Analysts Anticipate Blackline Inc (NASDAQ:BL) to Post $0.03 EPS

Analysts predict that Blackline Inc (NASDAQ:BL) will post $0.03 earnings per share (EPS) for the current quarter, Zacks reports. Seven analysts have made estimates for Blackline’s earnings. The lowest EPS estimate is $0.03 and the highest is $0.04. Blackline reported earnings per share of $0.07 during the same quarter last year, which suggests a negative year-over-year growth rate of 57.1%. The company is expected to issue its next quarterly earnings results on Thursday, November 7th.

According to Zacks, analysts expect that Blackline will report full-year earnings of $0.24 per share for the current year, with EPS estimates ranging from $0.23 to $0.24. For the next financial year, analysts forecast that the business will post earnings of $0.32 per share, with EPS estimates ranging from $0.27 to $0.35. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Blackline.

Blackline (NASDAQ:BL) last issued its earnings results on Thursday, August 1st. The technology company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.04. Blackline had a negative return on equity of 4.05% and a negative net margin of 10.20%. The firm had revenue of $69.70 million for the quarter, compared to the consensus estimate of $67.74 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The business’s quarterly revenue was up 25.8% compared to the same quarter last year.

A number of research analysts have commented on BL shares. BidaskClub downgraded Blackline from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. ValuEngine cut Blackline from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Goldman Sachs Group cut Blackline from a “buy” rating to a “sell” rating and reduced their price target for the stock from $57.00 to $41.00 in a research report on Tuesday, July 2nd. KeyCorp boosted their price target on Blackline from $60.00 to $62.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Finally, Zacks Investment Research cut Blackline from a “buy” rating to a “hold” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the stock. Blackline presently has a consensus rating of “Hold” and a consensus price target of $53.00.

In other Blackline news, CFO Mark Partin sold 10,000 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $53.36, for a total value of $533,600.00. Following the completion of the sale, the chief financial officer now owns 65,140 shares of the company’s stock, valued at $3,475,870.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 49,500 shares of company stock valued at $2,653,195 in the last ninety days. Insiders own 15.77% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FTB Advisors Inc. lifted its position in shares of Blackline by 70.6% during the 1st quarter. FTB Advisors Inc. now owns 551 shares of the technology company’s stock worth $25,000 after purchasing an additional 228 shares during the last quarter. Aperio Group LLC bought a new position in Blackline during the second quarter valued at about $38,000. Icon Wealth Partners LLC bought a new position in Blackline during the first quarter valued at about $34,000. Tompkins Financial Corp bought a new position in Blackline during the second quarter valued at about $40,000. Finally, Captrust Financial Advisors increased its stake in Blackline by 183.0% during the second quarter. Captrust Financial Advisors now owns 1,016 shares of the technology company’s stock valued at $54,000 after acquiring an additional 657 shares during the period. 87.17% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ BL opened at $52.17 on Friday. The company has a 50-day moving average price of $50.36. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.04. Blackline has a one year low of $34.01 and a one year high of $58.11. The stock has a market capitalization of $2.91 billion, a P/E ratio of -200.65 and a beta of 0.87.

Blackline Company Profile

BlackLine, Inc provides financial accounting close solutions delivered primarily as Software as a Service in the United States and internationally. Its solutions enable its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, journal entry capabilities, and range of data matching capabilities.

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