news, insider Robert W. Fairbairn sold 3,675 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $415.31, for a total value of $1,526,264.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jeff A. Smith sold 522 shares of the business’s stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $421.52, for a total value of $220,033.44. The disclosure for this sale can be found here. Insiders sold a total of 4,447 shares of company stock worth $1,855,015 in the last 90 days. Company insiders own 1.86% of the company’s stock.

The company also recently announced a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Tuesday, September 5th were paid a $2.50 dividend. This represents a $10.00 annualized dividend and a yield of 2.15%. The ex-dividend date was Thursday, August 31st. BlackRock’s payout ratio is 47.98%.

About BlackRock

BlackRock, Inc (BlackRock) is an investment management company. BlackRock provides a range of investment and risk management services to institutional and retail clients worldwide. Its diverse platform of active (alpha) and index (beta) investment strategies across asset classes enables the Company to tailor investment outcomes and asset allocation solutions for clients.

Earnings History and Estimates for BlackRock (NYSE:BLK)

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