$0.31 Earnings Per Share Expected for Blackstone Group LP (BX) This Quarter

Analysts forecast that Blackstone Group LP (NYSE:BX) will post earnings per share (EPS) of $0.31 for the current quarter, Zacks reports. Two analysts have made estimates for Blackstone Group’s earnings. The lowest EPS estimate is ($0.30) and the highest is $0.85. Blackstone Group posted earnings per share of $0.71 during the same quarter last year, which would indicate a negative year over year growth rate of 56.3%. The company is scheduled to announce its next quarterly earnings report before the market opens on Thursday, January 31st.

On average, analysts expect that Blackstone Group will report full-year earnings of $2.62 per share for the current financial year, with EPS estimates ranging from $2.01 to $3.16. For the next financial year, analysts forecast that the business will report earnings of $2.92 per share, with EPS estimates ranging from $2.07 to $3.43. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Blackstone Group.

Blackstone Group (NYSE:BX) last announced its quarterly earnings data on Thursday, October 18th. The asset manager reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. The firm had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.79 billion. Blackstone Group had a net margin of 22.34% and a return on equity of 22.67%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 earnings per share.

BX has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Blackstone Group from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Wednesday, October 17th. Argus boosted their price target on shares of Blackstone Group from $39.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, September 25th. Morgan Stanley lowered their price target on shares of Blackstone Group from $42.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, January 4th. JMP Securities boosted their price target on shares of Blackstone Group from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, September 24th. Finally, Deutsche Bank lowered their price target on shares of Blackstone Group from $35.00 to $34.00 and set a “hold” rating for the company in a report on Friday, November 16th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $42.54.

In related news, major shareholder Blackstone Bgsl Holdings Llc acquired 192,000 shares of Blackstone Group stock in a transaction dated Tuesday, November 6th. The stock was acquired at an average price of $25.00 per share, for a total transaction of $4,800,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in BX. Canton Hathaway LLC purchased a new stake in Blackstone Group in the 3rd quarter valued at $114,000. Harvest Fund Management Co. Ltd purchased a new stake in Blackstone Group in the 3rd quarter valued at $115,000. Rehmann Capital Advisory Group raised its position in Blackstone Group by 94.9% in the 2nd quarter. Rehmann Capital Advisory Group now owns 4,850 shares of the asset manager’s stock valued at $156,000 after purchasing an additional 2,362 shares during the last quarter. Honkamp Krueger Financial Services Inc. purchased a new stake in Blackstone Group in the 3rd quarter valued at $159,000. Finally, QCI Asset Management Inc. NY raised its position in Blackstone Group by 800.0% in the 3rd quarter. QCI Asset Management Inc. NY now owns 4,500 shares of the asset manager’s stock valued at $171,000 after purchasing an additional 4,000 shares during the last quarter. Hedge funds and other institutional investors own 49.57% of the company’s stock.

Shares of BX stock traded up $0.87 during trading on Friday, reaching $33.10. The company’s stock had a trading volume of 2,941,346 shares, compared to its average volume of 5,888,600. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $21.18 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 2.74 and a beta of 1.33. Blackstone Group has a 1-year low of $26.88 and a 1-year high of $40.60.

Blackstone Group Company Profile

The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets 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.

See Also: Investing strategies using the yield curve

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

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