BLK Earnings: BlackRock Stock Jumps On Powerful Q4 Beats

BlackRock (BLK) stock rose in premarket trading after posting strong earnings for the fourth quarter of 2024. Its adjusted earnings per share of $11.93 beat Wall Street’s estimate of $11.24. This represents a 23% year-over-year increase from $9.66 per share. The U.S. global investment management company attributes this growth to accelerated client activity in Q4.

BlackRock also posted revenue of $5.677 billion in its Q4 earnings report. That’s another beat compared to analysts’ revenue estimate of $5.57 billion while increasing 23% year-over-year from $4.631 billion. BLK pins this increase on higher performance fees and technology service revenue, as well as other improvements.

BLK stock is up 2.75% alongside its strong Q4 earnings beats today. That’s a welcome change for shareholders, who have watched the company’s stock drop 6.04% year-to-date.

What’s Next for BlackRock Stock?

BlackRock chairman and CEO Laurence Fink said the company still has room to grow. He argues its earnings don’t yet “reflect the full integration or pending acquisitions of the high-growth businesses of GIP, HPS and Preqin.” The CEO also points to “organic investments ahead of structural trends” that should “drive outsized growth in the years ahead.”

That’s exciting news for BLK investors as BlackRock already saw significant growth in 2024. Its adjusted EPS of $43.61 and revenue of $20.407 billion were up 15% and 14% compared to 2023.

Is BLK Stock a Buy, Sell, or Hold?

Turning to Wall Street, the analysts’ consensus rating for BlackRock is Strong Buy based on 12 Buy and one Hold rating over the last three months. With that comes an average price target of $1,147.46, a high of $1,261, and a low of $914. This represents a potential 19.13% upside for BLK shares. These ratings and price targets will likely change following its latest earnings report.

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