Analysts forecast that Blackstone Group LP (NYSE:BX) will post earnings per share of $0.61 for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Blackstone Group’s earnings, with estimates ranging from $0.52 to $0.72. Blackstone Group reported earnings of $0.44 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 38.6%. The firm is expected to report its next earnings report on Thursday, July 20th.
According to Zacks, analysts expect that Blackstone Group will report full year earnings of $2.75 per share for the current financial year, with EPS estimates ranging from $2.51 to $2.96. For the next financial year, analysts forecast that the business will post earnings of $3.06 per share, with EPS estimates ranging from $2.68 to $3.61. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Blackstone Group.
Blackstone Group (NYSE:BX) last released its quarterly earnings results on Thursday, April 20th. The asset manager reported $0.82 EPS for the quarter, topping the consensus estimate of $0.69 by $0.13. Blackstone Group had a return on equity of 15.59% and a net margin of 20.08%. The business had revenue of $1.94 billion during the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the business posted $0.31 earnings per share. The company’s quarterly revenue was up 108.1% on a year-over-year basis.
A number of research firms have recently commented on BX. Jefferies Group LLC restated a “buy” rating on shares of Blackstone Group in a report on Thursday, April 27th. Zacks Investment Research downgraded Blackstone Group from a “buy” rating to a “hold” rating in a report on Tuesday, January 31st. Vetr upgraded Blackstone Group from a “buy” rating to a “strong-buy” rating and set a $34.51 price objective for the company in a report on Tuesday, May 2nd. Credit Suisse Group AG set a $40.00 price target on Blackstone Group and gave the company a “buy” rating in a report on Wednesday, February 8th. Finally, Barclays PLC reiterated a “buy” rating and issued a $34.00 price target on shares of Blackstone Group in a report on Sunday, January 15th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $33.31.
In other Blackstone Group news, Director Bennett J. Goodman sold 635,075 shares of the company’s stock in a transaction dated Friday, February 10th. The shares were sold at an average price of $30.26, for a total value of $19,217,369.50. Following the completion of the transaction, the director now directly owns 315,331 shares of the company’s stock, valued at approximately $9,541,916.06. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider John G. Finley sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 15th. The shares were sold at an average price of $30.72, for a total transaction of $614,400.00. Following the completion of the transaction, the insider now directly owns 161,556 shares of the company’s stock, valued at $4,963,000.32. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.
Several institutional investors have recently modified their holdings of BX. Pittenger & Anderson Inc. boosted its position in shares of Blackstone Group by 12.7% in the fourth quarter. Pittenger & Anderson Inc. now owns 4,000 shares of the asset manager’s stock valued at $108,000 after buying an additional 450 shares during the last quarter. Advantage Investment Management LLC bought a new position in shares of Blackstone Group during the fourth quarter valued at approximately $111,000. TCI Wealth Advisors Inc. boosted its position in shares of Blackstone Group by 1.3% in the third quarter. TCI Wealth Advisors Inc. now owns 5,140 shares of the asset manager’s stock valued at $131,000 after buying an additional 66 shares during the last quarter. Israel Discount Bank of New York GFN bought a new position in shares of Blackstone Group during the fourth quarter valued at approximately $135,000. Finally, Hudock Capital Group LLC boosted its position in shares of Blackstone Group by 20.2% in the first quarter. Hudock Capital Group LLC now owns 4,726 shares of the asset manager’s stock valued at $140,000 after buying an additional 793 shares during the last quarter. 43.26% of the stock is currently owned by institutional investors and hedge funds.
Blackstone Group (NYSE:BX) opened at 29.99 on Wednesday. The stock’s 50 day moving average price is $29.98 and its 200 day moving average price is $28.76. The stock has a market capitalization of $19.26 billion, a price-to-earnings ratio of 15.70 and a beta of 1.42. Blackstone Group has a 52-week low of $22.45 and a 52-week high of $31.69.
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 8th. Shareholders of record on Monday, May 1st were given a $0.87 dividend. This is a boost from Blackstone Group’s previous quarterly dividend of $0.47. This represents a $3.48 dividend on an annualized basis and a yield of 11.60%. The ex-dividend date of this dividend was Thursday, April 27th. Blackstone Group’s dividend payout ratio is presently 121.29%.
Blackstone Group Company Profile
The Blackstone Group L.P. is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit.
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