Zacks: Analysts Anticipate The Blackstone Group L.P. (BX) Will Post Quarterly Sales of $1.64 Billion

Wall Street analysts forecast that The Blackstone Group L.P. (NYSE:BX) will post $1.64 billion in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for The Blackstone Group L.P.’s earnings. The lowest sales estimate is $1.62 billion and the highest is $1.66 billion. The Blackstone Group L.P. posted sales of $1.57 billion during the same quarter last year, which suggests a positive year over year growth rate of 4.5%. The company is expected to issue its next quarterly earnings report on Thursday, January 25th.

On average, analysts expect that The Blackstone Group L.P. will report full year sales of $1.64 billion for the current year, with estimates ranging from $6.32 billion to $6.72 billion. For the next fiscal year, analysts expect that the business will report sales of $7.24 billion per share, with estimates ranging from $6.66 billion to $7.95 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for The Blackstone Group L.P..

The Blackstone Group L.P. (NYSE:BX) last issued its quarterly earnings data on Thursday, October 19th. The asset manager reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.14. The Blackstone Group L.P. had a return on equity of 19.90% and a net margin of 22.88%. The business had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the business posted $0.57 earnings per share. The company’s quarterly revenue was up 21.4% compared to the same quarter last year.

A number of research analysts recently commented on BX shares. Zacks Investment Research cut The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Morgan Stanley reiterated an “overweight” rating and issued a $37.00 price objective (up from $36.00) on shares of The Blackstone Group L.P. in a report on Monday, July 10th. Vetr cut The Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $37.57 price objective on the stock. in a report on Wednesday, July 12th. Oppenheimer Holdings, Inc. upped their price objective on The Blackstone Group L.P. from $34.00 to $38.00 and gave the company an “outperform” rating in a report on Friday, July 14th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $37.00 price objective on shares of The Blackstone Group L.P. in a report on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $38.42.

Shares of The Blackstone Group L.P. (BX) traded up 0.51% during midday trading on Friday, reaching $33.50. The company’s stock had a trading volume of 4,909,188 shares. The Blackstone Group L.P. has a one year low of $23.33 and a one year high of $35.09. The stock’s 50 day moving average price is $33.13 and its 200 day moving average price is $32.45. The firm has a market cap of $21.74 billion, a price-to-earnings ratio of 15.06 and a beta of 1.33.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Monday, October 30th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.25%. The ex-dividend date of this dividend is Friday, October 27th. The Blackstone Group L.P.’s dividend payout ratio is currently 93.51%.

Institutional investors have recently bought and sold shares of the company. Jacobi Capital Management LLC purchased a new stake in shares of The Blackstone Group L.P. during the second quarter worth $116,000. Winslow Evans & Crocker Inc. increased its position in shares of The Blackstone Group L.P. by 1.4% during the second quarter. Winslow Evans & Crocker Inc. now owns 3,500 shares of the asset manager’s stock worth $117,000 after acquiring an additional 50 shares during the period. Omnia Family Wealth LLC increased its position in shares of The Blackstone Group L.P. by 0.5% during the second quarter. Omnia Family Wealth LLC now owns 4,020 shares of the asset manager’s stock worth $134,000 after acquiring an additional 20 shares during the period. Pathstone Family Office LLC purchased a new stake in shares of The Blackstone Group L.P. during the second quarter worth $167,000. Finally, Integrated Investment Consultants LLC increased its position in shares of The Blackstone Group L.P. by 59.4% during the second quarter. Integrated Investment Consultants LLC now owns 5,100 shares of the asset manager’s stock worth $170,000 after acquiring an additional 1,900 shares during the period. 46.69% of the stock is currently owned by institutional investors and hedge funds.

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The Blackstone Group L.P. Company Profile

The Blackstone Group L.P. is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit.

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Earnings History and Estimates for The Blackstone Group L.P. (NYSE:BX)

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