BlackRock (BLK) Releases Earnings Results, Beats Expectations By $0.15 EPS

BlackRock (BLK) announced its most recent quarterly financial results on Tuesday, Oct-18-2016. BLK said it had a profit of $5.14 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.15. Analysts had a consensus of $4.99. The company posted revenue of $2837.00 million in the period, compared to analysts expectations of $2893.96 million. BLK’s revenue was down -2.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.00 EPS.

Many Wall Street Analysts have commented on BlackRock. Company shares were Reiterated by Deutsche Bank on Sep 9, 2016 to “Buy”, Firm has raised the Price Target to $ 414 from a previous price target of $404 .

BlackRock opened for trading at $354.8 and hit $357.27 on the upside on Friday, eventually ending the session at $354.91, with a gain of 1.59% or 5.57 points. The heightened volatility saw the trading volume jump to 7,90,278 shares. Company has a market cap of $57,736 M.

In a different news, on Aug 31, 2016, Mark Mccombe (Senior Managing Director) sold 1,400 shares at $374.92 per share price. According to the SEC, on Aug 31, 2016, James Grosfeld (director) sold 38,379 shares at $375.18 per share price. On Aug 9, 2016, Susan Wagner (director) sold 13,076 shares at $373.09 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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