Brokerages Expect Blackbaud, Inc. (NASDAQ:BLKB) Will Post Earnings of $0.50 Per Share

Analysts forecast that Blackbaud, Inc. (NASDAQ:BLKB) will report earnings per share (EPS) of $0.50 for the current quarter, Zacks reports. Four analysts have issued estimates for Blackbaud’s earnings, with estimates ranging from $0.49 to $0.51. Blackbaud reported earnings per share of $0.59 in the same quarter last year, which would suggest a negative year-over-year growth rate of 15.3%. The company is scheduled to issue its next earnings results on Monday, November 4th.

On average, analysts expect that Blackbaud will report full year earnings of $2.22 per share for the current year, with EPS estimates ranging from $2.18 to $2.26. For the next financial year, analysts forecast that the company will report earnings of $2.41 per share, with EPS estimates ranging from $2.08 to $2.52. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Blackbaud.

Blackbaud (NASDAQ:BLKB) last announced its earnings results on Tuesday, July 30th. The technology company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.29 by $0.37. The firm had revenue of $226.40 million for the quarter, compared to the consensus estimate of $223.53 million. Blackbaud had a net margin of 3.04% and a return on equity of 20.51%. The business’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period last year, the company posted $0.69 EPS.

Several brokerages have commented on BLKB. Zacks Investment Research downgraded shares of Blackbaud from a “strong-buy” rating to a “hold” rating and set a $101.00 target price on the stock. in a report on Wednesday, August 7th. DA Davidson raised their target price on shares of Blackbaud to $89.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Bank of America restated an “underperform” rating and set a $80.00 target price (up from $70.00) on shares of Blackbaud in a report on Thursday, August 1st. BidaskClub upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Finally, ValuEngine upgraded shares of Blackbaud from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $91.71.

In other news, EVP Kevin W. Mooney sold 8,858 shares of Blackbaud stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $80.00, for a total value of $708,640.00. Following the sale, the executive vice president now directly owns 92,901 shares in the company, valued at $7,432,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy C. K. Chou sold 400 shares of Blackbaud stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $76.98, for a total transaction of $30,792.00. Following the completion of the sale, the director now owns 20,114 shares in the company, valued at $1,548,375.72. The disclosure for this sale can be found here. Insiders sold 12,258 shares of company stock worth $1,004,452 over the last quarter. 1.56% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of BLKB. Parkside Financial Bank & Trust bought a new position in shares of Blackbaud in the second quarter valued at $25,000. Advisory Services Network LLC grew its stake in shares of Blackbaud by 70.6% in the second quarter. Advisory Services Network LLC now owns 377 shares of the technology company’s stock valued at $32,000 after buying an additional 156 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new position in shares of Blackbaud in the second quarter valued at $77,000. Smithfield Trust Co. grew its stake in shares of Blackbaud by 2,407.5% in the first quarter. Smithfield Trust Co. now owns 1,003 shares of the technology company’s stock valued at $80,000 after buying an additional 963 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in shares of Blackbaud by 1,097.6% in the second quarter. Tower Research Capital LLC TRC now owns 1,473 shares of the technology company’s stock valued at $123,000 after buying an additional 1,350 shares in the last quarter.

BLKB stock traded up $2.49 during mid-day trading on Friday, hitting $93.27. 128,700 shares of the company were exchanged, compared to its average volume of 285,207. The company has a debt-to-equity ratio of 1.75, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a market cap of $4.59 billion, a P/E ratio of 49.88, a P/E/G ratio of 9.00 and a beta of 1.22. The firm’s 50 day simple moving average is $86.47 and its 200 day simple moving average is $80.22. Blackbaud has a 1-year low of $58.23 and a 1-year high of $105.69.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th will be issued a $0.12 dividend. The ex-dividend date is Tuesday, August 27th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.51%. Blackbaud’s dividend payout ratio (DPR) is presently 25.67%.

Blackbaud Company Profile

Blackbaud, Inc provides cloud software solutions to nonprofits, foundations, companies, education institutions, healthcare organizations, individual change agents, and other charitable giving entities. The company offers fundraising and relationship management solutions and services, including Blackbaud Raiser's Edge NXT, Blackbaud CRM, Blackbaud Luminate CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, everydayhero, Blackbaud Peer-to-Peer Fundraising, and Blackbaud Guided Fundraising; and marketing and engagement solutions, such as Blackbaud Luminate Online, Blackbaud Online Express, Blackbaud NetCommunity, Blackbaud Attentive.ly, and Blackbaud School Website System.

Featured Story: Buyback For Investors Defined

Get a free copy of the Zacks research report on Blackbaud (BLKB)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Blackbaud (NASDAQ:BLKB)

Receive News & Ratings for Blackbaud Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackbaud and related companies with MarketBeat.com's FREE daily email newsletter.