Equities analysts forecast that The Blackstone Group Inc. (NYSE:BX) will post earnings of $0.74 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for The Blackstone Group’s earnings, with estimates ranging from $0.68 to $0.80. The Blackstone Group posted earnings of $0.43 per share in the same quarter last year, which indicates a positive year over year growth rate of 72.1%. The business is expected to report its next earnings report on Thursday, July 22nd.
According to Zacks, analysts expect that The Blackstone Group will report full year earnings of $3.51 per share for the current financial year, with EPS estimates ranging from $3.26 to $3.69. For the next year, analysts expect that the business will post earnings of $3.80 per share, with EPS estimates ranging from $3.38 to $4.18. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that cover The Blackstone Group.
The Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Wednesday, April 21st. The asset manager reported $0.96 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.72 by $0.24. During the same quarter in the prior year, the company posted $0.46 EPS.
In related news, major shareholder Blackstone Group Inc sold 2,370,632 shares of The Blackstone Group stock in a transaction dated Wednesday, March 24th. The shares were sold at an average price of $37.00, for a total transaction of $87,713,384.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider John G. Finley sold 33,404 shares of The Blackstone Group stock in a transaction dated Thursday, April 29th. The stock was sold at an average price of $89.88, for a total transaction of $3,002,351.52. Following the transaction, the insider now directly owns 363,489 shares of the company’s stock, valued at $32,670,391.32. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of BX. D1 Capital Partners L.P. acquired a new stake in shares of The Blackstone Group during the fourth quarter worth about $81,661,000. Morgan Stanley boosted its position in shares of The Blackstone Group by 5.9% during the 4th quarter. Morgan Stanley now owns 20,017,438 shares of the asset manager’s stock worth $1,297,331,000 after purchasing an additional 1,121,123 shares in the last quarter. UBS Asset Management Americas Inc. boosted its position in shares of The Blackstone Group by 46.5% during the 4th quarter. UBS Asset Management Americas Inc. now owns 2,594,027 shares of the asset manager’s stock worth $168,119,000 after purchasing an additional 822,850 shares in the last quarter. Lord Abbett & CO. LLC purchased a new stake in shares of The Blackstone Group during the 4th quarter worth $47,854,000. Finally, Alphinity Investment Management Pty Ltd raised its stake in shares of The Blackstone Group by 102.5% during the 1st quarter. Alphinity Investment Management Pty Ltd now owns 1,400,645 shares of the asset manager’s stock worth $104,390,000 after buying an additional 708,830 shares during the last quarter. Hedge funds and other institutional investors own 59.77% of the company’s stock.
Shares of BX traded up $1.80 during trading hours on Tuesday, hitting $90.13. The stock had a trading volume of 92,801 shares, compared to its average volume of 2,943,463. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.14 and a current ratio of 1.14. The Blackstone Group has a fifty-two week low of $47.80 and a fifty-two week high of $90.42. The firm has a market capitalization of $61.63 billion, a price-to-earnings ratio of 82.55 and a beta of 1.33. The firm has a 50-day moving average price of $79.14 and a 200 day moving average price of $67.43.
The firm also recently declared a quarterly dividend, which will be paid on Monday, May 10th. Shareholders of record on Monday, May 3rd will be given a $0.82 dividend. The ex-dividend date of this dividend is Friday, April 30th. This represents a $3.28 annualized dividend and a yield of 3.64%. The Blackstone Group’s payout ratio is presently 141.99%.
The Blackstone Group Company Profile
The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.
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