Zacks: Analysts Anticipate Blackstone Group LP (BX) Will Announce Earnings of $0.73 Per Share
Wall Street brokerages forecast that Blackstone Group LP (NYSE:BX) will announce earnings of $0.73 per share for the current quarter, according to Zacks. Three analysts have provided estimates for Blackstone Group’s earnings, with the highest EPS estimate coming in at $0.78 and the lowest estimate coming in at $0.60. Blackstone Group reported earnings per share of $0.69 during the same quarter last year, which suggests a positive year-over-year growth rate of 5.8%. The company is expected to report its next earnings results before the market opens on Thursday, October 18th.
On average, analysts expect that Blackstone Group will report full-year earnings of $3.07 per share for the current year, with EPS estimates ranging from $3.00 to $3.17. For the next year, analysts expect that the firm will post earnings of $3.14 per share, with EPS estimates ranging from $2.22 to $3.43. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Blackstone Group.
Blackstone Group (NYSE:BX) last released its quarterly earnings results on Thursday, July 19th. The asset manager reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.17. The business had revenue of $2.63 billion during the quarter, compared to analysts’ expectations of $1.74 billion. Blackstone Group had a return on equity of 22.64% and a net margin of 22.12%. The company’s revenue was up 71.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.59 EPS.
In other Blackstone Group news, insider John G. Finley sold 5,000 shares of the stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $35.98, for a total value of $179,900.00. Following the sale, the insider now owns 113,003 shares of the company’s stock, valued at approximately $4,065,847.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Vice Chairman J Tomilson Hill sold 674,257 shares of the stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $36.48, for a total value of $24,596,895.36. Following the completion of the sale, the insider now directly owns 928,884 shares in the company, valued at approximately $33,885,688.32. The disclosure for this sale can be found here. Insiders sold a total of 770,677 shares of company stock worth $28,061,444 in the last ninety days. 1.00% of the stock is owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. Canton Hathaway LLC acquired a new stake in Blackstone Group in the 3rd quarter valued at about $114,000. Quad Cities Investment Group LLC acquired a new stake in Blackstone Group in the 2nd quarter valued at about $122,000. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in Blackstone Group in the 3rd quarter valued at about $175,000. BDO Wealth Advisors LLC acquired a new stake in Blackstone Group in the 1st quarter valued at about $154,000. Finally, Rehmann Capital Advisory Group raised its position in shares of Blackstone Group by 94.9% during the 2nd quarter. Rehmann Capital Advisory Group now owns 4,850 shares of the asset manager’s stock worth $156,000 after acquiring an additional 2,362 shares in the last quarter. 48.75% of the stock is currently owned by institutional investors.
Shares of NYSE BX traded up $0.85 during mid-day trading on Tuesday, reaching $36.00. 3,559,100 shares of the company’s stock were exchanged, compared to its average volume of 4,539,308. The stock has a market cap of $25.41 billion, a PE ratio of 12.80, a P/E/G ratio of 1.17 and a beta of 1.32. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.72. Blackstone Group has a 52-week low of $29.57 and a 52-week high of $40.60.
Blackstone Group Company Profile
The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.
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