Wall Street analysts forecast that BlackRock, Inc. (NYSE:BLK) will announce sales of $3.60 billion for the current quarter, Zacks reports. Three analysts have provided estimates for BlackRock’s earnings. The highest sales estimate is $3.61 billion and the lowest is $3.59 billion. BlackRock posted sales of $2.97 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 21.2%. The firm is expected to announce its next quarterly earnings report on Monday, July 16th.

According to Zacks, analysts expect that BlackRock will report full year sales of $14.91 billion for the current financial year, with estimates ranging from $14.85 billion to $14.93 billion. For the next financial year, analysts expect that the business will post sales of $16.05 billion per share, with estimates ranging from $15.78 billion to $16.22 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for BlackRock.

BlackRock (NYSE:BLK) last issued its quarterly earnings data on Thursday, April 12th. The asset manager reported $6.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $6.39 by $0.31. BlackRock had a return on equity of 12.76% and a net margin of 39.22%. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter last year, the business posted $5.25 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year.

A number of equities research analysts have weighed in on BLK shares. Credit Suisse Group raised their price target on BlackRock from $678.00 to $682.00 and gave the company an “outperform” rating in a research report on Friday, April 13th. Zacks Investment Research raised BlackRock from a “sell” rating to a “hold” rating in a research note on Thursday, March 29th. ValuEngine cut BlackRock from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Deutsche Bank reduced their price objective on BlackRock to $623.00 and set a “buy” rating on the stock in a research note on Tuesday, March 6th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $640.00 price objective on shares of BlackRock in a research note on Wednesday, March 14th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. BlackRock currently has an average rating of “Buy” and a consensus price target of $566.62.

In other news, insider Jeff A. Smith sold 500 shares of BlackRock stock in a transaction that occurred on Tuesday, April 24th. The shares were sold at an average price of $515.84, for a total transaction of $257,920.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William E. Ford bought 1,000 shares of the stock in a transaction dated Wednesday, May 9th. The shares were acquired at an average price of $530.95 per share, with a total value of $530,950.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 1,066 shares of company stock worth $558,514. Insiders own 1.86% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Bank of The West raised its holdings in BlackRock by 3.8% in the 1st quarter. Bank of The West now owns 2,604 shares of the asset manager’s stock worth $1,411,000 after acquiring an additional 96 shares during the last quarter. Pekin Singer Strauss Asset Management IL raised its holdings in BlackRock by 20.9% in the 1st quarter. Pekin Singer Strauss Asset Management IL now owns 578 shares of the asset manager’s stock worth $313,000 after acquiring an additional 100 shares during the last quarter. Assetmark Inc. raised its holdings in BlackRock by 57.1% in the 4th quarter. Assetmark Inc. now owns 278 shares of the asset manager’s stock worth $143,000 after acquiring an additional 101 shares during the last quarter. HM Payson & Co. raised its holdings in BlackRock by 11.5% in the 1st quarter. HM Payson & Co. now owns 982 shares of the asset manager’s stock worth $532,000 after acquiring an additional 101 shares during the last quarter. Finally, Good Life Advisors LLC raised its holdings in BlackRock by 22.1% in the 4th quarter. Good Life Advisors LLC now owns 563 shares of the asset manager’s stock worth $300,000 after acquiring an additional 102 shares during the last quarter. Hedge funds and other institutional investors own 83.36% of the company’s stock.

Shares of BLK stock opened at $534.23 on Friday. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 1.02. BlackRock has a 52-week low of $404.74 and a 52-week high of $594.52. The firm has a market capitalization of $83.97 billion, a P/E ratio of 23.64, a price-to-earnings-growth ratio of 1.58 and a beta of 1.67.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 21st. Shareholders of record on Thursday, June 7th will be given a dividend of $2.88 per share. The ex-dividend date is Wednesday, June 6th. This represents a $11.52 annualized dividend and a yield of 2.16%. BlackRock’s payout ratio is 50.97%.

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.

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Earnings History and Estimates for BlackRock (NYSE:BLK)

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