Brokerages expect that Blackstone Group LP (NYSE:BX) will announce $0.69 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for Blackstone Group’s earnings, with the lowest EPS estimate coming in at $0.65 and the highest estimate coming in at $0.73. Blackstone Group posted earnings per share of ($0.02) in the same quarter last year, which indicates a positive year over year growth rate of 3,550%. The firm is expected to report its next earnings results on Thursday, January 30th.
On average, analysts expect that Blackstone Group will report full year earnings of $2.28 per share for the current year, with EPS estimates ranging from $2.23 to $2.36. For the next fiscal year, analysts forecast that the firm will report earnings of $3.05 per share, with EPS estimates ranging from $2.84 to $3.22. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that cover Blackstone Group.
Blackstone Group (NYSE:BX) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.05. Blackstone Group had a return on equity of 7.61% and a net margin of 27.05%. The business had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period last year, the company earned $0.63 EPS. Blackstone Group’s revenue for the quarter was down 9.9% compared to the same quarter last year.
A number of equities research analysts have commented on BX shares. Bank of America downgraded shares of Blackstone Group from a “buy” rating to a “neutral” rating and cut their target price for the stock from $54.00 to $52.00 in a research report on Monday, October 14th. Wells Fargo & Co upped their price objective on Blackstone Group from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Thursday. S&P Equity Research cut Blackstone Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 24th. ValuEngine lowered Blackstone Group from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Morgan Stanley restated an “overweight” rating and issued a $60.00 price target (up previously from $57.00) on shares of Blackstone Group in a research report on Friday, October 25th. Nine research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Blackstone Group has an average rating of “Hold” and an average target price of $55.13.
Shares of NYSE BX traded up $0.92 during midday trading on Thursday, hitting $55.54. The stock had a trading volume of 2,057,561 shares, compared to its average volume of 5,357,946. The company has a market cap of $35.36 billion, a P/E ratio of 24.58, a PEG ratio of 1.41 and a beta of 1.45. Blackstone Group has a 52 week low of $26.88 and a 52 week high of $55.21. 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 business’s 50 day moving average is $53.04 and its 200-day moving average is $48.84.
In other Blackstone Group news, Vice Chairman Hamilton E. James sold 280,046 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $51.73, for a total value of $14,486,779.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Holdings L.P. Blackstone III sold 9,129,966 shares of the stock in a transaction dated Friday, September 20th. The shares were 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. Insiders have sold a total of 25,738,069 shares of company stock worth $610,157,678 in the last three months. 1.00% of the stock is owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Cypress Capital Management LLC WY purchased a new position in shares of Blackstone Group in the 2nd quarter worth $25,000. Burt Wealth Advisors purchased a new stake in Blackstone Group during the third quarter valued at approximately $26,000. Lenox Wealth Advisors LLC purchased a new stake in Blackstone Group during the third quarter valued at approximately $28,000. Hartford Financial Management Inc. bought a new stake in shares of Blackstone Group in the 3rd quarter valued at approximately $30,000. Finally, TCI Wealth Advisors Inc. bought a new stake in shares of Blackstone Group in the 3rd quarter valued at approximately $32,000. Hedge funds and other institutional investors own 53.38% of the company’s stock.
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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