Equities analysts predict that Blackstone Group LP (NYSE:BX) will announce $0.69 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Blackstone Group’s earnings, with estimates ranging from $0.55 to $0.85. Blackstone Group posted earnings of $0.71 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 2.8%. The company is scheduled to announce its next earnings results on Thursday, February 7th.
According to Zacks, analysts expect that Blackstone Group will report full-year earnings of $2.87 per share for the current fiscal year, with EPS estimates ranging from $2.37 to $3.08. For the next year, analysts expect that the business will post earnings of $3.12 per share, with EPS estimates ranging from $2.19 to $3.45. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Blackstone Group.
Blackstone Group (NYSE:BX) last announced its quarterly earnings data on Thursday, October 18th. The asset manager reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.02. Blackstone Group had a return on equity of 22.99% and a net margin of 22.34%. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.79 billion. During the same period in the previous year, the business earned $0.69 earnings per share. The business’s revenue was up 11.1% on a year-over-year basis.
Several brokerages have recently commented on BX. Bank of America boosted their price objective on Blackstone Group from $40.00 to $46.00 and gave the company a “buy” rating in a research report on Monday, September 24th. Argus boosted their price objective on Blackstone Group from $39.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, September 25th. ValuEngine upgraded Blackstone Group from a “hold” rating to a “buy” rating in a research report on Saturday, September 22nd. Citigroup boosted their price objective on Blackstone Group from $43.00 to $47.50 and gave the company a “buy” rating in a research report on Monday, September 24th. Finally, JMP Securities boosted their price objective on Blackstone Group from $39.00 to $43.00 and gave the company an “outperform” rating in a research report on Monday, September 24th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $43.45.
In related news, insider John G. Finley sold 10,000 shares of the business’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $35.76, for a total value of $357,600.00. Following the sale, the insider now directly owns 113,003 shares in the company, valued at $4,040,987.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Vice Chairman J Tomilson Hill sold 81,420 shares of the business’s stock in a transaction dated Thursday, August 16th. The stock was sold at an average price of $35.95, for a total value of $2,927,049.00. Following the completion of the sale, the insider now owns 928,884 shares in the company, valued at $33,393,379.80. The disclosure for this sale can be found here. Insiders sold 765,677 shares of company stock worth $27,881,544 over the last quarter. 1.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. JRM Investment Counsel LLC increased its stake in Blackstone Group by 2.2% during the third quarter. JRM Investment Counsel LLC now owns 240,158 shares of the asset manager’s stock worth $9,145,000 after acquiring an additional 5,281 shares during the last quarter. Strategic Wealth Advisors Group LLC bought a new stake in Blackstone Group during the third quarter worth approximately $1,913,000. ING Groep NV increased its stake in Blackstone Group by 234.9% during the third quarter. ING Groep NV now owns 2,040,300 shares of the asset manager’s stock worth $77,695,000 after acquiring an additional 1,431,100 shares during the last quarter. QCI Asset Management Inc. NY increased its stake in 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 worth $171,000 after acquiring an additional 4,000 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in Blackstone Group by 91.9% during the third quarter. SRS Capital Advisors Inc. now owns 7,194 shares of the asset manager’s stock worth $274,000 after acquiring an additional 3,445 shares during the last quarter. 48.75% of the stock is currently owned by institutional investors.
Shares of Blackstone Group stock traded up $0.69 during trading hours on Friday, hitting $34.97. The company’s stock had a trading volume of 2,442,062 shares, compared to its average volume of 5,999,449. Blackstone Group has a 12-month low of $29.57 and a 12-month high of $40.60. The company has a market capitalization of $22.15 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 1.11 and a beta of 1.39. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.72.
The company also recently announced a quarterly dividend, which was paid on Monday, November 5th. Investors of record on Monday, October 29th were given a $0.64 dividend. This is an increase 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 7.32%. The ex-dividend date of this dividend was Friday, October 26th. Blackstone Group’s payout ratio is currently 91.10%.
About Blackstone Group
The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory 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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