Jefferies Group Research Analysts Increase Earnings Estimates for BlackRock, Inc. (BLK)

BlackRock, Inc. (NYSE:BLK) – Investment analysts at Jefferies Group increased their FY2017 earnings estimates for shares of BlackRock in a research report issued on Wednesday. Jefferies Group analyst D. Fannon now anticipates that the asset manager will post earnings of $22.63 per share for the year, up from their prior forecast of $22.51. Jefferies Group has a “Hold” rating and a $465.00 price objective on the stock. Jefferies Group also issued estimates for BlackRock’s Q4 2017 earnings at $6.24 EPS, Q1 2018 earnings at $6.37 EPS, Q2 2018 earnings at $6.83 EPS and Q3 2018 earnings at $7.22 EPS.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Wednesday, October 11th. The asset manager reported $5.92 earnings per share for the quarter, beating the consensus estimate of $5.49 by $0.43. The firm had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $3.10 billion. BlackRock had a net margin of 29.52% and a return on equity of 12.01%. The company’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the company posted $5.14 EPS.

Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research upgraded shares of BlackRock from a “hold” rating to a “strong-buy” rating and set a $614.00 price objective for the company in a research report on Thursday. Wells Fargo & Co restated a “market perform” rating and issued a $475.00 price objective (up previously from $450.00) on shares of BlackRock in a research report on Thursday, October 12th. JPMorgan Chase & Co. raised their price objective on shares of BlackRock to $558.00 and gave the company an “overweight” rating in a research report on Thursday, October 12th. Credit Suisse Group restated an “outperform” rating on shares of BlackRock in a research report on Thursday, October 12th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $500.00 price objective on shares of BlackRock in a research report on Thursday, October 12th. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $498.50.

Shares of BlackRock (NYSE:BLK) opened at $537.92 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.89 and a quick ratio of 2.89. The firm has a market cap of $86,250.00, a PE ratio of 25.18, a price-to-earnings-growth ratio of 1.57 and a beta of 1.81. BlackRock has a 1 year low of $365.83 and a 1 year high of $540.00.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 21st. Investors of record on Monday, December 4th were paid a dividend of $2.50 per share. This represents a $10.00 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Friday, December 1st. BlackRock’s payout ratio is 46.82%.

In related news, Director Susan Wagner sold 4,000 shares of BlackRock stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $506.10, for a total transaction of $2,024,400.00. Following the transaction, the director now owns 481,915 shares of the company’s stock, valued at approximately $243,897,181.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeff A. Smith sold 100 shares of BlackRock stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $477.54, for a total transaction of $47,754.00. The disclosure for this sale can be found here. 1.86% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in BLK. Third Point LLC bought a new position in BlackRock in the second quarter valued at approximately $654,736,000. Capital World Investors lifted its stake in BlackRock by 12.9% in the second quarter. Capital World Investors now owns 7,105,319 shares of the asset manager’s stock valued at $3,001,358,000 after buying an additional 810,667 shares in the last quarter. Vanguard Group Inc. lifted its stake in BlackRock by 8.4% in the second quarter. Vanguard Group Inc. now owns 8,450,778 shares of the asset manager’s stock valued at $3,569,693,000 after buying an additional 656,569 shares in the last quarter. Principal Financial Group Inc. lifted its stake in BlackRock by 207.1% in the second quarter. Principal Financial Group Inc. now owns 527,380 shares of the asset manager’s stock valued at $222,771,000 after buying an additional 355,630 shares in the last quarter. Finally, BlackRock Inc. lifted its stake in BlackRock by 3.2% in the second quarter. BlackRock Inc. now owns 6,750,714 shares of the asset manager’s stock valued at $2,851,570,000 after buying an additional 209,209 shares in the last quarter. 83.54% of the stock is currently owned by hedge funds and other institutional investors.

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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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