FY2024 EPS Estimates for BlackRock Raised by Zacks Research

BlackRock, Inc. (NYSE:BLK) – Research analysts at Zacks Research increased their FY2024 earnings per share (EPS) estimates for shares of BlackRock in a research report issued to clients and investors on Wednesday, November 27th. Zacks Research analyst R. Department now forecasts that the asset manager will post earnings of $42.78 per share for the year, up from their prior estimate of $42.73. The consensus estimate for BlackRock’s current full-year earnings is $43.18 per share. Zacks Research also issued estimates for BlackRock’s Q4 2024 earnings at $11.15 EPS, Q1 2025 earnings at $10.79 EPS, Q2 2025 earnings at $11.27 EPS, Q3 2025 earnings at $11.70 EPS, Q4 2025 earnings at $13.23 EPS, FY2025 earnings at $47.00 EPS, Q2 2026 earnings at $13.18 EPS and Q3 2026 earnings at $12.86 EPS.

Several other research firms have also recently weighed in on BLK. The Goldman Sachs Group boosted their price target on BlackRock from $960.00 to $1,040.00 and gave the stock a “buy” rating in a report on Thursday, October 3rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of BlackRock from $1,105.00 to $1,133.00 and gave the company a “buy” rating in a research report on Monday, November 11th. StockNews.com began coverage on shares of BlackRock in a report on Friday, November 29th. They set a “hold” rating on the stock. Evercore ISI increased their price objective on BlackRock from $1,040.00 to $1,160.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Morgan Stanley lifted their target price on BlackRock from $1,150.00 to $1,245.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, BlackRock presently has an average rating of “Moderate Buy” and an average price target of $1,019.62.

BlackRock Trading Up 1.8 %

Shares of BLK opened at $1,038.53 on Monday. The firm has a market cap of $160.85 billion, a price-to-earnings ratio of 25.63, a PEG ratio of 1.82 and a beta of 1.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 5.06 and a current ratio of 5.06. The business’s fifty day moving average is $998.52 and its 200-day moving average is $891.90. BlackRock has a 52-week low of $742.22 and a 52-week high of $1,068.34.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 EPS for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period last year, the firm earned $10.91 earnings per share. The business’s revenue for the quarter was up 14.9% on a year-over-year basis.

BlackRock Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be given a $5.10 dividend. This represents a $20.40 annualized dividend and a dividend yield of 1.96%. The ex-dividend date of this dividend is Thursday, December 5th. BlackRock’s dividend payout ratio (DPR) is 50.35%.

Institutional Trading of BlackRock

Hedge funds have recently made changes to their positions in the stock. Oddo BHF Asset Management Sas bought a new stake in BlackRock in the 3rd quarter worth approximately $518,000. Tidal Investments LLC lifted its holdings in shares of BlackRock by 55.1% in the 3rd quarter. Tidal Investments LLC now owns 28,958 shares of the asset manager’s stock worth $27,496,000 after acquiring an additional 10,284 shares during the last quarter. Destination Wealth Management boosted its stake in shares of BlackRock by 6.6% in the 3rd quarter. Destination Wealth Management now owns 1,140 shares of the asset manager’s stock valued at $1,082,000 after purchasing an additional 71 shares in the last quarter. Wilmington Savings Fund Society FSB grew its holdings in shares of BlackRock by 36.9% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 7,429 shares of the asset manager’s stock valued at $7,054,000 after purchasing an additional 2,004 shares during the last quarter. Finally, Sfmg LLC raised its position in BlackRock by 1.7% in the 3rd quarter. Sfmg LLC now owns 5,048 shares of the asset manager’s stock worth $4,794,000 after purchasing an additional 84 shares during the period. 80.69% of the stock is owned by institutional investors.

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.