BKI - Black Knight, Inc.

NYSE - NYSE Delayed price. Currency in USD
72.27
-0.51 (-0.70%)
At close: 4:00PM EDT
Stock chart is not supported by your current browser
Previous close72.78
Open73.13
Bid27.00 x 900
Ask72.20 x 1400
Day's range72.08 - 73.53
52-week range50.01 - 77.81
Volume633,479
Avg. volume843,125
Market cap11.35B
Beta (5Y monthly)0.88
PE ratio (TTM)81.20
EPS (TTM)0.89
Earnings date04 Aug 2020 - 10 Aug 2020
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target est78.60
  • Eerie Calm Settles on Housing Market, Defying Doomsayers for Now
    Bloomberg

    Eerie Calm Settles on Housing Market, Defying Doomsayers for Now

    (Bloomberg) -- The U.S. housing market, which seemed headed off a cliff in April, now looks like it’s returning to some semblance of normal. The quiet may not last long.The initial chaos caused by the coronavirus pandemic has given way to an eerie calm, housing-industry executives say. Unemployment is near record highs, yet home prices keep rising. Lenders that in March warned of imminent collapse are now getting crushed by a surge in mortgage applications. Even some private-mortgage issuers, which don’t have government backing and are typically the most risk-averse in a recession, have come back into the market and say their mortgage-bond offerings have been oversubscribed.But even amid the welcome surprise, there are signs some homeowners and renters are hanging on by a thread. Many Americans who have lost a job say they’re continuing to make rent or mortgage payments but aren’t certain how long that can last.“With such elevated levels of unemployment, many households are experiencing very challenging financial distress,” said CoreLogic chief economist Frank Nothaft. “Without some additional program or support, whether at the federal or state level, they will have a lot of difficulty meeting all their payments.”Bleeding StanchedMuch of the initial bleeding was stanched by the $2.2 trillion stimulus package passed by Congress in March. In addition to billions of dollars given to small businesses to maintain payrolls, Congress increased unemployment benefits by $600 per week. The law also allows borrowers with a government-backed mortgage to delay payments for as long as a year if they claim a pandemic-related hardship.The various programs were more than enough to keep most renters and borrowers on track. Some Americans are receiving more money from federal pandemic payments than they did from their jobs.Calls to Apprisen, an Ohio-based nonprofit credit counseling service, are down 11% from a year earlier. Financial counselor Sarah Gardner said the weekly $600 pandemic payment made many struggling homeowners ineligible for a federal mortgage-assistance program she used before the pandemic.But with the $600-per-week set to expire at the end of July, there are signs homeowners and renters could slip.About 9.1 million borrowers told the Census Bureau in June that they had not made last month’s mortgage payment after their household lost employment income during the pandemic. But 10.7 million said they had slight to no confidence that they’d make their payment next month.Declining ConfidenceRenters are even more on edge. About one in four rental households that lost income said they missed last month’s rent payment, according to the Census. One in three said they have little to no confidence they’ll pay next month.Doug Bibby, president of the National Multifamily Housing Council, said he went into April “terrified” of how spiking unemployment would hurt his trade group’s members, which are predominantly apartment-leasing firms. “I was expecting the worst. I really was. We got through April. I thought this can’t keep going in May. The May numbers were better,” he said.Anecdotally, the group’s members say the enhanced unemployment benefits approved by Congress through July 31 have kept renters paying even if they lost income.If those benefits end without replacement, “we’re really concerned,” said Caitlin Walter, the trade group’s vice president of research.When Congress passed the law allowing mortgage borrowers to skip payments for as long as a year, a mortgage industry trade group predicted as many as one in four loans would enter forbearance programs.Instead, the forbearance rate has stalled at about 8.7%, according to real-estate data firm Black Knight Inc. What’s more, many borrowers who asked for forbearance have kept making mortgage payments anyway, servicers say.“It turned out to be a better situation than we all anticipated,” said Bill Banfield, executive vice president of capital markets for Quicken Loans Inc. Banfield said Quicken and other firms have seen upwards of 40% of borrowers in forbearance continue to pay.At Mr. Cooper Group Inc., one of the nation’s biggest mortgage companies, the daily number of homeowners entering forbearance has fallen by about 90%, and more borrowers are exiting forbearance plans than entering, said Chief Credit Officer Kurt Johnson.Mat Ishbia, chief executive officer of United Wholesale Mortgage, reckons that low interest rates and pent up demand will fuel an economic comeback, and the next 12 months could mark the best year in the history of U.S. housing. The “great, great majority” of borrowers facing hardship now will soon find their footing and resume paying off their mortgages, he said.Households PreparingMuch of that prediction stems from clear signs that households are getting their finances in order to prepare for the risk of a prolonged recession. They’ve largely shunned additional borrowing and instead have paid down their debt, according to credit bureau TransUnion.Matt Komos, who leads the company’s U.S. financial services research and consulting, said borrower behavior during the pandemic suggests that even if the economy worsens “they’re going to do whatever they can to keep their homes.”But there’s concern about what could happen later this year.For one, even though the forbearance rate has flattened, more borrowers in forbearance programs are starting to miss their payments. In April, 46% of borrowers in forbearance still paid their mortgage. By the end of May, that had fallen to 28%, and by June 15, just 15% of borrowers had made their payment for this month, according to Black Knight.Even if borrowers manage to survive the initial shock of enhanced unemployment benefits ending, there could be renewed stress next year.Unlike a decade ago, when about one in four borrowers owed more on their homes than they were worth, now nearly 97% have equity in their homes, according to CoreLogic. So if they can’t make their mortgage payments, they’re more likely to try to sell their homes than default. If many borrowers try to do that at once when their forbearance ends next year, that could lead to a crush of homes for sale and declining prices, Mr. Cooper’s Johnson said.Dennis Lee, who analyzes mortgages at Barclays, reckons that 15% to 25% of borrowers in forbearance eventually will default, an estimate he arrived at after studying past episodes of financial distress.Defaults QuadrupleCoreLogic estimates defaults in some mortgages would quadruple by 2022 under its baseline economic scenario, in which unemployment peaks this year at just more than 15%.Robert Perry, who oversees investment strategy at financial advisory firm ALM First Group LLC, doesn’t think losses will approach the levels of the last financial crisis. Over the past decade, lenders have given mortgages largely to borrowers with sterling credit who could afford hefty down payments, and rising home prices over the last several years has meant record levels of home equity.About 80% of borrowers postponing their payments have at least 20% equity in their homes, according to Black Knight, giving creditors some comfort that a surge of defaults may not wreck their bottom lines.Those homeowners who owe about as much as their properties are worth are “the corner of the box everyone has a circle around,” Perry said.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Bloomberg

    U.S. Home-Mortgage Delinquencies Reach Highest Level Since 2011

    (Bloomberg) -- U.S. home-mortgage delinquencies climbed in May to the highest level since November 2011 as the pandemic’s toll on personal finances deepened.The number of borrowers more than 30 days late swelled to 4.3 million, up 723,000 from the previous month, according to property information service Black Knight Inc. More than 8% of all U.S. mortgages were past due or in foreclosure.The increase in delinquencies was smaller than the 1.6 million jump in April, when the economy ground to a halt nationwide. Still, the path ahead is clouded by the spread of new Covid-19 cases, uncertainty over business reopenings and the looming expiration of benefits that have helped jobless homeowners avert delinquency.About 20.5 million Americans filed continuing claims for unemployment benefits in the first week of June, Labor Department figures show.The delinquency count includes homeowners who missed payments as part of forbearance agreements, which allow an initial six-month reprieve without penalty. Many of those borrowers initially made payments despite qualifying for the relief plans, a share that has diminished as the crisis lingers.Only 15% of homeowners in forbearance made payments as of June 15, down from 28% in May and 46% in April.Black Knight also reported:Mississippi had the highest delinquency rate in May, followed by Louisiana, New York, New Jersey and Florida.New York’s share rose to 11.3%. It peaked at 13.9% in December 2012.New Jersey’s rate was 11%, compared with the peak of 16.8% in December 2012.Florida’s share climbed to 10.5%. Its previous peak was 25.4% in January 2010.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Mortgage Market Sends Wrong Message
    Bloomberg

    Mortgage Market Sends Wrong Message

    (Bloomberg Opinion) -- The Covid-19 pandemic arrested the plans of millions of Americans to purchase a home. But what if you lock someone down in a home they had already mentally moved out of? Might they pour their energy into touring homes online to produce a short list of targets? And might they get preapproved for a mortgage so it’s a simple matter of income verification once the economy reopened and they’d submitted an offer on a home?Of course they would, which helps explain the huge surge in the Mortgage Bankers Association of America’s index tracking applications for loans to buy homes. That gauge has risen for nine straight weeks to reach its highest level since the start of 2009, which defies logic when you consider that more than 44 million Americans have filed for unemployment benefits since mid-March. No doubt that some of this is tied to the minor exodus from densely populated cities. After all, long commutes are less of an issue now that we’ve seen the efficacy of working from home play out in real time.But don’t let mortgage applications fool you. Entering into a deal to buy a home now could prove unwise. Much of the real estate market remains in a deep freeze, with listings down nationwide and borrowers struggling to meet debt payments. Black Knight Inc. reports that 4.73 million mortgages, or 8.9% nationwide, are in forbearance. “During the Great Recession, it took more than two years for the national delinquency rate to increase by the 3.1% seen in April 2020 alone,” Black Knight noted in a report.Including the emergency programs in the CARES Act, 29.5 million Americans are receiving unemployment benefits, up from 1.7 million in early March before the Covid-19 pandemic took hold. The extra $600 a week many are receiving from the government is set to end July 31. Fresh data from the Federal Reserve showed that Americans’ net worth fell by a record $6.55 trillion in the first quarter to $100.8 trillion, the largest drop in records back to 1952.Lenders know all this. Which explains why the MBA’s Mortgage Credit Availability Index has tumbled to a six-year low. Tighter lending standards applied at both ends of the spectrum, from first-time buyers to conforming and non-conforming jumbo loans. Several lenders including Wells Fargo & Co., which is planning job cuts of its own, have shuttered their jumbo loan lending operations and pulled back on home equity lines of credit. Tellingly, homebuilder Hovnanian Enterprises Inc. has  announced job cuts with the aim of reducing overhead and other costs by $20 million, which is not what one would expect if the housing outlook was bright.The elevated number of weekly initial jobless claims are starting to capture a second, potentially more damaging wave of layoffs. A recent study by Bloomberg Economics found that close to six million white-collar jobs are at risk, many in high paying professional services, finance and real estate. A subsequent study found 30% of workers who lost jobs between February and May will become permanent job losses stemming from demand destruction.A dearth of home supply has buoyed prices for years, a phenomenon that grew exponentially as listings were pulled in the wake of shelter-in-place orders. According to Realtor.com, listings were down by 30% in early May over the prior year. They are still down a hefty 21% and are unlikely to shrink much further. And if they expand, it may be due to millions of retirees deciding to list their homes and monetize any wealthy they have built up.This will pinch the construction of high-end homes, which has boomed the past decade, putting a drag on the economy. Housing accounted for 15% of gross domestic product in 2018, including residential fixed investment and spending on housing services.In a first glimpse of what’s to come, Realtor.com on Thursday released a fresh index gauging the recovery of the housing market. While activity was brisk in cities crawling out of shutdown mode, those that reopened the earliest such as Houston, Phoenix and Tampa have all seen their readings come off their post-reopening highs.The smart and patient buyers see what’s happening. They know to wait until forbearance expires and increasingly tight mortgage lending standards wash out the eager but unqualified. They know that the pent-up demand will be satisfied and that the artificial dearth of supply will become robust, which will pressure prices lower.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Danielle DiMartino Booth, a former adviser to the president of the Dallas Fed, is the author of "Fed Up: An Insider's Take on Why the Federal Reserve Is Bad for America," and founder of Quill Intelligence.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Black Knight, Inc. Just Beat EPS By 30%: Here's What Analysts Think Will Happen Next
    Simply Wall St.

    Black Knight, Inc. Just Beat EPS By 30%: Here's What Analysts Think Will Happen Next

    It's been a good week for Black Knight, Inc. (NYSE:BKI) shareholders, because the company has just released its latest...

  • Black Knight, Inc. (BKI) Q1 2020 Earnings Call Transcript
    Motley Fool

    Black Knight, Inc. (BKI) Q1 2020 Earnings Call Transcript

    Good morning, everyone, and thank you for joining us for the Black Knight First Quarter 2020 Earnings Conference Call. Joining me today are Chief Executive Officer, Anthony Jabbour; and Chief Financial Officer, Kirk Larsen.

  • Should Black Knight (NYSE:BKI) Be Disappointed With Their 20% Profit?
    Simply Wall St.

    Should Black Knight (NYSE:BKI) Be Disappointed With Their 20% Profit?

    If you want to compound wealth in the stock market, you can do so by buying an index fund. But you can significantly...

  • Business Wire

    ROSEN, A HIGHLY RANKED FIRM, Continues to Investigate Securities Claims Against Black Knight, Inc. – BKI

    Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Black Knight, Inc. (NYSE: BKI) resulting from allegations that Black Knight may have issued materially misleading business information to the investing public.

  • GlobeNewswire

    ROSEN, A LEADING LAW FIRM, Continues to Investigate Securities Claims Against Black Knight, Inc. – BKI

    NEW YORK, March 09, 2020 -- Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Black Knight,.

  • Earnings Preview: Black Knight (BKI) Q4 Earnings Expected to Decline
    Zacks

    Earnings Preview: Black Knight (BKI) Q4 Earnings Expected to Decline

    Black Knight (BKI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • GlobeNewswire

    SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Black Knight, Inc. - BKI

    Pomerantz LLP is investigating claims on behalf of investors of Black Knight, Inc. (“Black Night” or the “Company”) (NYSE: BKI). Such investors are advised to contact Robert S. Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext. The investigation concerns whether Black Knight and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.

  • Why Black Knight, Inc.'s (NYSE:BKI) High P/E Ratio Isn't Necessarily A Bad Thing
    Simply Wall St.

    Why Black Knight, Inc.'s (NYSE:BKI) High P/E Ratio Isn't Necessarily A Bad Thing

    This article is written for those who want to get better at using price to earnings ratios (P/E ratios). We'll show...

  • GlobeNewswire

    ROSEN, NATIONAL TRIAL LAWYERS, Continues to Investigate Securities Claims Against Black Knight, Inc. – BKI

    NEW YORK, Dec. 27, 2019 -- Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Black Knight,.

  • A Closer Look At Black Knight, Inc.'s (NYSE:BKI) Uninspiring ROE
    Simply Wall St.

    A Closer Look At Black Knight, Inc.'s (NYSE:BKI) Uninspiring ROE

    Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is...

  • GlobeNewswire

    Rosen, a Global Law Firm, Continues to Investigate Securities Claims Against Black Knight, Inc. – BKI

    NEW YORK, Nov. 25, 2019 -- Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Black Knight,.

  • GlobeNewswire

    ROSEN, A GLOBALLY RANKED LAW FIRM, Continues to Investigate Securities Claims Against Black Knight, Inc. – BKI

    NEW YORK, Nov. 19, 2019 -- Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Black Knight,.

  • GlobeNewswire

    Bragar Eagel & Squire, P.C. Is Investigating Baxter International, Black Knight, Merit Medical Systems, and Forescout Technologies on Behalf of Stockholders and Encourages Investors to Contact the Firm

    NEW YORK, Nov. 14, 2019 -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder law firm, is investigating potential claims against Baxter International, Inc..

  • GlobeNewswire

    Black Knight, Inc. Investigated by Block & Leviton LLP For Violations of Federal Securities Laws

    BOSTON, Nov. 13, 2019 -- Block & Leviton LLP (www.blockesq.com), a securities litigation firm representing investors and whistleblowers nationwide, is investigating Black.

  • GlobeNewswire

    EQUITY ALERT: Rosen Law Firm Announces Investigation of Securities Claims Against Black Knight, Inc. – BKI

    NEW YORK, Nov. 07, 2019 -- Rosen Law Firm, a global investor rights law firm, announces it is investigating potential securities claims on behalf of shareholders of Black.

  • Black Knight (BKI) Beats Q3 Earnings and Revenue Estimates
    Zacks

    Black Knight (BKI) Beats Q3 Earnings and Revenue Estimates

    Black Knight (BKI) delivered earnings and revenue surprises of 6.25% and 0.10%, respectively, for the quarter ended September 2019. Do the numbers hold clues to what lies ahead for the stock?

  • Is Black Knight (NYSE:BKI) A Risky Investment?
    Simply Wall St.

    Is Black Knight (NYSE:BKI) A Risky Investment?

    Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...

  • Black Knight (BKI) Reports Next Week: What You Should Expect
    Zacks

    Black Knight (BKI) Reports Next Week: What You Should Expect

    Black Knight (BKI) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • Should You Be Worried About Insider Transactions At Black Knight, Inc. (NYSE:BKI)?
    Simply Wall St.

    Should You Be Worried About Insider Transactions At Black Knight, Inc. (NYSE:BKI)?

    It is not uncommon to see companies perform well in the years after insiders buy shares. The flip side of that is that...

  • Does This Valuation Of Black Knight, Inc. (NYSE:BKI) Imply Investors Are Overpaying?
    Simply Wall St.

    Does This Valuation Of Black Knight, Inc. (NYSE:BKI) Imply Investors Are Overpaying?

    Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Black Knight, Inc...