BlackRock (BLK) Announces Quarterly Earnings Results, Beats Estimates By $0.59 EPS

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.

Institutional investors and hedge funds have recently made changes to their positions in the company. Soros Fund Management LLC lifted its holdings in shares of BlackRock by 59.8% in the 2nd quarter. Soros Fund Management LLC now owns 12,983 shares of the asset manager’s stock worth $6,479,000 after acquiring an additional 4,858 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. lifted its holdings in shares of BlackRock by 2.8% in the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 7,293 shares of the asset manager’s stock worth $3,639,000 after acquiring an additional 200 shares during the last quarter. MUFG Americas Holdings Corp lifted its holdings in shares of BlackRock by 1.5% in the 2nd quarter. MUFG Americas Holdings Corp now owns 16,441 shares of the asset manager’s stock worth $8,205,000 after acquiring an additional 249 shares during the last quarter. Davy Asset Management Ltd bought a new stake in shares of BlackRock in the 2nd quarter worth approximately $858,000. Finally, US Bancorp DE lifted its holdings in shares of BlackRock by 0.5% in the 2nd quarter. US Bancorp DE now owns 94,365 shares of the asset manager’s stock worth $47,092,000 after acquiring an additional 470 shares during the last quarter. Hedge funds and other institutional investors own 82.80% of the company’s stock.

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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Earnings History for BlackRock (NYSE:BLK)

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