Zacks: Brokerages Anticipate Blackstone Group LP (BX) Will Post Earnings of $0.66 Per Share

Wall Street brokerages forecast that Blackstone Group LP (NYSE:BX) will report $0.66 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Blackstone Group’s earnings. The highest EPS estimate is $0.85 and the lowest is $0.55. Blackstone Group reported earnings of $0.71 per share during the same quarter last year, which would indicate a negative year over year growth rate of 7%. The business is expected to announce its next quarterly earnings report on Thursday, February 7th.

On average, analysts expect that Blackstone Group will report full-year earnings of $2.96 per share for the current year, with EPS estimates ranging from $2.85 to $3.16. For the next financial year, analysts expect that the company will report earnings of $3.17 per share, with EPS estimates ranging from $2.19 to $3.43. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Blackstone Group.

Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, October 18th. The asset manager reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.02. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.79 billion. Blackstone Group had a net margin of 22.34% and a return on equity of 22.67%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the firm posted $0.69 earnings per share.

Several equities research analysts recently issued reports on BX shares. Bank of America raised their price objective on shares of Blackstone Group from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, September 24th. Argus raised their price objective on shares of Blackstone Group from $39.00 to $46.00 and gave the stock a “buy” rating in a research report on Tuesday, September 25th. Citigroup raised their price objective on shares of Blackstone Group from $43.00 to $47.50 and gave the stock a “buy” rating in a research report on Monday, September 24th. ValuEngine upgraded shares of Blackstone Group from a “hold” rating to a “buy” rating in a research report on Saturday, September 22nd. Finally, Morgan Stanley raised their price objective on shares of Blackstone Group from $42.00 to $48.00 and gave the stock an “overweight” rating in a research report on Monday, September 24th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $42.27.

In related news, major shareholder Blackstone Bgsl Holdings Llc purchased 192,000 shares of the company’s stock in a transaction on Tuesday, November 6th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $4,800,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Canton Hathaway LLC purchased a new position in shares of Blackstone Group in the third quarter valued at approximately $114,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Blackstone Group in the third quarter valued at approximately $115,000. Quad Cities Investment Group LLC purchased a new position in shares of Blackstone Group in the second quarter valued at approximately $122,000. Rehmann Capital Advisory Group boosted its stake in shares of Blackstone Group by 94.9% in the second quarter. Rehmann Capital Advisory Group now owns 4,850 shares of the asset manager’s stock valued at $156,000 after purchasing an additional 2,362 shares during the period. Finally, Honkamp Krueger Financial Services Inc. purchased a new position in shares of Blackstone Group in the third quarter valued at approximately $159,000. Institutional investors and hedge funds own 49.39% of the company’s stock.

Shares of NYSE BX traded down $0.02 during mid-day trading on Friday, reaching $33.73. The company’s stock had a trading volume of 3,320,792 shares, compared to its average volume of 4,519,118. The stock has a market capitalization of $22.34 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 1.10 and a beta of 1.39. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.71. Blackstone Group has a 1-year low of $30.08 and a 1-year high of $40.60.

The business also recently declared a quarterly dividend, which was paid on Monday, November 5th. Shareholders of record on Monday, October 29th were given a dividend of $0.64 per share. The ex-dividend date of this dividend was Friday, October 26th. This is a boost from Blackstone Group’s previous quarterly dividend of $0.58. This represents a $2.56 dividend on an annualized basis and a dividend yield of 7.59%. Blackstone Group’s dividend payout ratio (DPR) is currently 91.10%.

About Blackstone Group

The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets 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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