Zacks: Analysts Expect Blackstone Group LP (BX) Will Announce Earnings of $0.75 Per Share
Wall Street brokerages forecast that Blackstone Group LP (NYSE:BX) will announce earnings of $0.75 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Blackstone Group’s earnings. The lowest EPS estimate is $0.69 and the highest is $0.81. Blackstone Group reported earnings per share of $0.69 in the same quarter last year, which would suggest a positive year over year growth rate of 8.7%. The business is expected to issue its next earnings report on Thursday, October 18th.
On average, analysts expect that Blackstone Group will report full-year earnings of $3.08 per share for the current fiscal year, with EPS estimates ranging from $2.94 to $3.23. For the next year, analysts expect that the company will post earnings of $3.15 per share, with EPS estimates ranging from $2.21 to $3.43. Zacks’ EPS averages are a mean average based on a survey of analysts that cover Blackstone Group.
Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Thursday, July 19th. The asset manager reported $0.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.17. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $1.74 billion. Blackstone Group had a net margin of 22.12% and a return on equity of 22.64%. The company’s quarterly revenue was up 71.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 EPS.
Blackstone Group stock traded down $0.41 during mid-day trading on Friday, reaching $38.16. 165,982 shares of the company traded hands, compared to its average volume of 3,361,869. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.72. The company has a market cap of $26.05 billion, a P/E ratio of 13.63, a PEG ratio of 1.20 and a beta of 1.37. Blackstone Group has a 52-week low of $29.57 and a 52-week high of $40.60.
In related news, insider John G. Finley sold 10,000 shares of the company’s stock in a transaction dated Friday, August 10th. The shares were sold at an average price of $35.76, for a total value of $357,600.00. Following the transaction, the insider now owns 113,003 shares in the company, valued at approximately $4,040,987.28. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman J Tomilson Hill sold 81,420 shares of the company’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $35.95, for a total transaction of $2,927,049.00. Following the completion of the transaction, the insider now owns 928,884 shares in the company, valued at approximately $33,393,379.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 770,677 shares of company stock worth $28,061,444. Company insiders own 1.00% of the company’s stock.
A number of institutional investors have recently made changes to their positions in BX. Natixis boosted its stake in Blackstone Group by 43,717.6% in the 1st quarter. Natixis now owns 3,350,295 shares of the asset manager’s stock worth $105,853,000 after purchasing an additional 3,342,649 shares in the last quarter. Cornerstone Wealth Management LLC lifted its stake in Blackstone Group by 3,337.0% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 1,846,134 shares of the asset manager’s stock valued at $55,672,000 after acquiring an additional 1,792,420 shares during the period. OppenheimerFunds Inc. bought a new position in Blackstone Group during the 1st quarter valued at about $34,627,000. ING Groep NV bought a new position in Blackstone Group during the 2nd quarter valued at about $19,598,000. Finally, Russell Investments Group Ltd. lifted its stake in Blackstone Group by 28.9% during the 1st quarter. Russell Investments Group Ltd. now owns 2,692,569 shares of the asset manager’s stock valued at $86,026,000 after acquiring an additional 604,211 shares during the period. Institutional investors own 48.75% of the company’s stock.
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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