Analysts Expect Blackstone Group LP (BX) to Announce $0.66 Earnings Per Share

Wall Street analysts predict that Blackstone Group LP (NYSE:BX) will report earnings per share of $0.66 for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Blackstone Group’s earnings, with estimates ranging from $0.55 to $0.85. Blackstone Group posted earnings per share of $0.71 in the same quarter last year, which indicates a negative year over year growth rate of 7%. The company is scheduled to issue its next earnings report on Thursday, February 7th.

According to Zacks, analysts expect that Blackstone Group will report full-year earnings of $2.96 per share for the current fiscal year, with EPS estimates ranging from $2.85 to $3.16. For the next fiscal year, analysts forecast that the business will post earnings of $3.17 per share, with EPS estimates ranging from $2.19 to $3.43. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Blackstone Group.

Blackstone Group (NYSE:BX) last released its earnings results on Thursday, October 18th. The asset manager reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.02. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.79 billion. Blackstone Group had a return on equity of 22.67% and a net margin of 22.34%. Blackstone Group’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.69 earnings per share.

A number of equities research analysts have commented on BX shares. JMP Securities lifted their price target on Blackstone Group from $39.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, September 24th. Morgan Stanley restated a “buy” rating on shares of Blackstone Group in a report on Friday, September 14th. ValuEngine upgraded Blackstone Group from a “hold” rating to a “buy” rating in a report on Saturday, September 22nd. Zacks Investment Research upgraded Blackstone Group from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Thursday, August 16th. Finally, Oppenheimer set a $44.00 target price on Blackstone Group and gave the stock a “buy” rating in a report on Tuesday, October 16th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Blackstone Group presently has an average rating of “Buy” and an average target price of $42.27.

In related news, major shareholder Blackstone Bgsl Holdings Llc purchased 192,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The shares were acquired at an average price of $25.00 per share, with a total value of $4,800,000.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.00% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Canton Hathaway LLC acquired a new position in shares of Blackstone Group during the third quarter valued at $114,000. Harvest Fund Management Co. Ltd acquired a new position in shares of Blackstone Group during the third quarter valued at $115,000. Quad Cities Investment Group LLC acquired a new position in shares of Blackstone Group during the second quarter valued at $122,000. Honkamp Krueger Financial Services Inc. acquired a new position in shares of Blackstone Group during the third quarter valued at $159,000. Finally, QCI Asset Management Inc. NY lifted its stake in shares of Blackstone Group by 800.0% during the third quarter. QCI Asset Management Inc. NY now owns 4,500 shares of the asset manager’s stock valued at $171,000 after acquiring an additional 4,000 shares during the period. 49.39% of the stock is currently owned by institutional investors.

BX traded up $0.75 during trading on Friday, reaching $33.18. The company had a trading volume of 1,886,292 shares, compared to its average volume of 4,885,413. The stock has a market capitalization of $21.97 billion, a P/E ratio of 11.81, a P/E/G ratio of 1.08 and a beta of 1.39. Blackstone Group has a 12-month low of $30.08 and a 12-month high of $40.60. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.71.

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 5th. Stockholders of record on Monday, October 29th were given a dividend of $0.64 per share. The ex-dividend date 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 7.72%. Blackstone Group’s payout ratio 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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