Earnings Calendar (08Apr24) - Will BlackRock sink?
Earnings Calendar (08 Apr 2024)
There are a few earnings of interest this week namely Delta, Citi, State Street, and BlackRock.
The earnings season continues for Q1 of 2024 quarter, with the banking sectors leading the way.
Let us look at BlackRock in detail.
Observations:
The revenue of the company grew from $11 billion in 2014 to $17.8 billion in the year 2023.
Gross profit grew from $6 billion in 2014 to $8.6 billion in 2023
Operating profit grew from $4.5 billion in 2014 to $6.3 billion in 2023. Though it is not the record operating profit in 2021 common it remains a highly profitable operating margin that last ended at 35.5% in 2023.
The free cash flow (FCF) 10-year median margin stands at a strong 32.8%.
The gross profit margin stands at 50.7% from 10-year median.
At the price-earning (P/E) ratio of 21.4, Black Rock looks to be of good value.
The stock price has been ranging close to the 52-week high.
The stock price has gained 21.5% from a year ago.
EPS stands at 36.85 and the dividend yield is 2.58%.
Investing has recommended a strong sell rating for the stock.
For the coming earnings on the 12th of April 2024, the forecast for the EPS and revenue stands at 9.16 and $4.67 billion respectively.
Will Black Rock continue to range near the 52-week high or will there be a drop in the price as per forecast by investing?
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
