Brokerages Expect Blackstone Group LP (BX) Will Announce Quarterly Sales of $1.80 Billion

Equities research analysts expect Blackstone Group LP (NYSE:BX) to post $1.80 billion in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Blackstone Group’s earnings, with the lowest sales estimate coming in at $1.74 billion and the highest estimate coming in at $1.91 billion. Blackstone Group reported sales of $1.94 billion in the same quarter last year, which would suggest a negative year-over-year growth rate of 7.2%. The business is expected to announce its next earnings report on Thursday, April 19th.

On average, analysts expect that Blackstone Group will report full-year sales of $1.80 billion for the current fiscal year, with estimates ranging from $6.81 billion to $7.69 billion. For the next year, analysts anticipate that the business will post sales of $7.76 billion per share, with estimates ranging from $7.41 billion to $8.39 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Blackstone Group.

Blackstone Group (NYSE:BX) last posted its earnings results on Thursday, February 1st. The asset manager reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.04. The firm had revenue of $1.88 billion during 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 business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.68 EPS.

Several equities analysts have recently weighed in on BX shares. Bank of America lifted their target price on shares of Blackstone Group from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, October 20th. Oppenheimer reaffirmed a “buy” rating on shares of Blackstone Group in a report on Thursday, October 19th. Vetr lowered shares of Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 target price for the company. in a report on Monday, November 20th. Credit Suisse Group reissued a “buy” rating and issued a $47.00 price target on shares of Blackstone Group in a report on Thursday, January 11th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $42.00 price target on shares of Blackstone Group in a report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $39.90.

In other Blackstone Group news, insider John G. Finley sold 20,000 shares of Blackstone Group stock in a transaction on Friday, December 15th. The shares were sold at an average price of $31.64, for a total transaction of $632,800.00. Following the sale, the insider now owns 87,852 shares of the company’s stock, valued at approximately $2,779,637.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Group L.P. Blackstone bought 25,466 shares of the stock in a transaction on Tuesday, December 26th. The shares were acquired at an average cost of $28.61 per share, for a total transaction of $728,582.26. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can boosted its stake in Blackstone Group by 77.0% during the 4th quarter. Bank of Montreal Can now owns 22,232,729 shares of the asset manager’s stock worth $711,892,000 after purchasing an additional 9,669,716 shares during the last quarter. Swedbank boosted its stake in Blackstone Group by 14.6% during the 3rd quarter. Swedbank now owns 5,433,122 shares of the asset manager’s stock worth $181,303,000 after purchasing an additional 693,200 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Blackstone Group by 4.6% during the 3rd quarter. Wells Fargo & Company MN now owns 3,673,160 shares of the asset manager’s stock worth $122,573,000 after purchasing an additional 162,768 shares during the last quarter. HMI Capital LLC boosted its stake in Blackstone Group by 23.8% during the 4th quarter. HMI Capital LLC now owns 2,652,707 shares of the asset manager’s stock worth $84,940,000 after purchasing an additional 509,707 shares during the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in Blackstone Group by 135.5% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,942,237 shares of the asset manager’s stock worth $64,812,000 after purchasing an additional 1,117,412 shares during the last quarter. 45.24% of the stock is currently owned by institutional investors.

Blackstone Group (NYSE BX) opened at $33.28 on Tuesday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $22,034.77, a P/E ratio of 11.73, a PEG ratio of 1.12 and a beta of 1.31. Blackstone Group has a 1-year low of $28.45 and a 1-year high of $37.52.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Investors of record on Monday, February 12th will be issued a $0.85 dividend. This represents a $3.40 annualized dividend and a yield of 10.22%. The ex-dividend date of this dividend is Friday, February 9th. This is a positive change from Blackstone Group’s previous quarterly dividend of $0.44. Blackstone Group’s payout ratio is presently 155.96%.

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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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