Zacks: Brokers expect Blackbaud, Inc. (NASDAQ: BLKB) to post EPS of $0.70


Equity research analysts expect Blackbaud, Inc. (NASDAQ: BLKB – Get Rating) to report earnings of $0.70 per share for the current quarter, reports Zacks Investment Research. Two analysts made estimates of Blackbaud’s earnings. The highest EPS estimate is $0.72 and the lowest is $0.68. Blackbaud posted earnings of $0.82 per share in the same quarter last year, indicating a negative 14.6% year-over-year growth rate. The company is expected to release its next quarterly results on Monday, January 1.

According to Zacks, analysts expect Blackbaud to report annual earnings of $2.73 per share for the current fiscal year, with EPS estimates ranging from $2.65 to $2.81. For next year, analysts expect the company to post earnings of $3.10 per share, with EPS estimates ranging from $2.98 to $3.23. Zacks average earnings per share is an average average based on a survey of analysts who follow Blackbaud.

Blackbaud Inc (NASDAQ:BLKB – Get Rating) last released its quarterly results on Tuesday, May 3. The tech company reported EPS of $0.57 for the quarter, missing analyst consensus estimates of $0.66 per ($0.09). The company posted revenue of $257.12 million for the quarter, versus analyst estimates of $253.10 million. Blackbaud had a positive return on equity of 8.94% and a negative net margin of 0.47%. The company’s revenue for the quarter increased by 17.3% compared to the same quarter last year. During the same period of the previous year, the company achieved EPS of $0.18.

A number of brokerages have recently published reports on BLKB. TheStreet downgraded Blackbaud from a “c” rating to a “d+” rating in a Monday, February 28 research report. Robert W. Baird lowered his target price on Blackbaud from $85.00 to $70.00 in a research report on Thursday, February 24. StockNews.com began covering Blackbaud in a research report on Thursday, March 31. They issued a “holding” rating on the stock. Zacks Investment Research downgraded Blackbaud from a “hold” rating to a “sell” rating and set a target price of $59.00 for the stock. in a research report on Tuesday, April 12. Finally, Stifel Nicolaus lowered his price target on Blackbaud from $85.00 to $70.00 and set a “hold” rating on the stock in a Wednesday, February 23 research report.

The NASDAQ BLKB opened at $53.36 on Friday. The company has a market capitalization of $2.83 billion, a P/E ratio of -666.92, a P/E/G ratio of 12.68 and a beta of 1.01. The company has a debt ratio of 1.37, a current ratio of 0.67 and a quick ratio of 0.77. The stock’s 50-day moving average is $58.69 and its 200-day moving average is $68.55. Blackbaud has a one-year low of $51.07 and a one-year high of $86.96.

In other Blackbaud news, SVP Jon W. Olson sold 4,580 shares of the company in a trade that took place on Monday, April 4. The stock was sold at an average price of $60.26, for a total transaction of $275,990.80. Following the transaction, the senior vice president now owns 55,902 shares of the company, valued at approximately $3,368,654.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, SVP Jon W. Olson sold 3,000 shares of the company in a trade that took place on Wednesday, March 16. The stock was sold at an average price of $63.06, for a total value of $189,180.00. The disclosure of this sale can be found here. Insiders sold a total of 16,239 shares of the company worth $999,518 over the past ninety days. Insiders own 1.33% of the shares of the company.

Several hedge funds and other institutional investors have recently changed their holdings in BLKB. Norges Bank bought a new position in shares of Blackbaud during the 4th quarter for a value of approximately $33,174,000. FMR LLC increased its stake in Blackbaud shares by 230.0% during the 1st quarter. FMR LLC now owns 538,047 shares of the technology company worth $42,898,000 after acquiring an additional 374,999 shares during the period. BlackRock Inc. increased its stake in Blackbaud shares by 5.9% during the 4th quarter. BlackRock Inc. now owns 5,133,257 shares of the technology company worth $405,427,000 after acquiring an additional 284,769 shares during the period. American Capital Management Inc. increased its stake in Blackbaud shares by 42.9% during the 4th quarter. American Capital Management Inc. now owns 598,182 shares of the technology company worth $47,244,000 after acquiring an additional 179,513 shares during the period. Finally, Geneva Capital Management LLC increased its stake in Blackbaud shares by 25.4% during the 4th quarter. Geneva Capital Management LLC now owns 688,751 shares of the technology company worth $54,398,000 after acquiring an additional 139,372 shares during the period. Institutional investors hold 95.57% of the company’s shares.

Blackbaud company profile (Get a rating)

Blackbaud, Inc provides cloud software solutions to institutions of higher learning, K-12 schools, healthcare organizations, faith communities, arts and cultural organizations, foundations, corporations and individual change agents in United States and around the world. The company offers fundraising and relationship management solutions, such as Blackbaud Raiser’s Edge NXT and Blackbaud CRM, Blackbaud eTapestry, Blackbaud TeamRaiser, JustGiving and Blackbaud Guided Fundraising and Blackbaud Volunteer Network Fundraising; marketing and engagement solutions, including Blackbaud Luminate Online, Blackbaud Online Express and Blackbaud School Website System; and financial management solutions including Blackbaud Financial Edge NXT, Blackbaud Tuition Management and Blackbaud Financial Aid Management.

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