BlackRock, Inc. (BLK) shares are fractionally higher to $376.80 in pre-market trading Thursday after the company reported its first quarter 2015 earnings results.
The world’s largest money manager reported non-GAAP earnings of $4.89 per share on revenues of $2.72 billion, up 2.0% from $2.67 billion a year ago. Analysts were expecting EPS of $4.51 on revenues of $2.79 billion. Net income attributable to BLK rose 8.7% to $822 million, or $4.84 per share, from $756 million, or $4.40 per share, a year earlier.
Q1 long-term net inflows came in at $70.4 billion, representing 6.5% annualized organic growth. This was “one of the most broadly diverse flow quarters in BlackRocks history,” said in a statement Larry Fink, Chairman and CEO of BlackRock. As of March 31, 2015, BlackRocks assets under management was $4.774 trillion compared to $4.40 trillion a year earlier.
On valuation measures, BlackRock Inc. shares, which currently have an average 3-month trading volume of 473,441.00 shares, trade at a trailing-12 P/E of 19.57, a forward P/E of 16.27 and a P/E to growth ratio of 1.37. The median Wall Street price target on the name is $399.00 with a high target of $440.00. Currently ticker boasts 7 ‘Buy’ endorsements, compared to 11 ’Holds’ and no ‘Sell’.
Profitability-wise, BLK has a t-12 profit and operating margin of 29.73% and 40.38%, respectively. The $62.87 billion market cap company currently prints a one year return of about 29% and a year-to-date return of around 6%.
The chart below shows where the equity has traded over the last 52 weeks.