Brokerages Expect Blackstone Group LP (BX) to Announce $0.77 EPS

Wall Street analysts expect Blackstone Group LP (NYSE:BX) to post earnings per share (EPS) of $0.77 for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Blackstone Group’s earnings. The lowest EPS estimate is $0.69 and the highest is $0.82. Blackstone Group reported earnings of $0.82 per share in the same quarter last year, which would indicate a negative year over year growth rate of 6.1%. The business is scheduled to announce its next quarterly earnings report on Thursday, April 19th.

On average, 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 financial year, analysts forecast 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 a mean average based on a survey of sell-side research firms that that provide coverage for Blackstone Group.

Blackstone Group (NYSE:BX) last announced its earnings results on Thursday, February 1st. The asset manager reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. The firm had revenue of $1.88 billion for the quarter, compared to analyst estimates of $1.73 billion. Blackstone Group had a net margin of 20.66% and a return on equity of 22.46%. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.68 EPS.

A number of equities research analysts have recently weighed in on BX shares. Credit Suisse Group reaffirmed a “buy” rating and set a $47.00 target price on shares of Blackstone Group in a research note on Thursday, January 11th. Bank of America lifted their price target on shares of Blackstone Group from $38.00 to $40.00 and gave the company a “buy” rating in a research report on Friday, October 20th. Vetr cut shares of Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 price target for the company. in a research report on Monday, December 4th. JPMorgan Chase & Co. raised shares of Blackstone Group from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $34.53 to $46.00 in a research report on Friday, January 12th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $42.00 price target on shares of Blackstone Group in a research report on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $39.90.

Shares of Blackstone Group (NYSE BX) opened at $32.95 on Friday. The firm has a market cap of $39,570.00, a PE ratio of 15.11, a PEG ratio of 1.15 and a beta of 1.34. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.05 and a current ratio of 1.05. Blackstone Group has a 52 week low of $28.45 and a 52 week high of $37.52.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, February 12th will be given a dividend of $0.85 per share. This is a boost from Blackstone Group’s previous quarterly dividend of $0.44. This represents a $3.40 dividend on an annualized basis and a yield of 10.32%. The ex-dividend date is Friday, February 9th. Blackstone Group’s dividend payout ratio (DPR) is 80.73%.

In other news, major shareholder Group L.P. Blackstone bought 228,535 shares of the firm’s stock in a transaction on Thursday, December 28th. The stock was acquired at an average cost of $29.63 per share, with a total value of $6,771,492.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John G. Finley sold 800 shares of Blackstone Group stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $32.00, for a total transaction of $25,600.00. Following the completion of the transaction, the insider now directly owns 87,852 shares of the company’s stock, valued at $2,811,264. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Honeywell International Inc. raised its holdings in Blackstone Group by 37.0% in the third quarter. Honeywell International Inc. now owns 1,019,400 shares of the asset manager’s stock worth $34,017,000 after buying an additional 275,400 shares during the last quarter. Sandy Spring Bank raised its holdings in Blackstone Group by 93.4% in the third quarter. Sandy Spring Bank now owns 14,600 shares of the asset manager’s stock worth $487,000 after buying an additional 7,050 shares during the last quarter. Hilton Capital Management LLC purchased a new position in Blackstone Group in the third quarter worth about $416,000. BLB&B Advisors LLC purchased a new position in Blackstone Group in the fourth quarter worth about $289,000. Finally, Neuberger Berman Group LLC raised its holdings in Blackstone Group by 135.5% in the third quarter. Neuberger Berman Group LLC now owns 1,942,237 shares of the asset manager’s stock worth $64,812,000 after buying an additional 1,117,412 shares during the last quarter. 48.08% of the stock is owned by institutional investors and hedge funds.

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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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Earnings History and Estimates for Blackstone Group (NYSE:BX)

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