Zacks Research Predicts Increased Earnings for BlackRock

BlackRock, Inc. (NYSE:BLK) – Investment analysts at Zacks Research raised their FY2024 EPS estimates for BlackRock in a report issued on Wednesday, November 27th. Zacks Research analyst R. Department now anticipates that the asset manager will post earnings of $42.78 per share for the year, up from their previous forecast 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.

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

A number of other research analysts also recently weighed in on BLK. Barclays increased their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company raised their price target on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group upped their price objective on BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. boosted their price target on BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research note on Monday, October 21st. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of BlackRock from $1,105.00 to $1,133.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $1,019.62.

BlackRock Price Performance

BLK opened at $1,038.53 on Monday. The company’s 50-day simple moving average is $998.52 and its two-hundred day simple moving average is $891.90. BlackRock has a 52-week low of $742.22 and a 52-week high of $1,068.34. The stock has a market capitalization of $160.85 billion, a P/E ratio of 25.63, a P/E/G 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.

BlackRock Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 23rd. Investors of record on Thursday, December 5th will be issued a $5.10 dividend. This represents a $20.40 annualized dividend and a yield of 1.96%. The ex-dividend date is Thursday, December 5th. BlackRock’s dividend payout ratio is currently 50.35%.

Institutional Investors Weigh In On BlackRock

A number of institutional investors have recently bought and sold shares of the business. Mather Group LLC. boosted its stake in BlackRock by 9.8% in the 2nd quarter. Mather Group LLC. now owns 1,469 shares of the asset manager’s stock worth $1,225,000 after purchasing an additional 131 shares during the period. Olistico Wealth LLC purchased a new position in shares of BlackRock during the second quarter valued at about $53,000. Kingswood Wealth Advisors LLC raised its holdings in shares of BlackRock by 14.2% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 795 shares of the asset manager’s stock worth $626,000 after acquiring an additional 99 shares in the last quarter. Park Avenue Securities LLC raised its stake in BlackRock by 7.2% during the second quarter. Park Avenue Securities LLC now owns 9,575 shares of the asset manager’s stock valued at $7,539,000 after purchasing an additional 647 shares in the last quarter. Finally, Somerset Trust Co lifted its holdings in shares of BlackRock by 1.4% in the 2nd quarter. Somerset Trust Co now owns 4,255 shares of the asset manager’s stock valued at $3,350,000 after acquiring an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 80.69% of the company’s stock.

About BlackRock

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.