Zacks: Analysts Expect BlackLine, Inc. (NASDAQ:BL) to Post -$0.08 EPS

Wall Street analysts expect that BlackLine, Inc. (NASDAQ:BLGet Rating) will announce earnings of ($0.08) per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for BlackLine’s earnings, with the highest EPS estimate coming in at ($0.07) and the lowest estimate coming in at ($0.09). BlackLine reported earnings of $0.11 per share during the same quarter last year, which indicates a negative year over year growth rate of 172.7%. The business is scheduled to announce its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that BlackLine will report full-year earnings of $0.08 per share for the current financial year, with EPS estimates ranging from $0.03 to $0.10. For the next financial year, analysts forecast that the company will report earnings of $0.35 per share, with EPS estimates ranging from $0.15 to $0.45. Zacks’ EPS averages are an average based on a survey of analysts that cover BlackLine.

BlackLine (NASDAQ:BLGet Rating) last issued its earnings results on Thursday, February 10th. The technology company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.03). The business had revenue of $115.30 million for the quarter, compared to the consensus estimate of $113.55 million. BlackLine had a negative return on equity of 7.63% and a negative net margin of 27.05%. The company’s quarterly revenue was up 20.5% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.04) earnings per share.

A number of equities analysts recently commented on BL shares. JMP Securities decreased their price objective on shares of BlackLine from $145.00 to $112.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 20th. StockNews.com lowered shares of BlackLine from a “hold” rating to a “sell” rating in a research note on Wednesday, April 13th. BTIG Research cut their target price on shares of BlackLine from $125.00 to $115.00 in a research report on Friday, February 11th. Zacks Investment Research upgraded shares of BlackLine from a “sell” rating to a “hold” rating in a research report on Wednesday, April 13th. Finally, BMO Capital Markets began coverage on shares of BlackLine in a research report on Tuesday, February 1st. They issued a “market perform” rating and a $92.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $110.38.

Shares of NASDAQ:BL opened at $67.05 on Friday. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of -34.04 and a beta of 0.90. BlackLine has a 1-year low of $64.03 and a 1-year high of $135.00. The company has a debt-to-equity ratio of 3.43, a quick ratio of 4.18 and a current ratio of 4.18. The company has a 50 day moving average price of $70.92 and a 200 day moving average price of $92.88.

In other news, Director Thomas Unterman sold 500 shares of BlackLine stock in a transaction dated Friday, April 1st. The shares were sold at an average price of $73.35, for a total transaction of $36,675.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Peter Hirsch sold 3,427 shares of BlackLine stock in a transaction dated Tuesday, February 22nd. The shares were sold at an average price of $71.13, for a total transaction of $243,762.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,427 shares of company stock worth $316,003. 9.71% of the stock is owned by company insiders.

A number of hedge funds have recently made changes to their positions in BL. Norges Bank bought a new position in shares of BlackLine in the fourth quarter worth about $47,343,000. Alliancebernstein L.P. raised its stake in shares of BlackLine by 41.4% during the third quarter. Alliancebernstein L.P. now owns 1,312,053 shares of the technology company’s stock worth $154,901,000 after buying an additional 384,024 shares during the last quarter. FMR LLC raised its stake in shares of BlackLine by 47.1% during the first quarter. FMR LLC now owns 1,130,651 shares of the technology company’s stock worth $52,372,000 after buying an additional 361,839 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of BlackLine by 618.6% during the fourth quarter. SG Americas Securities LLC now owns 253,278 shares of the technology company’s stock worth $26,224,000 after buying an additional 218,032 shares during the last quarter. Finally, Eagle Asset Management Inc. bought a new stake in shares of BlackLine during the third quarter worth approximately $22,931,000.

About BlackLine (Get Rating)

BlackLine, Inc provides cloud-based solutions to automate and streamline accounting and finance operations worldwide. It offers financial close management solutions, such as account reconciliations that provides a centralized workspace for users to collaborate on account reconciliations; transaction matching that analyzes and reconciles high volumes of individual transactions; and task management to create and manage processes and task lists.

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