$1.70 Billion in Sales Expected for Blackstone Group LP (BX) This Quarter
Analysts predict that Blackstone Group LP (NYSE:BX) will announce $1.70 billion in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Blackstone Group’s earnings. The lowest sales estimate is $1.65 billion and the highest is $1.79 billion. Blackstone Group reported sales of $1.57 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 8.3%. The firm is scheduled to report its next quarterly earnings results on Thursday, January 25th.
According to Zacks, analysts expect that Blackstone Group will report full year sales of $1.70 billion for the current year, with estimates ranging from $6.65 billion to $6.86 billion. For the next year, analysts forecast that the company will post sales of $7.25 billion per share, with estimates ranging from $6.66 billion to $7.95 billion. Zacks’ sales calculations are an average based on a survey of research analysts that follow Blackstone Group.
Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Thursday, October 19th. The asset manager reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.14. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.39 billion. Blackstone Group had a return on equity of 19.71% and a net margin of 22.88%. The business’s revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.57 earnings per share.
Several large investors have recently made changes to their positions in BX. Jacobi Capital Management LLC acquired a new stake in Blackstone Group during the 2nd quarter valued at $116,000. Wealthcare Advisory Partners LLC acquired a new stake in Blackstone Group during the 3rd quarter valued at $131,000. Omnia Family Wealth LLC raised its stake in Blackstone Group by 0.5% during the 2nd quarter. Omnia Family Wealth LLC now owns 4,020 shares of the asset manager’s stock valued at $134,000 after purchasing an additional 20 shares during the period. Pathstone Family Office LLC acquired a new stake in Blackstone Group during the 2nd quarter valued at $167,000. Finally, Peddock Capital Advisors LLC acquired a new stake in Blackstone Group during the 2nd quarter valued at $187,000. Institutional investors own 46.91% of the company’s stock.
Shares of Blackstone Group (NYSE BX) opened at $32.14 on Wednesday. The firm has a market capitalization of $38,930.00, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 0.57 and a beta of 1.37. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.05 and a quick ratio of 1.05. Blackstone Group has a 52-week low of $26.20 and a 52-week high of $35.09.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 6th. Stockholders of record on Monday, October 30th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, October 27th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.48%. Blackstone Group’s dividend payout ratio (DPR) is presently 75.86%.
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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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