BlackRock Set to Announce Q4 Earnings Amid Strong Growth
As it approaches its earnings announcement, BlackRock, Inc. (BLK) maintains a market cap of $159.1 billion, solidifying its position as a top global investment management firm. Based in New York City, BlackRock serves a wide range of investors, managing diverse portfolios while offering risk management and innovative investment strategies. The firm is set to publish its fiscal Q4 earnings on Friday, January 10.
Analysts Predict Strong Earnings Growth
Analysts anticipate that BlackRock will report a profit of $11.42 per share, marking an increase of 18.2% compared to $9.66 per share from the same quarter last year. Impressively, the company has performed above Wall Street’s bottom-line estimates for the past four quarters. In the latest quarter, BlackRock outpaced the consensus EPS estimate by nearly 10%.
Looking Ahead: Fiscal 2024 and 2025
For fiscal 2024, projections suggest that BLK will achieve an EPS of $43.01, which reflects a growth of 13.9% from $37.77 in fiscal 2023. Analysts expect further growth into fiscal 2025, forecasting an 11.4% year-over-year increase to $47.93.
Market Performance and Recent Gains
Year-to-date, BLK has increased by 26.6%, outperforming the S&P 500 Index’s ($SPX) 23.8% rise. However, it has not kept pace with the Financial Select Sector SPDR Fund’s (XLF) 28.7% return during the same timeframe.
Strong Q3 Earnings Fuel Investor Confidence
On October 11, shares of BlackRock rose by 3.6% following its strong Q3 2024 earnings report, which exceeded analysts’ expectations. The adjusted earnings per share reached $11.46, while revenue was reported at $5.2 billion. The firm’s assets under management (AUM) soared to a record $11.5 trillion, supported by $160 billion in long-term net inflows and overall market growth. Additionally, positive investor sentiment was further reinforced by BlackRock’s disciplined capital management, which included $375 million in share repurchases during the quarter.
Analysts Remain Bullish on BlackRock’s Stock
The consensus rating among analysts for BlackRock’s stock is decidedly optimistic, with an overall “Strong Buy” rating. Out of 18 analysts, 14 recommend “Strong Buys,” while two suggest “Moderate Buys” and two recommend “Holds.” Currently, BLK trades below the average analyst price target of $1,134.69.
On the date of publication, Sohini Mondal did not hold (either directly or indirectly) positions in any of the securities mentioned in this article. All information provided is for informational purposes only. Please refer to the Barchart Disclosure Policy for further details.
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