Jefferies Financial Group Weighs in on BlackRock, Inc.’s Q2 2019 Earnings (NYSE:BLK)

BlackRock, Inc. (NYSE:BLK) – Research analysts at Jefferies Financial Group increased their Q2 2019 EPS estimates for BlackRock in a report released on Tuesday, July 9th. Jefferies Financial Group analyst D. Fannon now expects that the asset manager will post earnings of $6.91 per share for the quarter, up from their previous estimate of $6.89. Jefferies Financial Group also issued estimates for BlackRock’s Q3 2019 earnings at $7.24 EPS, Q4 2019 earnings at $7.36 EPS, FY2019 earnings at $28.11 EPS, Q1 2020 earnings at $7.03 EPS, Q2 2020 earnings at $7.59 EPS, Q3 2020 earnings at $7.84 EPS, Q4 2020 earnings at $8.26 EPS and FY2020 earnings at $30.72 EPS.

BLK has been the topic of a number of other research reports. Barclays set a $24.00 target price on Tenet Healthcare and gave the company a “hold” rating in a report on Wednesday, April 17th. Wells Fargo & Co reiterated a “buy” rating on shares of Morgan Stanley in a report on Wednesday, April 17th. Morgan Stanley dropped their price objective on Virtus Investment Partners from $121.00 to $118.00 and set an “equal weight” rating on the stock in a report on Tuesday. Zacks Investment Research downgraded GasLog Partners LP Unit from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 2nd. Finally, UBS Group increased their price objective on T. Rowe Price Group from $109.00 to $111.00 and gave the stock a “neutral” rating in a report on Monday. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $506.88.

Shares of BLK opened at $480.07 on Wednesday. The firm has a market cap of $73.84 billion, a P/E ratio of 17.83, a price-to-earnings-growth ratio of 1.72 and a beta of 1.52. BlackRock has a fifty-two week low of $360.79 and a fifty-two week high of $513.00. The company has a quick ratio of 3.49, a current ratio of 3.49 and a debt-to-equity ratio of 0.83. The firm has a 50-day simple moving average of $451.60.

BlackRock (NYSE:BLK) last posted its quarterly earnings data on Tuesday, April 16th. The asset manager reported $6.61 EPS for the quarter, beating analysts’ consensus estimates of $6.13 by $0.48. The company had revenue of $3.35 billion during the quarter, compared to analyst estimates of $3.30 billion. BlackRock had a net margin of 30.58% and a return on equity of 13.46%. The business’s quarterly revenue was down 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $6.48 earnings per share.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Thursday, June 6th were issued a $3.30 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $13.20 dividend on an annualized basis and a yield of 2.75%. BlackRock’s dividend payout ratio is currently 49.02%.

In other news, Chairman Laurence Fink sold 31,250 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $481.79, for a total value of $15,055,937.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jeff A. Smith sold 300 shares of the firm’s stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $468.22, for a total value of $140,466.00. The disclosure for this sale can be found here. Insiders sold 34,525 shares of company stock worth $16,591,075 in the last 90 days. 1.42% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Comerica Securities Inc. lifted its stake in BlackRock by 6.4% in the fourth quarter. Comerica Securities Inc. now owns 2,912 shares of the asset manager’s stock worth $1,144,000 after purchasing an additional 174 shares during the last quarter. Fiera Capital Corp grew its holdings in BlackRock by 26.2% in the fourth quarter. Fiera Capital Corp now owns 906 shares of the asset manager’s stock worth $356,000 after purchasing an additional 188 shares during the last quarter. Berman Capital Advisors LLC purchased a new stake in shares of BlackRock during the fourth quarter valued at $77,000. Natixis Advisors L.P. grew its holdings in shares of BlackRock by 30.9% during the fourth quarter. Natixis Advisors L.P. now owns 25,078 shares of the asset manager’s stock valued at $9,851,000 after buying an additional 5,919 shares during the last quarter. Finally, Granite Investment Partners LLC grew its holdings in shares of BlackRock by 10.4% during the fourth quarter. Granite Investment Partners LLC now owns 19,580 shares of the asset manager’s stock valued at $7,691,000 after buying an additional 1,837 shares during the last quarter. 81.29% of the stock is owned by institutional investors.

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.

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Earnings History and Estimates for BlackRock (NYSE:BLK)

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