Zacks: Analysts Anticipate Blackstone Group LP (BX) Will Announce Earnings of $0.70 Per Share

Analysts expect that Blackstone Group LP (NYSE:BX) will post earnings of $0.70 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Blackstone Group’s earnings. The lowest EPS estimate is $0.63 and the highest is $0.78. Blackstone Group posted earnings per share of $0.68 during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.9%. The company is scheduled to report its next quarterly earnings report on Thursday, January 25th.

According to Zacks, analysts expect that Blackstone Group will report full-year earnings of $2.80 per share for the current financial year, with EPS estimates ranging from $2.73 to $2.88. For the next fiscal year, analysts forecast that the firm will report earnings of $3.07 per share, with EPS estimates ranging from $2.70 to $3.37. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Blackstone Group.

Blackstone Group (NYSE:BX) last released its earnings results on Thursday, October 19th. The asset manager reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.14. The company had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.39 billion. Blackstone Group had a net margin of 22.88% and a return on equity of 19.71%. Blackstone Group’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same period last year, the business earned $0.57 EPS.

Several equities analysts have recently weighed in on the stock. Vetr lowered shares of Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 target price for the company. in a report on Monday, December 4th. Morgan Stanley lifted their target price on shares of Blackstone Group from $40.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, October 23rd. Bank of America lifted their target price on shares of Blackstone Group from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, October 20th. Oppenheimer reaffirmed a “buy” rating on shares of Blackstone Group in a report on Thursday, October 19th. Finally, Zacks Investment Research raised shares of Blackstone Group from a “sell” rating to a “hold” rating in a report on Monday, October 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $38.25.

Blackstone Group (NYSE BX) traded down $0.14 on Friday, reaching $32.76. 2,673,712 shares of the company’s stock were exchanged, compared to its average volume of 4,125,664. Blackstone Group has a 12 month low of $26.65 and a 12 month high of $35.09. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.95. The stock has a market cap of $39,340.00, a price-to-earnings ratio of 14.12, a PEG ratio of 0.59 and a beta of 1.37.

In other news, insider John G. Finley sold 800 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $32.00, for a total transaction of $25,600.00. Following the transaction, the insider now owns 87,852 shares of the company’s stock, valued at approximately $2,811,264. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John G. Finley sold 20,000 shares of the business’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $31.64, for a total transaction of $632,800.00. Following the transaction, the insider now directly owns 87,852 shares in the company, valued at approximately $2,779,637.28. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in BX. Jacobi Capital Management LLC acquired a new position in shares of Blackstone Group during the 2nd quarter valued at about $116,000. Wealthcare Advisory Partners LLC acquired a new position in shares of Blackstone Group during the 3rd quarter valued at about $131,000. Omnia Family Wealth LLC boosted its position in shares of Blackstone Group by 0.5% during the 2nd quarter. Omnia Family Wealth LLC now owns 4,020 shares of the asset manager’s stock valued at $134,000 after acquiring an additional 20 shares during the last quarter. Pathstone Family Office LLC acquired a new position in shares of Blackstone Group during the 2nd quarter valued at about $167,000. Finally, Strategic Financial Group LLC acquired a new position in shares of Blackstone Group during the 3rd quarter valued at about $200,000. 46.40% of the stock is currently owned by hedge funds and other institutional investors.

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About Blackstone Group

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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