Zacks: Analysts Expect Blackbaud, Inc. (NASDAQ:BLKB) Will Announce Earnings of $0.65 Per Share

Analysts expect that Blackbaud, Inc. (NASDAQ:BLKBGet Rating) will report earnings per share of $0.65 for the current quarter, according to Zacks. Two analysts have made estimates for Blackbaud’s earnings, with the highest EPS estimate coming in at $0.67 and the lowest estimate coming in at $0.63. Blackbaud posted earnings per share of $0.68 in the same quarter last year, which would indicate a negative year-over-year growth rate of 4.4%. The business is scheduled to announce its next earnings results on Monday, January 1st.

On average, analysts expect that Blackbaud will report full-year earnings of $2.72 per share for the current year, with EPS estimates ranging from $2.65 to $2.77. For the next financial year, analysts expect that the firm will post earnings of $3.06 per share, with EPS estimates ranging from $2.98 to $3.11. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Blackbaud.

Blackbaud (NASDAQ:BLKBGet Rating) last released its quarterly earnings data on Tuesday, February 22nd. The technology company reported $0.24 EPS for the quarter, meeting analysts’ consensus estimates of $0.24. Blackbaud had a return on equity of 10.60% and a net margin of 0.61%. The business had revenue of $247.90 million for the quarter, compared to the consensus estimate of $241.84 million. During the same quarter in the prior year, the business posted $0.31 EPS. The business’s revenue for the quarter was up 2.2% on a year-over-year basis.

A number of research analysts recently issued reports on BLKB shares. StockNews.com started coverage on Blackbaud in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Stifel Nicolaus dropped their price target on Blackbaud from $85.00 to $70.00 and set a “hold” rating on the stock in a research note on Wednesday, February 23rd. Zacks Investment Research downgraded Blackbaud from a “hold” rating to a “sell” rating and set a $59.00 price target on the stock. in a research note on Tuesday, April 12th. TheStreet cut Blackbaud from a “c” rating to a “d+” rating in a research report on Monday, February 28th. Finally, Robert W. Baird decreased their price objective on Blackbaud from $85.00 to $70.00 in a research report on Thursday, February 24th. One analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat, Blackbaud has an average rating of “Hold” and an average target price of $66.33.

NASDAQ:BLKB traded down $0.74 during mid-day trading on Friday, reaching $56.91. 212,368 shares of the stock were exchanged, compared to its average volume of 359,456. The company has a 50 day simple moving average of $61.18 and a 200-day simple moving average of $70.32. The stock has a market capitalization of $2.96 billion, a P/E ratio of 474.29 and a beta of 1.07. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 1.31. Blackbaud has a 1 year low of $53.81 and a 1 year high of $86.96.

In related news, SVP Jon W. Olson sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 16th. The stock was sold at an average price of $63.06, for a total value of $189,180.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael P. Gianoni sold 8,659 shares of the firm’s stock in a transaction that occurred on Tuesday, March 1st. The shares were sold at an average price of $61.71, for a total value of $534,346.89. The disclosure for this sale can be found here. Insiders sold a total of 16,239 shares of company stock valued at $999,518 over the last three months. Insiders own 1.33% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC increased its position in Blackbaud by 230.0% during the first quarter. FMR LLC now owns 538,047 shares of the technology company’s stock worth $42,898,000 after buying an additional 374,999 shares in the last quarter. First Trust Advisors LP purchased a new position in Blackbaud during the first quarter worth $488,000. New York State Teachers Retirement System increased its position in Blackbaud by 3.8% during the third quarter. New York State Teachers Retirement System now owns 62,758 shares of the technology company’s stock worth $4,415,000 after buying an additional 2,320 shares in the last quarter. Stephens Inc. AR increased its position in Blackbaud by 88.8% during the third quarter. Stephens Inc. AR now owns 27,535 shares of the technology company’s stock worth $1,937,000 after buying an additional 12,954 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its position in Blackbaud by 13.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 40,344 shares of the technology company’s stock worth $2,838,000 after buying an additional 4,708 shares in the last quarter. 98.60% of the stock is owned by hedge funds and other institutional investors.

About Blackbaud (Get Rating)

Blackbaud, Inc provides cloud software solutions to higher education institutions, KÂ-12 schools, healthcare organizations, faith communities, arts and cultural organizations, foundations, companies, and individual change agents in the United States and internationally. 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 comprising Blackbaud Financial Edge NXT, Blackbaud Tuition Management, and Blackbaud Financial Aid Management.

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