Equities research analysts predict that Blackstone Group LP (NYSE:BX) will report earnings per share of $0.70 for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Blackstone Group’s earnings, with the highest EPS estimate coming in at $0.81 and the lowest estimate coming in at $0.65. Blackstone Group posted earnings per share of $0.68 in the same quarter last year, which suggests a positive year over year growth rate of 2.9%. The company is expected to announce its next quarterly earnings report before the market opens on Thursday, February 1st.
According to Zacks, analysts expect that Blackstone Group will report full-year earnings of $2.81 per share for the current fiscal year, with EPS estimates ranging from $2.76 to $2.92. For the next year, analysts expect that the company will report earnings of $3.09 per share, with EPS estimates ranging from $2.88 to $3.32. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Blackstone Group.
A number of research firms have issued reports on BX. JPMorgan Chase & Co. upgraded Blackstone Group from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $34.53 to $46.00 in a report on Friday, January 12th. Credit Suisse Group restated a “buy” rating and set a $47.00 price target on shares of Blackstone Group in a report on Thursday, January 11th. Vetr lowered Blackstone Group from a “buy” rating to a “hold” rating and set a $32.95 target price on the stock. in a research report on Wednesday, January 10th. Morgan Stanley upped their target price on Blackstone Group from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, October 23rd. Finally, Bank of America upped their target price on Blackstone Group from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $39.40.
Blackstone Group (NYSE BX) traded down $0.43 during trading on Thursday, hitting $36.13. The company’s stock had a trading volume of 6,110,000 shares, compared to its average volume of 5,030,000. The company has a market cap of $43,380.00, a PE ratio of 15.57, a price-to-earnings-growth ratio of 0.69 and a beta of 1.37. Blackstone Group has a 52-week low of $28.45 and a 52-week high of $37.00. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.05 and a quick ratio of 1.05.
In related news, major shareholder Group L.P. Blackstone purchased 25,466 shares of the stock in a transaction that occurred on Tuesday, December 26th. The stock was acquired at an average cost of $28.61 per share, with a total value of $728,582.26. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider John G. Finley sold 20,000 shares of the stock in a transaction on Friday, December 15th. The shares were sold at an average price of $31.64, for a total value of $632,800.00. Following the completion of the sale, the insider now directly owns 87,852 shares of the company’s stock, valued at $2,779,637.28. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC purchased a new stake in Blackstone Group in the 3rd quarter valued at $131,000. Jacobi Capital Management LLC raised its position in Blackstone Group by 65.6% in the 3rd quarter. Jacobi Capital Management LLC now owns 5,771 shares of the asset manager’s stock valued at $192,000 after buying an additional 2,287 shares during the last quarter. Strategic Financial Group LLC purchased a new stake in Blackstone Group in the 3rd quarter valued at $200,000. New England Private Wealth Advisors LLC purchased a new stake in Blackstone Group in the 3rd quarter valued at $200,000. Finally, United Asset Strategies Inc. purchased a new stake in Blackstone Group in the 3rd quarter valued at $206,000. 48.09% of the stock is owned by institutional investors and hedge funds.
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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.
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