FY2024 EPS Estimates for BlackRock Raised by Zacks Research

BlackRock, Inc. (NYSE:BLK) – Stock analysts at Zacks Research upped their FY2024 earnings per share (EPS) estimates for shares of BlackRock in a report released 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 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.

Other research analysts have also recently issued research reports about the company. Barclays upped their target price on BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. TD Cowen lifted their target price on BlackRock from $960.00 to $1,077.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. StockNews.com initiated coverage on shares of BlackRock in a research report on Friday. They set a “hold” rating on the stock. Evercore ISI boosted their price target 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, Wells Fargo & Company raised their price objective on BlackRock from $1,000.00 to $1,070.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $1,019.62.

BlackRock Stock Performance

Shares of NYSE:BLK opened at $1,020.34 on Monday. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock has a 12 month low of $742.22 and a 12 month high of $1,068.34. The company has a market capitalization of $158.03 billion, a price-to-earnings ratio of 25.18, a PEG ratio of 1.82 and a beta of 1.30. The firm’s 50-day moving average is $994.93 and its 200 day moving average is $888.81.

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

Hedge Funds Weigh In On BlackRock

A number of large investors have recently added to or reduced their stakes in the company. Marino Stram & Associates LLC lifted its position in shares of BlackRock by 0.3% during the 3rd quarter. Marino Stram & Associates LLC now owns 3,399 shares of the asset manager’s stock worth $3,227,000 after buying an additional 10 shares during the last quarter. Onyx Bridge Wealth Group LLC raised its stake in BlackRock by 3.5% during the 3rd quarter. Onyx Bridge Wealth Group LLC now owns 328 shares of the asset manager’s stock worth $312,000 after acquiring an additional 11 shares in the last quarter. Ballentine Partners LLC lifted its position in BlackRock by 0.3% in the third quarter. Ballentine Partners LLC now owns 3,424 shares of the asset manager’s stock valued at $3,251,000 after acquiring an additional 11 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in BlackRock by 0.4% in the third quarter. Harbor Capital Advisors Inc. now owns 2,979 shares of the asset manager’s stock valued at $2,829,000 after acquiring an additional 11 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings in shares of BlackRock by 0.7% during the third quarter. Venturi Wealth Management LLC now owns 1,524 shares of the asset manager’s stock worth $1,447,000 after purchasing an additional 11 shares during the last quarter. 80.69% of the stock is currently owned by institutional investors.

BlackRock Announces Dividend

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 dividend of $5.10 per share. This represents a $20.40 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Thursday, December 5th. BlackRock’s payout ratio is currently 50.35%.

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.