Equities research analysts predict that The Blackstone Group L.P. (NYSE:BX) will report $1.49 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for The Blackstone Group L.P.’s earnings. The highest sales estimate is $1.59 billion and the lowest is $1.33 billion. The Blackstone Group L.P. posted sales of $1.43 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 4.2%. The firm is expected to announce its next earnings report before the market opens on Thursday, October 19th.

On average, analysts expect that The Blackstone Group L.P. will report full year sales of $1.49 billion for the current fiscal year, with estimates ranging from $6.32 billion to $6.56 billion. For the next year, analysts forecast that the business will report sales of $7.15 billion per share, with estimates ranging from $6.64 billion to $7.96 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for The Blackstone Group L.P..

The Blackstone Group L.P. (NYSE:BX) last announced its earnings results on Thursday, July 20th. The asset manager reported $0.59 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.03). The firm had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.49 billion. The Blackstone Group L.P. had a net margin of 22.88% and a return on equity of 18.97%. During the same quarter last year, the business earned $0.44 earnings per share.

Several brokerages have commented on BX. Zacks Investment Research upgraded shares of The Blackstone Group L.P. from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub cut shares of The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Vetr upgraded shares of The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $36.77 price target on the stock in a research report on Thursday, August 10th. Deutsche Bank AG boosted their price target on shares of The Blackstone Group L.P. from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Friday, July 21st. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $37.00 price target on shares of The Blackstone Group L.P. in a research report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $37.72.

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Shares of The Blackstone Group L.P. (NYSE:BX) traded down 0.54% during midday trading on Tuesday, reaching $33.08. 2,652,651 shares of the company’s stock traded hands. The stock has a market capitalization of $21.47 billion, a P/E ratio of 14.87 and a beta of 1.33. The firm’s 50-day moving average price is $32.48 and its 200 day moving average price is $32.08. The Blackstone Group L.P. has a 1-year low of $23.33 and a 1-year high of $35.09.

A number of large investors have recently added to or reduced their stakes in the business. Crow Point Partners LLC bought a new stake in shares of The Blackstone Group L.P. in the 3rd quarter valued at approximately $233,000. Neville Rodie & Shaw Inc. grew its stake in shares of The Blackstone Group L.P. by 14.6% in the 3rd quarter. Neville Rodie & Shaw Inc. now owns 30,099 shares of the asset manager’s stock valued at $1,004,000 after buying an additional 3,826 shares in the last quarter. Cacti Asset Management LLC grew its stake in shares of The Blackstone Group L.P. by 21.1% in the 3rd quarter. Cacti Asset Management LLC now owns 1,272,950 shares of the asset manager’s stock valued at $41,918,000 after buying an additional 221,558 shares in the last quarter. Frontier Investment Mgmt Co. bought a new stake in shares of The Blackstone Group L.P. in the 2nd quarter valued at approximately $748,000. Finally, Intl Fcstone Inc. bought a new stake in shares of The Blackstone Group L.P. in the 2nd quarter valued at approximately $895,000. 46.62% of the stock is currently owned by institutional investors.

About The Blackstone Group L.P.

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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Earnings History and Estimates for The Blackstone Group L.P. (NYSE:BX)

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