Have you been eager to see how BlackRock, Inc. (BLK - Free Report) performed in Q2 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 Miss
BlackRock came out with adjusted earnings per share of $5.24, beating the Zacks Consensus Estimate of $5.39.
Lower-than-expected earnings were primarily due to higher expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for BlackRock depicted optimism prior to the earnings release. The Zacks Consensus Estimate has moved nearly 1% higher over the last 7 days.
Before posting earnings miss in Q2, 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 2.56% in the trailing four quarters.
Revenue Came In Line
BlackRock posted revenues of $2.97 billion, in line with the Zacks Consensus Estimate. The reported figure was up from 5% from the year-ago quarter.
Key Developments to Note:
- Technology and risk management revenue recorded 12% year-over-year rise
- Assets under management of $5.7 trillion as of Jun 30, 2017, up 14% year over year
- Long-term inflows of $93.5 billion in the quarter
- Share repurchase worth $275 million during the quarter
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) 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 unfavorable, 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!
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Have you been eager to see how BlackRock, Inc. (BLK - Free Report) performed in Q2 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 Miss
BlackRock came out with adjusted earnings per share of $5.24, beating the Zacks Consensus Estimate of $5.39.
Lower-than-expected earnings were primarily due to higher expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for BlackRock depicted optimism prior to the earnings release. The Zacks Consensus Estimate has moved nearly 1% higher over the last 7 days.
Before posting earnings miss in Q2, 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 2.56% in the trailing four quarters.
Revenue Came In Line
BlackRock posted revenues of $2.97 billion, in line with the Zacks Consensus Estimate. The reported figure was up from 5% from the year-ago quarter.
Key Developments to Note:
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) 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 unfavorable, 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 +18.8% from 2016 - Q1 2017, our top stock-picking screens have returned +157.0%, +128.0%, +97.8%, +94.7%, and +90.2% respectively
And this outperformance has not just been a recent phenomenon. Over the years it has been remarkably consistent. From 2000 - Q1 2017, the composite yearly average gain for these strategies has beaten the market more than 11X 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>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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