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With a market cap of $159.1 billion, BlackRock, Inc. (BLK) is a leading global investment management firm. Serving institutional, intermediary, and individual investors worldwide, it manages diverse portfolios and provides risk management, advisory services, and innovative investment strategies. The New York City-based company is expected to announce its fiscal Q4 earnings result on Friday, Jan. 10.
Ahead of this event, analysts expect the investment firm to report a profit of $11.42 per share, up 18.2% from $9.66 per share in the previous year's quarter. The company has surpassed Wall Street's bottom-line estimates in the past four quarters. BLK exceeded the consensus EPS estimate by nearly 10% in the most recent quarter.
For fiscal 2024, analysts expect BLK to report EPS of $43.01, up 13.9% from $37.77 in fiscal 2023. Looking forward to fiscal 2025, EPS is expected to grow 11.4% year-over-year to $47.93.
BLK has gained 26.6% on a YTD basis, outperforming both the S&P 500 Index's ($SPX) 23.8% rise. However, the stock has lagged behind the Financial Select Sector SPDR Fund's (XLF) 28.7% return over the same period.
Shares of BlackRock rose 3.6% on Oct. 11 due to its strong Q3 2024 earnings report that exceeded expectations, with adjusted earnings per share of $11.46 and revenue of $5.2 billion. The company's assets under management (AUM) reached a record $11.5 trillion, fueled by $160 billion in long-term net inflows and market appreciation. Additionally, positive investor sentiment was bolstered by BlackRock's solid capital management, including share repurchases of $375 million during the quarter.
Analysts' consensus rating on BlackRock's stock is bullish, with a "Strong Buy" rating overall. Out of 18 analysts covering the stock, opinions include 14 "Strong Buys," two "Moderate Buys," and two "Holds." As of writing, BLK is trading below the average analyst price target of $1,134.69.
