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Have you been eager to see how BlackRock, Inc. (BLK - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based investment management company’s earnings release this morning:
An Earnings Beat
BlackRock came out with adjusted earnings per share of $6.70, beating the Zacks Consensus Estimate of $6.42.
Higher-than-expected earnings were primarily driven by improvement in revenues.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for BlackRock depicted bearish trend prior to the earnings release. The Zacks Consensus Estimate has moved nearly 1% lower over the last 7 days.
Before posting earnings beat in Q1, the company delivered positive surprises in three of the trailing four quarters.
As a result, the company overall surpassed the Zacks Consensus Estimate by an average of 3.1% in the trailing four quarters.
Revenue Came In Higher-than-Expected
BlackRock posted revenues (on GAAP basis) of $3.58 billion, surpassing with the Zacks Consensus Estimate of $3.28 billion. The reported figure was up from 16% from the year-ago quarter.
Key Stats
Assets under management of $6.32 trillion as of Mar 31, 2018, up 17% year over year
Long-term inflows of $54.6 billion in the quarter
Share repurchase worth $355 million during the quarter
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for BlackRock. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this BlackRock earnings report!
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It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
Image: Bigstock
BlackRock's (BLK) Q1 Earnings & Revenues Surpass Estimates
Have you been eager to see how BlackRock, Inc. (BLK - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based investment management company’s earnings release this morning:
An Earnings Beat
BlackRock came out with adjusted earnings per share of $6.70, beating the Zacks Consensus Estimate of $6.42.
Higher-than-expected earnings were primarily driven by improvement in revenues.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for BlackRock depicted bearish trend prior to the earnings release. The Zacks Consensus Estimate has moved nearly 1% lower over the last 7 days.
Before posting earnings beat in Q1, the company delivered positive surprises in three of the trailing four quarters.
BlackRock, Inc. Price and EPS Surprise
BlackRock, Inc. Price and EPS Surprise | BlackRock, Inc. Quote
As a result, the company overall surpassed the Zacks Consensus Estimate by an average of 3.1% in the trailing four quarters.
Revenue Came In Higher-than-Expected
BlackRock posted revenues (on GAAP basis) of $3.58 billion, surpassing with the Zacks Consensus Estimate of $3.28 billion. The reported figure was up from 16% from the year-ago quarter.
Key Stats
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for BlackRock. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this BlackRock earnings report!
Today's Stocks from Zacks' Hottest Strategies
It's hard to believe, even for us at Zacks. But while the market gained +21.9% in 2017, our top stock-picking screens have returned +115.0%, +109.3%, +104.9%, +98.6%, and +67.1%.
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - 2017, the composite yearly average gain for these strategies has beaten the market more than 19X over. Maybe even more remarkable is the fact that we're willing to share their latest stocks with you without cost or obligation.
See Them Free>>