$0.70 EPS Expected for Blackstone Group LP (BX) This Quarter

Wall Street analysts expect Blackstone Group LP (NYSE:BX) to announce earnings per share (EPS) of $0.70 for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Blackstone Group’s earnings, with estimates ranging from $0.63 to $0.78. Blackstone Group posted earnings of $0.68 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 2.9%. The business is scheduled to announce its next quarterly earnings results on Thursday, January 25th.

According to Zacks, analysts expect that Blackstone Group will report full year earnings of $2.80 per share for the current year, with EPS estimates ranging from $2.73 to $2.88. For the next fiscal year, analysts expect that the company will post earnings of $3.07 per share, with EPS estimates ranging from $2.70 to $3.37. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Blackstone Group.

Blackstone Group (NYSE:BX) last posted its earnings results on Thursday, October 19th. The asset manager reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.14. The business had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.39 billion. Blackstone Group had a net margin of 22.88% and a return on equity of 19.71%. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.57 earnings per share.

BX has been the topic of a number of research reports. Bank of America upped their target price on shares of Blackstone Group from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. Vetr lowered shares of Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 target price on the stock. in a research report on Monday, December 4th. Zacks Investment Research lowered shares of Blackstone Group from a “hold” rating to a “sell” rating in a research report on Monday, September 25th. Credit Suisse Group reduced their target price on shares of Blackstone Group from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 30th. Finally, Oppenheimer reiterated a “buy” rating on shares of Blackstone Group in a research report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $38.25.

In related news, insider John G. Finley sold 800 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $32.00, for a total value of $25,600.00. Following the transaction, the insider now directly owns 87,852 shares in the company, valued at $2,811,264. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider John G. Finley sold 20,000 shares of the stock in a transaction that occurred on Friday, December 15th. The shares were sold at an average price of $31.64, for a total transaction of $632,800.00. Following the completion of the transaction, the insider now owns 87,852 shares in the company, valued at $2,779,637.28. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

A number of large investors have recently modified their holdings of the business. Atlantic Trust Group LLC increased its stake in Blackstone Group by 2,189.3% in the third quarter. Atlantic Trust Group LLC now owns 1,911,552 shares of the asset manager’s stock valued at $63,787,000 after purchasing an additional 1,828,052 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in shares of Blackstone Group by 94.6% during the third quarter. Chicago Partners Investment Group LLC now owns 149,350 shares of the asset manager’s stock worth $4,984,000 after acquiring an additional 72,620 shares in the last quarter. Crestwood Advisors Group LLC increased its position in shares of Blackstone Group by 1.9% during the third quarter. Crestwood Advisors Group LLC now owns 134,611 shares of the asset manager’s stock worth $4,492,000 after acquiring an additional 2,539 shares in the last quarter. Barnett & Company Inc. increased its position in shares of Blackstone Group by 16.1% during the third quarter. Barnett & Company Inc. now owns 27,189 shares of the asset manager’s stock worth $907,000 after acquiring an additional 3,774 shares in the last quarter. Finally, Moors & Cabot Inc. increased its position in shares of Blackstone Group by 7.8% during the third quarter. Moors & Cabot Inc. now owns 116,689 shares of the asset manager’s stock worth $3,896,000 after acquiring an additional 8,414 shares in the last quarter. 46.40% of the stock is owned by hedge funds and other institutional investors.

Shares of Blackstone Group (BX) traded down $0.14 during trading on Friday, reaching $32.76. 2,672,732 shares of the company’s stock traded hands, compared to its average volume of 4,131,566. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $39,510.00, a PE ratio of 11.51, a price-to-earnings-growth ratio of 0.57 and a beta of 1.37. Blackstone Group has a 1 year low of $26.65 and a 1 year high of $35.09.

ILLEGAL ACTIVITY NOTICE: This story was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The legal version of this story can be viewed at https://www.dispatchtribunal.com/2018/01/14/0-70-eps-expected-for-blackstone-group-lp-bx-this-quarter.html.

About Blackstone Group

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.

Get a free copy of the Zacks research report on Blackstone Group (BX)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Blackstone Group (NYSE:BX)

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.

Leave a Reply