Wall Street brokerages predict that Blackstone Group LP (NYSE:BX) will report earnings of $0.50 per share for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Blackstone Group’s earnings, with estimates ranging from $0.44 to $0.57. Blackstone Group posted earnings of $0.58 per share in the same quarter last year, which suggests a negative year over year growth rate of 13.8%. The firm is expected to report its next quarterly earnings report on Wednesday, October 28th.
According to Zacks, analysts expect that Blackstone Group will report full year earnings of $2.01 per share for the current financial year, with EPS estimates ranging from $1.82 to $2.14. For the next fiscal year, analysts expect that the business will report earnings of $2.78 per share, with EPS estimates ranging from $2.32 to $3.05. Zacks’ EPS averages are a mean average based on a survey of analysts that that provide coverage for Blackstone Group.
Blackstone Group (NYSE:BX) last announced its earnings results on Thursday, July 23rd. The asset manager reported $0.43 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.43. The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Blackstone Group had a net margin of 27.93% and a return on equity of 14.38%. The firm’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the company posted $0.57 EPS.
In related news, insider John G. Finley sold 40,000 shares of Blackstone Group stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $54.07, for a total transaction of $2,162,800.00. Following the transaction, the insider now owns 211,880 shares of the company’s stock, valued at approximately $11,456,351.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Baratta sold 434,815 shares of Blackstone Group stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $53.00, for a total transaction of $23,045,195.00. Following the transaction, the director now directly owns 1,613,448 shares in the company, valued at approximately $85,512,744. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Blackstone Group by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 38,917,680 shares of the asset manager’s stock worth $2,205,076,000 after acquiring an additional 310,661 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Blackstone Group by 69.4% in the 1st quarter. Wellington Management Group LLP now owns 26,841,950 shares of the asset manager’s stock valued at $1,223,190,000 after purchasing an additional 10,996,707 shares during the last quarter. Morgan Stanley lifted its stake in shares of Blackstone Group by 2.4% in the 1st quarter. Morgan Stanley now owns 18,310,670 shares of the asset manager’s stock valued at $834,417,000 after purchasing an additional 437,363 shares during the last quarter. Capital International Investors lifted its stake in shares of Blackstone Group by 16.2% in the 1st quarter. Capital International Investors now owns 15,799,469 shares of the asset manager’s stock valued at $719,982,000 after purchasing an additional 2,199,153 shares during the last quarter. Finally, Bessemer Group Inc. lifted its stake in shares of Blackstone Group by 4.4% in the 2nd quarter. Bessemer Group Inc. now owns 7,779,243 shares of the asset manager’s stock valued at $440,770,000 after purchasing an additional 325,862 shares during the last quarter. 59.47% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Blackstone Group stock traded up $0.48 during mid-day trading on Friday, reaching $51.78. 38,344 shares of the stock were exchanged, compared to its average volume of 4,835,118. The company has a market cap of $34.42 billion, a price-to-earnings ratio of 47.06 and a beta of 1.30. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.88. The firm has a 50-day simple moving average of $52.78 and a 200 day simple moving average of $52.13. Blackstone Group has a fifty-two week low of $33.00 and a fifty-two week high of $64.97.
About Blackstone Group
The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia.
Further Reading: What is the Coverage Ratio?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Blackstone Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone Group and related companies with MarketBeat.com's FREE daily email newsletter.