BlackRock's (BLK) Q2 Earnings Miss Estimates, Revenues Rise July 17, 2017

Andrew Cummings
July 17, 2017

JNBA Financial Advisors increased its position in shares of BlackRock by 0.4% in the first quarter. Eqis Capital Management Inc. now owns 609 shares of the asset manager's stock valued at $233,000 after buying an additional 3 shares in the last quarter. Finally, Bahl & Gaynor Inc. raised its position in shares of BlackRock by 1.9% in the first quarter. National Asset Management Inc. now owns 716 shares of the asset manager's stock valued at $275,000 after buying an additional 3 shares in the last quarter. "(NYSE:BLK)" was originally reported by Community Financial News and is the sole property of of Community Financial News.

The P/E ratio is 21.690 and the market cap of the company is 71.90B. Shares are trading at $441.39 which is slightly above $410.09, the 50 day moving average and which is just a bit higher than the 200 day moving average of $390.31.

Last time, the company failed Wall Street by reporting EPS of $4.76, smashing the consensus of $4.89 per share.


The company posted second-quarter adjusted earnings per share of $5.24 on revenue of $2.965 billion.

For the second quarter, net income attributable to BlackRock increased 9 percent to $857 million from last year's $789 million.

Revenues rose 5.7% from previous year to $2.96 billion, also missing analysts' view for $3.01 billion. During the same period in the prior year, the firm earned $4.25 EPS.


The NYSE-listed firm said that during the second quarter, its net profit rose to US$857mln, or US$5.22 a share, up from US$789mln, or US$4.73 a share, in the same period a year ago.

The company also recently announced a dividend for shareholders which was paid on Friday June 23rd, 2017. Investors of record on Monday, June 5th were paid a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date was Thursday, June 1st. BlackRock's dividend payout ratio (DPR) is presently 49.14%. If you are accessing this story on another domain, it was stolen and reposted in violation of USA and global trademark & copyright laws.

Sell-side analysts also have something to say about this BLK. Zacks Investment Research raised shares of BlackRock from a "hold" rating to a "buy" rating and set a $480.00 target price on the stock in a research note on Tuesday, June 20th. Jefferies Group LLC restated a "hold" rating and set a $387.00 price objective on shares of BlackRock in a research report on Wednesday, May 17th. Bank of America Corporation reissued a "buy" rating and set a $450.00 target price on shares of BlackRock in a research report on Monday, June 19th. Morgan Stanley reaffirmed a "buy" rating on shares of BlackRock in a research report on Saturday, March 18th. Finally, Wells Fargo & Company reiterated a "market perform" rating and issued a $425.00 price target (up from $380.00) on shares of BlackRock in a report on Wednesday, July 12th.


On October 14 Keefe Bruyette & Woods held the stock rating at "Equal-Weight" but moved up the price target from $360.00 to $378.00. The brokerage now has a "buy" rating on the asset manager's stock. Also, insider Mark Mccombe sold 500 shares of the stock in a transaction that occurred on Friday, May 26th. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The shares were sold on May 26th for an average price of $405.98. Following the completion of the transaction, the director now directly owns 484,386 shares in the company, valued at approximately $200,685,963.66. The disclosure for this sale can be found here. The biggest holder now is Laurence D. Fink who owns 1,090,185 shares (0.67% of those outstanding), whilst Ralph L. Schlosstein holds 600,935 (0.37% of shares outstanding) and Charles S. Hallac holds 551,506 (0.34% of shares outstanding).

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