Equities analysts expect Blackstone Group LP (NYSE:BX) to announce sales of $1.63 billion for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Blackstone Group’s earnings, with the lowest sales estimate coming in at $1.58 billion and the highest estimate coming in at $1.65 billion. Blackstone Group reported sales of $504.98 million in the same quarter last year, which indicates a positive year-over-year growth rate of 222.8%. The business is expected to report its next earnings report before the market opens on Thursday, January 30th.
According to Zacks, analysts expect that Blackstone Group will report full-year sales of $5.43 billion for the current fiscal year, with estimates ranging from $5.37 billion to $5.49 billion. For the next fiscal year, analysts expect that the company will post sales of $7.23 billion, with estimates ranging from $6.68 billion to $7.58 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Blackstone Group.
Blackstone Group (NYSE:BX) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The firm had revenue of $1.74 billion for the quarter, compared to analyst estimates of $1.31 billion. Blackstone Group had a net margin of 27.05% and a return on equity of 7.61%. Blackstone Group’s quarterly revenue was down 9.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.63 earnings per share.
A number of equities analysts recently weighed in on the stock. Deutsche Bank boosted their price target on shares of Blackstone Group from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Bank of America lowered shares of Blackstone Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $54.00 to $52.00 in a research report on Monday, October 14th. S&P Equity Research downgraded shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 24th. Barclays reaffirmed a “buy” rating and set a $62.00 target price on shares of Blackstone Group in a research note on Wednesday, December 11th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $60.00 target price (up from $57.00) on shares of Blackstone Group in a research note on Friday, October 25th. Nine analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $55.13.
In other Blackstone Group news, major shareholder Blackstone Group Inc sold 8,875,211 shares of Blackstone Group stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $2.50, for a total transaction of $22,188,027.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Vice Chairman Hamilton E. James sold 108,103 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $52.56, for a total transaction of $5,681,893.68. The disclosure for this sale can be found here. Insiders have sold 16,608,103 shares of company stock worth $311,151,291 over the last ninety days. 1.00% of the stock is owned by insiders.
Several institutional investors have recently added to or reduced their stakes in the company. SFE Investment Counsel raised its stake in shares of Blackstone Group by 70.1% in the 4th quarter. SFE Investment Counsel now owns 36,665 shares of the asset manager’s stock valued at $2,051,000 after acquiring an additional 15,105 shares during the period. Alpha Cubed Investments LLC purchased a new stake in shares of Blackstone Group in the 4th quarter valued at approximately $220,000. Steward Partners Investment Advisory LLC raised its stake in shares of Blackstone Group by 2.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 73,869 shares of the asset manager’s stock valued at $4,132,000 after acquiring an additional 2,000 shares during the period. Arden Trust Co raised its stake in shares of Blackstone Group by 10.9% in the 4th quarter. Arden Trust Co now owns 17,106 shares of the asset manager’s stock valued at $956,000 after acquiring an additional 1,675 shares during the period. Finally, Nisa Investment Advisors LLC purchased a new stake in shares of Blackstone Group in the 4th quarter valued at approximately $709,000. 53.37% of the stock is currently owned by institutional investors and hedge funds.
BX traded up $0.61 on Monday, reaching $60.76. 4,276,545 shares of the company’s stock were exchanged, compared to its average volume of 2,679,199. The stock has a market cap of $39.66 billion, a PE ratio of 38.31, a P/E/G ratio of 1.19 and a beta of 1.44. Blackstone Group has a twelve month low of $32.17 and a twelve month high of $61.39. The stock’s fifty day moving average price is $55.59 and its 200-day moving average price is $50.93. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.05 and a quick ratio of 1.05.
About Blackstone Group
The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia.
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