BlackRock (NYSE:BLK) Releases Earnings Results, Beats Expectations By $0.27 EPS

BlackRock (NYSE:BLK) released its earnings results on Friday. The asset manager reported $10.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.15 by $0.27, MarketWatch Earnings reports. BlackRock had a return on equity of 16.72% and a net margin of 30.97%. The business had revenue of $5.11 billion for the quarter, compared to the consensus estimate of $5.15 billion. During the same quarter in the previous year, the business earned $10.18 earnings per share. BlackRock’s quarterly revenue was up 14.0% on a year-over-year basis.

BLK stock opened at $848.60 on Friday. BlackRock has a 52-week low of $670.28 and a 52-week high of $973.16. The company has a quick ratio of 3.04, a current ratio of 3.04 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $128.92 billion, a PE ratio of 22.57, a P/E/G ratio of 1.80 and a beta of 1.17. The stock’s 50 day moving average is $916.55 and its two-hundred day moving average is $903.12.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 23rd. Stockholders of record on Tuesday, December 7th were paid a $4.13 dividend. This represents a $16.52 annualized dividend and a dividend yield of 1.95%. The ex-dividend date was Monday, December 6th. BlackRock’s dividend payout ratio is currently 43.94%.

BLK has been the subject of a number of recent research reports. Evercore ISI restated a “buy” rating and issued a $956.00 price objective on shares of BlackRock in a report on Thursday, October 14th. BMO Capital Markets cut their price target on shares of BlackRock from $797.00 to $794.00 and set a “market perform” rating on the stock in a research report on Thursday, October 14th. Citigroup upped their price target on shares of BlackRock from $1,030.00 to $1,035.00 and gave the company a “buy” rating in a research report on Thursday, October 14th. Morgan Stanley increased their price objective on shares of BlackRock from $1,026.00 to $1,051.00 and gave the stock an “overweight” rating in a research report on Friday, January 7th. Finally, Bank of America began coverage on shares of BlackRock in a research note on Thursday, December 16th. They issued a “buy” rating for the company. One investment analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $987.71.

In other news, CEO Laurence Fink sold 16,365 shares of the firm’s stock in a transaction on Thursday, December 2nd. The stock was sold at an average price of $920.92, for a total value of $15,070,855.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director J. Richard Kushel sold 405 shares of BlackRock stock in a transaction dated Monday, November 8th. The shares were sold at an average price of $964.45, for a total value of $390,602.25. The disclosure for this sale can be found here. Insiders have sold a total of 39,017 shares of company stock valued at $36,055,061 in the last 90 days. Insiders own 1.16% of the company’s stock.

A hedge fund recently raised its stake in BlackRock stock. Morgan Stanley raised its position in BlackRock, Inc. (NYSE:BLK) by 1.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,323,967 shares of the asset manager’s stock after acquiring an additional 23,377 shares during the quarter. Morgan Stanley owned approximately 1.53% of BlackRock worth $2,033,403,000 at the end of the most recent quarter. Institutional investors and hedge funds own 77.94% of the company’s stock.

About BlackRock

BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.

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Earnings History for BlackRock (NYSE:BLK)

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