BlackRock (NYSE:BLK) announced its earnings results on Wednesday. The asset manager reported $10.18 earnings per share for the quarter, topping analysts’ consensus estimates of $9.14 by $1.04, MarketWatch Earnings reports. The business had revenue of $4.48 billion for the quarter, compared to analyst estimates of $4.28 billion. BlackRock had a return on equity of 14.91% and a net margin of 29.83%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned $8.34 EPS.
BLK traded down $15.49 on Friday, hitting $728.01. 64,904 shares of the company were exchanged, compared to its average volume of 760,578. The firm has a fifty day simple moving average of $716.12 and a two-hundred day simple moving average of $624.97. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.02 and a current ratio of 1.01. BlackRock has a 12 month low of $323.98 and a 12 month high of $788.00. The stock has a market capitalization of $111.03 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 2.34 and a beta of 1.16.
The business also recently declared a quarterly dividend, which was paid on Monday, December 21st. Investors of record on Friday, December 4th were given a dividend of $3.63 per share. The ex-dividend date of this dividend was Thursday, December 3rd. This represents a $14.52 annualized dividend and a yield of 1.99%. BlackRock’s payout ratio is 50.98%.
A number of brokerages have weighed in on BLK. Morgan Stanley upped their target price on BlackRock from $750.00 to $890.00 and gave the stock an “overweight” rating in a research note on Monday. Deutsche Bank Aktiengesellschaft upped their target price on BlackRock from $835.00 to $838.00 and gave the stock a “buy” rating in a research note on Friday. Barclays upped their target price on BlackRock from $800.00 to $850.00 and gave the stock an “overweight” rating in a research note on Friday. BMO Capital Markets increased their price objective on BlackRock from $709.00 to $715.00 and gave the company a “market perform” rating in a research report on Friday. Finally, Zacks Investment Research lowered BlackRock from a “buy” rating to a “hold” rating and set a $733.00 price objective on the stock. in a research report on Monday, December 21st. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $709.08.
In related news, Director Mark Wiedman sold 3,850 shares of the firm’s stock in a transaction that occurred on Monday, October 26th. The stock was sold at an average price of $626.47, for a total transaction of $2,411,909.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Christopher J. Meade sold 179 shares of the stock in a transaction that occurred on Tuesday, December 1st. The stock was sold at an average price of $710.50, for a total value of $127,179.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,018 shares of company stock worth $3,209,898. 1.42% of the stock is owned by corporate insiders.
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.
Recommended Story: What are economic reports?
Receive News & Ratings for BlackRock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BlackRock and related companies with MarketBeat.com's FREE daily email newsletter.