BlackLine (BL) Set to Announce Quarterly Earnings on Thursday

BlackLine (NASDAQ:BL) is scheduled to announce its earnings results after the market closes on Thursday, May 3rd. Analysts expect the company to announce earnings of ($0.10) per share for the quarter. BlackLine has set its Q1 guidance at -0.02 to -0.04 EPS and its FY18 guidance at $0.00 to $0.02 EPS.

BlackLine (NASDAQ:BL) last posted its earnings results on Thursday, February 15th. The technology company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.12. BlackLine had a negative return on equity of 6.53% and a negative net margin of 21.50%. The company had revenue of $50.23 million for the quarter, compared to the consensus estimate of $47.69 million. During the same quarter in the previous year, the business earned ($0.08) earnings per share. The company’s revenue for the quarter was up 42.1% on a year-over-year basis. On average, analysts expect BlackLine to post $0 EPS for the current fiscal year and $0 EPS for the next fiscal year.

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Shares of NASDAQ BL opened at $41.04 on Thursday. BlackLine has a twelve month low of $28.79 and a twelve month high of $45.19. The firm has a market capitalization of $2,185.67, a PE ratio of -110.92 and a beta of -0.41.

In related news, CRO Chris Murphy sold 50,000 shares of the business’s stock in a transaction on Wednesday, March 14th. The stock was sold at an average price of $39.60, for a total transaction of $1,980,000.00. Following the completion of the transaction, the executive now directly owns 68,872 shares of the company’s stock, valued at approximately $2,727,331.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Iconiq Strategic Partners, L.P sold 2,000,000 shares of the business’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $40.75, for a total value of $81,500,000.00. The disclosure for this sale can be found here. Insiders sold 3,090,000 shares of company stock valued at $125,860,000 over the last ninety days. Insiders own 18.60% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. BidaskClub raised BlackLine from a “hold” rating to a “buy” rating in a research note on Thursday, April 19th. Zacks Investment Research cut BlackLine from a “hold” rating to a “sell” rating in a research note on Thursday, February 22nd. SunTrust Banks cut BlackLine from a “buy” rating to a “hold” rating and set a $43.00 price objective for the company. in a research note on Monday, March 19th. They noted that the move was a valuation call. KeyCorp lifted their price objective on BlackLine from $46.00 to $52.00 and gave the company an “overweight” rating in a research note on Monday, March 12th. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of BlackLine in a research note on Friday, February 16th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the company’s stock. BlackLine has an average rating of “Hold” and an average target price of $39.60.

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About BlackLine

BlackLine, Inc provides financial accounting close solutions delivered as a Software as a Service in the United States and internationally. Its solutions enables its customers to address various aspects of their financial closing process, including account reconciliations, variance analysis of account balances, and journal entry capabilities, as well as a range of data matching capabilities.

Earnings History for BlackLine (NASDAQ:BL)

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