BlackRock (NYSE:BLK – Get Free Report) released its quarterly earnings results on Wednesday. The asset manager reported $15.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $14.32 by $1.61, FiscalAI reports. BlackRock had a return on equity of 14.90% and a net margin of 24.09%. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.42 billion. During the same quarter in the prior year, the company posted $8.43 EPS.
BlackRock Stock Performance
NYSE:BLK opened at $1,068.07 on Wednesday. The firm’s 50-day moving average is $1,107.58 and its 200-day moving average is $1,060.27. The company has a market cap of $165.41 billion, a price-to-earnings ratio of 25.53, a PEG ratio of 1.22 and a beta of 1.41. The company has a debt-to-equity ratio of 0.33, a quick ratio of 3.59 and a current ratio of 3.59. BlackRock has a 52-week low of $917.39 and a 52-week high of $1,219.94.
BlackRock Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 22nd. Stockholders of record on Tuesday, September 8th were issued a dividend of $5.73 per share. The ex-dividend date was Tuesday, September 8th. This represents a $22.92 annualized dividend and a dividend yield of 2.1%. BlackRock’s payout ratio is presently 54.78%.
Key Stories Impacting BlackRock
- Positive Sentiment: BlackRock said assets under management grew 15% to nearly $15.5 trillion, expanding the company’s fee-generating base and highlighting continued demand for its ETFs, index products and broader investment offerings. BlackRock assets under management growth
- Positive Sentiment: Third-quarter profit increased as resilient financial markets boosted management fees, supporting the core earnings outlook for BLK. The company released its full results and supplemental materials before hosting an investor conference call. BlackRock profit and fee growth
- Positive Sentiment: BlackRock’s HPS Investment Partners agreed to form a majority-owned joint venture with Humana to manage nearly 150 CenterWell senior-care clinics. The deal broadens BlackRock’s private-market and infrastructure exposure and could create additional long-term fee opportunities. Humana and BlackRock clinic joint venture
- Neutral Sentiment: BlackRock expanded its product lineup with a new actively managed artificial-intelligence and technology ETF through the RBC iShares alliance, while funds managed by BlackRock participated in a $200 million financing for 3D-homebuilder Icon. These initiatives offer growth potential but are unlikely to materially affect near-term earnings. New iShares AI and technology ETF
- Negative Sentiment: BlackRock’s investment research unit became more constructive on short-term Treasuries and closed its longstanding U.S. stock overweight, signaling caution about equity valuations and potentially limiting near-term appetite for risk assets. BlackRock shifts toward short-term Treasuries
- Negative Sentiment: The iShares Bitcoin Trust recorded approximately $65.4 million in net outflows in the latest session, making it the only U.S. spot-Bitcoin ETF to report a withdrawal that day and raising concerns about crypto-related flows. IBIT Bitcoin ETF outflows
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. BNP Paribas Exane boosted their price objective on shares of BlackRock from $1,300.00 to $1,350.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 23rd. UBS Group lowered their target price on shares of BlackRock from $1,320.00 to $1,277.00 and set a “buy” rating on the stock in a research note on Wednesday, October 7th. BMO Capital Markets raised their target price on shares of BlackRock from $1,250.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Friday, July 17th. TD Cowen lifted their target price on shares of BlackRock from $1,190.00 to $1,212.00 and gave the stock a “hold” rating in a report on Monday. Finally, Zacks Research lowered shares of BlackRock from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. One research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $1,309.88.
Read Our Latest Stock Analysis on BlackRock
About BlackRock
BlackRock, Inc is a global investment management and financial technology company serving individual investors, institutions, governments and financial professionals. The company provides investment management, risk management and advisory services across a broad range of asset classes, including equities, fixed income, multi-asset strategies, alternatives and cash management.
BlackRock offers investment products through mutual funds, exchange-traded funds and other vehicles. Its iShares brand is one of the company’s principal platforms for exchange-traded funds, providing access to domestic and international markets, industry sectors, bonds, commodities and specialized investment strategies.
The company also provides technology and analytical solutions through its Aladdin platform, which is used by asset managers, institutional investors and other financial organizations for portfolio management, risk analysis, trading and operational support.
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