BlackRock (BLK) Releases Earnings Results, Misses Expectations By $-0.01 EPS

BlackRock (BLK) reported quarterly earnings results on Thursday, Jul-14-2016. The company reported $4.78 earnings per share for the quarter, missing the analyst consensus estimate by $-0.01. Analysts had a consensus of $4.79. The company posted revenue of $2804.00 million in the period, compared to analysts expectations of $2805.03 million. The company’s revenue was down -3.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.96 EPS.

Many Wall Street Analysts have commented on BlackRock. Shares were Reiterated by Deutsche Bank on Jun 16, 2016 to “Buy” and Lowered the Price Target to $ 363 from a previous price target of $386 .BlackRock was Upgraded by Citigroup to ” Buy” on Apr 19, 2016.

BlackRock opened for trading at $357.58 and hit $358.892 on the upside on Wednesday, eventually ending the session at $357.5, with a gain of 0.04% or 0.13 points. The heightened volatility saw the trading volume jump to 5,69,315 shares. Company has a market cap of $58,404 M.

In a different news, on Jun 3, 2016, Susan Wagner (director) sold 8,665 shares at $365.39 per share price. According to the SEC, on Jun 1, 2016, J. Richard Kushel (Senior Managing Director) sold 6,039 shares at $363.02 per share price. On May 11, 2016, Robert W Fairbairn (Senior Managing Director) sold 2,000 shares at $355.28 per share price, according to the Form-4 filing with the securities and exchange commission.

BlackRock Inc. is an investment management firm. The Company provides investment and risk management services to institutional and retail clients across the world. Its product offerings include single- and multi-asset class portfolios investing in equities fixed income alternatives and money market instruments. Products are offered directly and through intermediaries in a variety of vehicles including open-end and closed-end mutual funds iShares exchange-traded funds (ETFs) separate accounts collective investment funds and other pooled investment vehicles. The Company also offers its BlackRock Solutions investment and risk management technology platform Aladdin risk analytics and advisory services and solutions. It has $4.65 trillion of assets under management at December 31 2014.


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