Blackbaud, Inc. (NASDAQ:BLKB) Expected to Post Quarterly Sales of $219.65 Million

Wall Street brokerages forecast that Blackbaud, Inc. (NASDAQ:BLKB) will report $219.65 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Blackbaud’s earnings. The highest sales estimate is $221.30 million and the lowest is $216.00 million. Blackbaud reported sales of $209.53 million in the same quarter last year, which would suggest a positive year over year growth rate of 4.8%. The firm is scheduled to issue its next earnings report on Monday, November 4th.

On average, analysts expect that Blackbaud will report full year sales of $893.99 million for the current fiscal year, with estimates ranging from $887.00 million to $897.73 million. For the next financial year, analysts anticipate that the firm will post sales of $940.24 million, with estimates ranging from $927.00 million to $950.99 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Blackbaud.

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

A number of research firms recently weighed in on BLKB. Zacks Investment Research cut Blackbaud from a “strong-buy” rating to a “hold” rating and set a $101.00 price target on the stock. in a report on Wednesday, August 7th. ValuEngine cut Blackbaud from a “buy” rating to a “hold” rating in a report on Thursday. Bank of America restated an “underperform” rating and issued a $80.00 price target (up previously from $70.00) on shares of Blackbaud in a report on Thursday, August 1st. DA Davidson upped their price target on Blackbaud to $89.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, BidaskClub cut Blackbaud from a “buy” rating to a “hold” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $87.60.

In related news, Director Joyce Nelson sold 1,000 shares of Blackbaud stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $88.62, for a total value of $88,620.00. Following the completion of the transaction, the director now directly owns 12,051 shares in the company, valued at $1,067,959.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George H. Ellis sold 2,000 shares of Blackbaud stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $88.20, for a total value of $176,400.00. Following the completion of the transaction, the director now owns 4,404 shares of the company’s stock, valued at $388,432.80. The disclosure for this sale can be found here. 1.56% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. Parkside Financial Bank & Trust acquired a new position in Blackbaud in the second quarter valued at approximately $25,000. Advisory Services Network LLC raised its holdings in Blackbaud by 70.6% during the second quarter. Advisory Services Network LLC now owns 377 shares of the technology company’s stock worth $32,000 after purchasing an additional 156 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in Blackbaud during the second quarter worth approximately $77,000. Tower Research Capital LLC TRC raised its holdings in Blackbaud by 1,097.6% during the second quarter. Tower Research Capital LLC TRC now owns 1,473 shares of the technology company’s stock worth $123,000 after purchasing an additional 1,350 shares in the last quarter. Finally, Private Capital Group LLC raised its holdings in Blackbaud by 13.3% during the second quarter. Private Capital Group LLC now owns 1,250 shares of the technology company’s stock worth $128,000 after purchasing an additional 147 shares in the last quarter.

Shares of BLKB stock traded up $1.95 during trading hours on Friday, reaching $93.61. 8,397 shares of the company’s stock were exchanged, compared to its average volume of 206,322. The company has a market cap of $4.42 billion, a P/E ratio of 50.06, a price-to-earnings-growth ratio of 8.83 and a beta of 1.21. The company’s 50 day moving average is $90.78 and its two-hundred day moving average is $84.20. Blackbaud has a 1 year low of $58.23 and a 1 year high of $97.35. The company has a debt-to-equity ratio of 1.75, a current ratio of 0.76 and a quick ratio of 0.76.

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were paid a $0.12 dividend. The ex-dividend date was Tuesday, August 27th. This represents a $0.48 dividend on an annualized basis and a yield of 0.51%. Blackbaud’s dividend payout ratio (DPR) is 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.

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Earnings History and Estimates for Blackbaud (NASDAQ:BLKB)

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