BlackRock (NYSE:BLK) posted its earnings results on Tuesday. The asset manager reported $10.95 EPS for the quarter, beating the consensus estimate of $9.81 by $1.14, MarketWatch Earnings reports. BlackRock had a return on equity of 16.30% and a net margin of 30.39%. The company had revenue of $5.05 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the business earned $9.22 earnings per share. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis.
BlackRock stock traded up $13.08 during trading hours on Thursday, reaching $880.89. 11,408 shares of the company’s stock were exchanged, compared to its average volume of 583,632. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.45. The firm’s 50 day simple moving average is $895.01 and its 200 day simple moving average is $866.24. BlackRock has a twelve month low of $587.90 and a twelve month high of $959.89. The firm has a market capitalization of $134.07 billion, a PE ratio of 24.61, a PEG ratio of 2.40 and a beta of 1.15.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 22nd. Investors of record on Tuesday, September 7th were issued a $4.13 dividend. The ex-dividend date was Friday, September 3rd. This represents a $16.52 dividend on an annualized basis and a yield of 1.88%. BlackRock’s payout ratio is 48.85%.
A hedge fund recently raised its stake in BlackRock stock. Morgan Stanley lifted its stake in shares of BlackRock, Inc. (NYSE:BLK) by 1.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,323,967 shares of the asset manager’s stock after purchasing an additional 23,377 shares during the period. Morgan Stanley owned 1.53% of BlackRock worth $2,033,403,000 at the end of the most recent quarter. Institutional investors own 78.13% of the company’s stock.
BLK has been the subject of several recent research reports. Evercore ISI reiterated a “buy” rating and issued a $956.00 price target on shares of BlackRock in a research note on Thursday. UBS Group boosted their price target on BlackRock from $890.00 to $984.00 and gave the company a “buy” rating in a research note on Thursday, July 8th. Argus upped their target price on BlackRock from $950.00 to $975.00 and gave the stock a “buy” rating in a research note on Thursday, July 15th. Deutsche Bank Aktiengesellschaft cut their target price on BlackRock from $1,039.00 to $1,008.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Jefferies Financial Group upped their target price on BlackRock from $1,001.00 to $1,075.00 and gave the stock a “buy” rating in a research note on Tuesday, August 31st. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $952.93.
BlackRock, Inc engages in providing investment management, risk management, and advisory services for institutional and retail clients worldwide. Its products include single and multi-asset class portfolios investing in equities, fixed income, alternatives, and money market instruments. The company was founded by Ralph L.
Further Reading: What is the QQQ ETF?
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.