Brokerages Expect Blackbaud, Inc. (NASDAQ:BLKB) Will Post Earnings of $0.64 Per Share


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Equities analysts expect that Blackbaud, Inc. (NASDAQ:BLKB) will report earnings per share of $0.64 for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Blackbaud’s earnings, with the lowest EPS estimate coming in at $0.57 and the highest estimate coming in at $0.66. Blackbaud posted earnings of $0.51 per share during the same quarter last year, which would indicate a positive year over year growth rate of 25.5%. The business is expected to announce its next quarterly earnings results on Tuesday, May 4th.

According to Zacks, analysts expect that Blackbaud will report full year earnings of $2.71 per share for the current fiscal year, with EPS estimates ranging from $2.65 to $2.79. For the next year, analysts forecast that the business will post earnings of $2.93 per share, with EPS estimates ranging from $2.77 to $3.04. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that follow Blackbaud.

Blackbaud (NASDAQ:BLKB) last released its quarterly earnings data on Sunday, February 7th. The technology company reported $0.85 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.14. Blackbaud had a net margin of 2.49% and a return on equity of 17.03%. The firm had revenue of $242.61 million for the quarter, compared to the consensus estimate of $228.41 million. During the same period last year, the firm earned $0.51 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis.

Several equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Blackbaud from a “hold” rating to a “sell” rating and set a $84.00 target price for the company. in a research note on Thursday, February 11th. Benchmark upgraded shares of Blackbaud from a “hold” rating to a “buy” rating and set a $88.00 target price for the company in a research note on Wednesday, February 10th. Finally, DA Davidson raised their target price on shares of Blackbaud from $56.00 to $75.00 and gave the company a “neutral” rating in a research note on Wednesday, February 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $81.75.

Shares of NASDAQ BLKB traded down $0.90 during midday trading on Tuesday, reaching $71.30. 8,980 shares of the company’s stock traded hands, compared to its average volume of 383,245. The company has a quick ratio of 0.67, a current ratio of 0.67 and a debt-to-equity ratio of 1.13. The stock’s 50 day simple moving average is $67.60 and its 200-day simple moving average is $60.17. Blackbaud has a one year low of $38.22 and a one year high of $80.00. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 153.62, a P/E/G ratio of 7.76 and a beta of 1.20.

In other news, insider Kevin Mcdearis sold 8,000 shares of Blackbaud stock in a transaction on Wednesday, February 17th. The shares were sold at an average price of $71.34, for a total transaction of $570,720.00. Following the completion of the sale, the insider now directly owns 94,154 shares in the company, valued at $6,716,946.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.33% of the company’s stock.

Several large investors have recently bought and sold shares of BLKB. Steward Partners Investment Advisory LLC increased its holdings in Blackbaud by 43.6% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 474 shares of the technology company’s stock valued at $27,000 after buying an additional 144 shares in the last quarter. Mackay Shields LLC increased its stake in shares of Blackbaud by 1.6% during the third quarter. Mackay Shields LLC now owns 18,887 shares of the technology company’s stock worth $1,055,000 after purchasing an additional 300 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Blackbaud by 5.3% during the fourth quarter. Victory Capital Management Inc. now owns 6,145 shares of the technology company’s stock worth $354,000 after purchasing an additional 312 shares in the last quarter. Johnson Investment Counsel Inc. increased its stake in shares of Blackbaud by 2.0% during the third quarter. Johnson Investment Counsel Inc. now owns 18,851 shares of the technology company’s stock worth $1,052,000 after purchasing an additional 361 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in shares of Blackbaud by 0.5% during the third quarter. California State Teachers Retirement System now owns 75,057 shares of the technology company’s stock worth $4,190,000 after purchasing an additional 374 shares in the last quarter. Institutional investors and hedge funds own 95.89% of the company’s stock.

Blackbaud Company Profile

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

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