Wall Street analysts expect Blackstone Group LP (NYSE:BX) to report earnings of $0.77 per share for the current quarter, Zacks reports. Three analysts have issued estimates for Blackstone Group’s earnings, with the highest EPS estimate coming in at $0.82 and the lowest estimate coming in at $0.69. Blackstone Group posted earnings of $0.82 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 6.1%. The firm is scheduled to report its next quarterly earnings report on Thursday, April 19th.
According to Zacks, analysts expect that Blackstone Group will report full-year earnings of $3.10 per share for the current fiscal year, with EPS estimates ranging from $2.73 to $3.26. For the next fiscal year, analysts anticipate that the business will post earnings of $3.19 per share, with EPS estimates ranging from $2.73 to $3.55. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Blackstone Group.
Blackstone Group (NYSE:BX) last announced its earnings results on Thursday, February 1st. The asset manager reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.04. Blackstone Group had a return on equity of 22.46% and a net margin of 20.66%. The firm had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.73 billion. During the same period last year, the firm posted $0.68 EPS. The business’s revenue was up 19.9% compared to the same quarter last year.
Several equities research analysts recently weighed in on the company. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $42.00 price objective on shares of Blackstone Group in a report on Thursday, February 1st. Zacks Investment Research lowered Blackstone Group from a “hold” rating to a “sell” rating in a report on Monday, February 12th. Vetr lowered Blackstone Group from a “buy” rating to a “hold” rating and set a $32.95 price objective for the company. in a report on Wednesday, January 10th. Credit Suisse Group reissued a “buy” rating and issued a $47.00 price objective on shares of Blackstone Group in a report on Thursday, January 11th. Finally, JPMorgan Chase & Co. lowered Blackstone Group from an “overweight” rating to a “hold” rating in a report on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. Blackstone Group presently has an average rating of “Hold” and a consensus target price of $39.90.
Shares of Blackstone Group (BX) traded down $0.23 on Tuesday, reaching $34.20. The company had a trading volume of 4,420,000 shares, compared to its average volume of 6,390,000. Blackstone Group has a 52 week low of $28.45 and a 52 week high of $37.52. The stock has a market cap of $41,070.00, a price-to-earnings ratio of 15.69, a P/E/G ratio of 1.16 and a beta of 1.34. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.95.
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Monday, February 12th were paid a $0.85 dividend. The ex-dividend date of this dividend was Friday, February 9th. This represents a $3.40 annualized dividend and a yield of 9.94%. This is an increase from Blackstone Group’s previous quarterly dividend of $0.44. Blackstone Group’s dividend payout ratio (DPR) is currently 155.96%.
In other Blackstone Group news, insider John G. Finley sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $31.64, for a total value of $632,800.00. Following the completion of the transaction, the insider now owns 87,852 shares in the company, valued at approximately $2,779,637.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Group L.P. Blackstone bought 25,466 shares of the business’s stock in a transaction on Tuesday, December 26th. The stock was bought at an average price of $28.61 per share, with a total value of $728,582.26. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 639,763 shares of company stock valued at $21,985,486. 1.00% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the business. Honeywell International Inc. boosted its stake in Blackstone Group by 37.0% in the 3rd quarter. Honeywell International Inc. now owns 1,019,400 shares of the asset manager’s stock worth $34,017,000 after purchasing an additional 275,400 shares during the period. Sandy Spring Bank boosted its stake in Blackstone Group by 93.4% in the 3rd quarter. Sandy Spring Bank now owns 14,600 shares of the asset manager’s stock worth $487,000 after purchasing an additional 7,050 shares during the period. Syntal Capital Partners LLC boosted its stake in Blackstone Group by 207.7% in the 4th quarter. Syntal Capital Partners LLC now owns 29,102 shares of the asset manager’s stock worth $931,000 after purchasing an additional 19,645 shares during the period. Hilton Capital Management LLC bought a new stake in shares of Blackstone Group during the 3rd quarter valued at about $416,000. Finally, BLB&B Advisors LLC bought a new stake in shares of Blackstone Group during the 4th quarter valued at about $289,000. Institutional investors and hedge funds own 45.83% of the company’s stock.
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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