Zacks Research Weighs in on BlackRock, Inc.’s Q3 2024 Earnings (NYSE:BLK)

BlackRock, Inc. (NYSE:BLK) – Research analysts at Zacks Research raised their Q3 2024 EPS estimates for BlackRock in a report released on Monday, September 16th. Zacks Research analyst R. Department now expects that the asset manager will post earnings per share of $9.96 for the quarter, up from their previous forecast of $9.91. The consensus estimate for BlackRock’s current full-year earnings is $41.34 per share. Zacks Research also issued estimates for BlackRock’s Q4 2024 earnings at $10.78 EPS, FY2024 earnings at $40.90 EPS, Q3 2025 earnings at $11.18 EPS, Q4 2025 earnings at $12.22 EPS, FY2025 earnings at $44.69 EPS, Q1 2026 earnings at $12.43 EPS, Q2 2026 earnings at $12.49 EPS and FY2026 earnings at $51.37 EPS.

BlackRock (NYSE:BLK) last announced its quarterly earnings data on Monday, July 15th. The asset manager reported $10.36 earnings per share for the quarter, beating analysts’ consensus estimates of $9.96 by $0.40. The business had revenue of $4.81 billion for the quarter, compared to analyst estimates of $4.85 billion. BlackRock had a net margin of 32.36% and a return on equity of 15.44%. The company’s revenue was up 7.7% on a year-over-year basis. During the same period last year, the business earned $9.28 EPS.

Several other equities research analysts have also weighed in on BLK. TD Cowen cut their target price on BlackRock from $974.00 to $969.00 and set a “buy” rating on the stock in a research report on Monday, July 8th. Argus boosted their price objective on shares of BlackRock from $880.00 to $910.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Evercore ISI increased their target price on shares of BlackRock from $920.00 to $945.00 and gave the company an “outperform” rating in a research report on Thursday, September 5th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of BlackRock from $912.00 to $937.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Finally, Citigroup raised their price objective on BlackRock from $920.00 to $930.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $902.13.

BlackRock Stock Up 2.1 %

BlackRock stock opened at $923.31 on Thursday. The stock’s fifty day moving average is $864.35 and its two-hundred day moving average is $816.48. The stock has a market cap of $137.20 billion, a PE ratio of 23.46, a P/E/G ratio of 1.92 and a beta of 1.30. BlackRock has a 1-year low of $596.18 and a 1-year high of $930.50. The company has a debt-to-equity ratio of 0.37, a current ratio of 5.06 and a quick ratio of 5.06.

BlackRock Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 23rd. Shareholders of record on Monday, September 9th will be paid a $5.10 dividend. The ex-dividend date of this dividend is Monday, September 9th. This represents a $20.40 annualized dividend and a dividend yield of 2.21%. BlackRock’s dividend payout ratio (DPR) is currently 51.84%.

Insider Activity

In related news, Director Mark Wiedman sold 12,000 shares of BlackRock stock in a transaction on Friday, August 30th. The shares were sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Pamela Daley sold 1,531 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $842.08, for a total value of $1,289,224.48. Following the completion of the sale, the director now directly owns 5,732 shares of the company’s stock, valued at approximately $4,826,802.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark Wiedman sold 12,000 shares of the company’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $900.00, for a total value of $10,800,000.00. Following the transaction, the director now directly owns 6,480 shares in the company, valued at approximately $5,832,000. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 93,042 shares of company stock valued at $79,387,117. Company insiders own 0.90% of the company’s stock.

Institutional Investors Weigh In On BlackRock

Several institutional investors have recently made changes to their positions in BLK. Gilbert & Cook Inc. grew its position in BlackRock by 4.8% during the fourth quarter. Gilbert & Cook Inc. now owns 1,366 shares of the asset manager’s stock worth $1,109,000 after buying an additional 62 shares during the period. Gryphon Financial Partners LLC purchased a new position in BlackRock in the 4th quarter valued at approximately $354,000. TrinityPoint Wealth LLC raised its holdings in BlackRock by 3.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 1,380 shares of the asset manager’s stock worth $1,120,000 after purchasing an additional 51 shares during the last quarter. D.A. Davidson & CO. boosted its position in BlackRock by 5.8% during the fourth quarter. D.A. Davidson & CO. now owns 5,979 shares of the asset manager’s stock worth $4,854,000 after purchasing an additional 330 shares in the last quarter. Finally, Assetmark Inc. grew its holdings in BlackRock by 7.0% in the fourth quarter. Assetmark Inc. now owns 18,296 shares of the asset manager’s stock valued at $14,853,000 after purchasing an additional 1,203 shares during the last quarter. 80.69% of the stock is currently owned by hedge funds and other institutional investors.

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.