BlackRock, Inc. (NYSE:BLK) will unveil its latest earnings on Wednesday, July 20, 2011. BlackRock, Inc.along with its subsidiaries provides investment management services to institutional clients and to individual investors through various investment vehicles.
BlackRock, Inc. Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average estimate of analysts is for net income of $2.93 per share, a rise of 23.6% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved up from $2.92. Between one and three months ago, the average estimate moved up, but has dropped from $3.01 during the last month. For the year, analysts are projecting profit of $12.88 per share, a rise of 17.7% from last year.
Past Earnings Performance: The company has beaten estimates the last four quarters and is coming off a quarter where it topped forecasts by 21 cents, reporting net income of $2.96 per share against a mean estimate of profit of $2.75 per share.
Wall St. Revenue Expectations: On average, analysts predict $2.34 billion in revenue this quarter, a rise of 15.3% from the year ago quarter. Analysts are forecasting total revenue of $9.73 billion for the year, a rise of 13% from last year’s revenue of $8.61 billion.
Analyst Ratings: Analysts are bullish on this stock with 12 analysts rating it as a buy, none rating it as a sell and one rating it as a hold.
The company has enjoyed double-digit year-over-year percentage revenue growth for the past four quarters. Over that span, the company has averaged growth of 57.9%, with the biggest boost coming in the third quarter of the last fiscal year when revenue rose 78.8% from the year earlier quarter.
The company has now seen net income rise in three straight quarters. In the first quarter, net income rose 34.3% while it rose more than twofold in the fourth quarter of the last fiscal year and 73.8% in the third quarter of the last fiscal year.
Competitors to Watch: Morgan Stanley (NYSE:MS), T. Rowe Price Group, Inc. (NASDAQ:TROW), American Intl. Group, Inc. (NYSE:AIG), Barclays PLC (NYSE:BCS), Bank of America Corp. (NYSE:BAC), Goldman Sachs Group, Inc. (NYSE:GS), Invesco Ltd. (NYSE:IVZ), UBS AG (NYSE:UBS), Affiliated Managers Group, Inc. (NYSE:AMG), and Franklin Resources, Inc. (NYSE:BEN).
Stock Price Performance: During July 8, 2011 to July 14, 2011, the stock price had dropped $13.18 (-6.7%) from $195.45 to $182.27. The stock price saw one of its best stretches over the last year between February 4, 2011 and February 15, 2011 when shares rose for eight-straight days, rising 5.8% (+$11.15) over that span. It saw one of its worst periods between April 1, 2011 and April 18, 2011 when shares fell for 12-straight days, falling 5.9% (-$11.80) over that span. Shares are down $5.69 (-3%) year to date.
(Source: Xignite Financials)
Get Actionable Investing Insights: Check Out Wall St. Cheat Sheet’s newest Feature Trades of the Month!