Equities analysts expect Blackstone Group LP (NYSE:BX) to report sales of $1.61 billion for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Blackstone Group’s earnings, with the highest sales estimate coming in at $1.67 billion and the lowest estimate coming in at $1.56 billion. Blackstone Group reported sales of $504.98 million in the same quarter last year, which would suggest a positive year over year growth rate of 218.8%. The company is expected to report its next earnings report on Thursday, January 30th.
On average, analysts expect that Blackstone Group will report full-year sales of $5.41 billion for the current year, with estimates ranging from $5.31 billion to $5.49 billion. For the next fiscal year, analysts expect that the firm will report sales of $7.24 billion, with estimates ranging from $6.68 billion to $7.67 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Blackstone Group.
Blackstone Group (NYSE:BX) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The company had revenue of $1.74 billion during the quarter, compared to analyst estimates of $1.31 billion. Blackstone Group had a net margin of 27.05% and a return on equity of 7.61%. The company’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS.
A number of equities research analysts have issued reports on the stock. ValuEngine lowered shares of Blackstone Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Barclays set a $53.00 price objective on shares of Blackstone Group and gave the company a “buy” rating in a research note on Friday, October 11th. Wells Fargo & Co began coverage on shares of Blackstone Group in a research note on Tuesday, October 1st. They issued an “outperform” rating and a $60.00 price objective for the company. BMO Capital Markets began coverage on shares of Blackstone Group in a research note on Monday, October 7th. They issued a “market perform” rating and a $44.00 price objective for the company. Finally, S&P Equity Research lowered shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 24th. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $52.25.
In other news, major shareholder Blackstone Group Inc bought 72,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $8.49 per share, with a total value of $611,280.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Holdings L.P. Blackstone III sold 9,129,966 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $32.75, for a total transaction of $299,006,386.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,887,858 shares of company stock valued at $589,315,400. 1.00% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Institutional & Family Asset Management LLC lifted its position in Blackstone Group by 11.8% during the 3rd quarter. Institutional & Family Asset Management LLC now owns 1,848 shares of the asset manager’s stock worth $90,000 after acquiring an additional 195 shares during the last quarter. Man Group plc increased its holdings in shares of Blackstone Group by 1,815.5% during the 3rd quarter. Man Group plc now owns 171,978 shares of the asset manager’s stock worth $8,400,000 after purchasing an additional 163,000 shares during the period. Soros Fund Management LLC bought a new position in shares of Blackstone Group during the 3rd quarter worth about $5,132,000. Stamos Capital Partners L.P. increased its holdings in shares of Blackstone Group by 20.8% during the 3rd quarter. Stamos Capital Partners L.P. now owns 40,000 shares of the asset manager’s stock worth $1,954,000 after purchasing an additional 6,889 shares during the period. Finally, Vectors Research Management LLC bought a new position in shares of Blackstone Group during the 3rd quarter worth about $49,000. 53.46% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:BX traded down $1.32 during trading on Friday, reaching $52.90. 5,670,232 shares of the company traded hands, compared to its average volume of 5,459,106. The firm has a fifty day simple moving average of $51.26 and a 200 day simple moving average of $47.55. The firm has a market cap of $35.75 billion, a P/E ratio of 23.41, a price-to-earnings-growth ratio of 1.68 and a beta of 1.45. Blackstone Group has a 1-year low of $26.88 and a 1-year high of $55.17. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.82.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 12th. Investors of record on Monday, November 4th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 3.71%. The ex-dividend date of this dividend was Friday, November 1st. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.48. Blackstone Group’s payout ratio is presently 86.73%.
Blackstone Group Company Profile
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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