BlackRock (NYSE:BLK) Issues Quarterly Earnings Results

Posted by Lisa Pomrenke on Jan 14th, 2021

BlackRock (NYSE:BLK) issued its quarterly earnings results on Thursday. The asset manager reported $10.18 EPS for the quarter, beating analysts’ consensus estimates of $9.14 by $1.04, MarketWatch Earnings reports. BlackRock had a return on equity of 14.91% and a net margin of 29.83%. The company had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.28 billion. During the same period in the previous year, the company posted $8.34 earnings per share. The company’s quarterly revenue was up 12.6% compared to the same quarter last year.

NYSE BLK opened at $743.50 on Friday. The company has a market capitalization of $113.39 billion, a price-to-earnings ratio of 24.65, a PEG ratio of 2.34 and a beta of 1.16. BlackRock has a twelve month low of $323.98 and a twelve month high of $788.00. The stock has a fifty day simple moving average of $716.12 and a 200 day simple moving average of $624.97. The company has a quick ratio of 1.02, a current ratio of 1.01 and a debt-to-equity ratio of 0.45.

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 21st. Investors of record on Friday, December 4th were issued a $3.63 dividend. The ex-dividend date of this dividend was Thursday, December 3rd. This represents a $14.52 dividend on an annualized basis and a yield of 1.95%. BlackRock’s payout ratio is 50.98%.

Several analysts recently issued reports on the company. Citigroup upped their target price on BlackRock from $690.00 to $800.00 and gave the stock a “buy” rating in a report on Wednesday, October 14th. BMO Capital Markets boosted their price target on BlackRock from $594.00 to $602.00 and gave the stock a “market perform” rating in a research report on Thursday, October 15th. They noted that the move was a valuation call. Wells Fargo & Company upped their target price on BlackRock from $700.00 to $805.00 and gave the company an “overweight” rating in a research report on Wednesday, December 30th. Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $795.00 to $802.00 and gave the company a “buy” rating in a research report on Friday, December 18th. Finally, Barclays upped their target price on BlackRock from $625.00 to $700.00 in a research report on Wednesday, October 14th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. BlackRock currently has an average rating of “Buy” and a consensus target price of $684.17.

In related news, Director Mark Wiedman sold 290 shares of the firm’s stock in a transaction dated Wednesday, November 25th. The shares were sold at an average price of $698.71, for a total value of $202,625.90. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, General Counsel Christopher J. Meade sold 699 shares of the firm’s stock in a transaction dated Wednesday, November 11th. The shares were sold at an average price of $669.79, for a total transaction of $468,183.21. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,018 shares of company stock valued at $3,209,898. Company insiders own 1.42% of the company’s stock.

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.

BlackRock (NYSE:BLK) Issues Quarterly Earnings Results

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