BlackRock Reports Full Year 2024 Diluted EPS of $42.01, or $43.61 as Adjusted; Fourth Quarter 2024 Diluted EPS of $10.63, or $11.93 as Adjusted
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BlackRock (BLK) PT Raised to $1,053 at JPMorgan
January 15, 2025 4:13 PM ESTJPMorgan analyst Kenneth B. Worthington raised the price target on BlackRock (NYSE: BLK) to $1,053.00 (from $971.00) while maintaining a Neutral rating.
The analyst comments "BlackRock reported 4Q24 adj. EPS of $11.93, well ahead of JPM and Bloomberg consensus estimates. Revenues beat with slightly better overall base fees and considerably better performance fees (equities/alternatives). However, the majority of the beat was tax rate-driven 20.9% actual vs. 25%E drove ~$0.55 of the better-than-expected EPS.... More
Jefferies Reiterates Buy Rating on BlackRock (BLK)
January 15, 2025 8:58 AM ESTJefferies analyst Daniel Fannon reiterated a Buy rating and $1,175.00 price target on BlackRock (NYSE: BLK)
The analyst comments "BLK reported 4Q24 non-GAAP EPS of $11.93 (JEFe: $11.14, Cons: $11.26). On an adj op income basis, results were above expectations (+$149M), led by perf fees (+$71M vs est) and positive op leverage (+390bps of margin y/y). Excl active equities, flows were positive in all other categories. LT inflows equaled +$201B (vs +$159B est), led by equities ($127B vs $106B est). Organic base fee growth equaled +7% (vs +5% last qtr) and tech ACV growth increased to +12%.... More
Barclays Reiterates Overweight Rating on BlackRock (BLK)
January 15, 2025 8:56 AM ESTBarclays analyst Benjamin Budish reiterated an Overweight rating and $1,160.00 price target on BlackRock (NYSE: BLK)
The analyst comments "Adj. diluted EPS of $11.93 beat Street expectations of $11.46. Details below: AUM as of 12/31 was ~$11.6T and came in ~1% below Consensus and 2% below our model. Despite stronger net flows (more below), market performance and FX were offsetting headwinds. The miss was most pronounced in Fixed Income and Equity, while Alternatives AUM came in ~3%... More
Goldman Sachs Reiterates Buy Rating on BlackRock (BLK)
January 15, 2025 8:55 AM ESTGoldman Sachs analyst Alexander Blostein reiterated a Buy rating and $1,159.00 price target on BlackRock (NYSE: BLK)
The analyst comments "BLK reported 4Q24 adjusted EPS of $11.93, (+23% y/y) well above GSe at $10.80 and Visible Alpha Consensus Data $11.17. Operating income of $2.33bn was 5% higher than Consensus expectations as well, driven by strong top-line trends and better than expected follow-through to the bottom line. Total revenues of $5.67bn (+9% q/q) came in 2% ($99mn) above Consensus, driven mainly by a $94mn performance fees beat. Encouragingly, management fees of... More
Citi Reiterates Buy Rating on BlackRock (BLK)
January 15, 2025 8:54 AM ESTCiti analyst Chris Allen reiterated a Buy rating and $1,200.00 price target on BlackRock (NYSE: BLK)
The analyst comments "BLK reported adj. EPS of $11.93 vs our est. of $11.31 and FactSet consensus of $11.24. Revenues of $5.68B were above our $5.65B est., driven largely by... More
