BlackRock (NYSE:BLK) issued its quarterly earnings data on Tuesday. The asset manager reported $7.52 EPS for the quarter, beating the consensus estimate of $6.93 by $0.59, MarketWatch Earnings reports. The company had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.65 billion. BlackRock had a net margin of 38.97% and a return on equity of 13.20%. BlackRock’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $5.76 earnings per share.
BLK stock opened at $411.85 on Thursday. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.87 and a quick ratio of 3.87. BlackRock has a one year low of $402.59 and a one year high of $594.52. The company has a market capitalization of $75.22 billion, a price-to-earnings ratio of 18.22, a P/E/G ratio of 1.46 and a beta of 1.55.
In related news, Director William E. Ford purchased 1,000 shares of the business’s stock in a transaction on Thursday, August 2nd. The stock was acquired at an average price of $467.92 per share, with a total value of $467,920.00. Following the purchase, the director now directly owns 5,400 shares in the company, valued at $2,526,768. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 1.75% of the stock is owned by insiders.
Several brokerages recently commented on BLK. Argus reduced their price objective on shares of BlackRock from $620.00 to $535.00 and set a “buy” rating for the company in a research note on Wednesday. Citigroup cut their price target on shares of BlackRock to $500.00 and set a “buy” rating for the company in a research note on Wednesday. Goldman Sachs Group cut shares of BlackRock from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday. Wells Fargo & Co reissued a “hold” rating and issued a $440.00 price target (down previously from $510.00) on shares of BlackRock in a research note on Tuesday. Finally, ValuEngine cut shares of BlackRock from a “hold” rating to a “sell” rating in a research note on Friday, October 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $569.08.
BlackRock Company Profile
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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