Equities analysts expect Blackstone Group LP (NYSE:BX) to announce $1.26 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Blackstone Group's earnings, with the highest sales estimate coming in at $1.32 billion and the lowest estimate coming in at $1.16 billion. Blackstone Group posted sales of $1.37 billion during the same quarter last year, which would indicate a negative year-over-year growth rate of 8%. The firm is expected to issue its next quarterly earnings report on Wednesday, October 28th.
On average, analysts expect that Blackstone Group will report full-year sales of $5.13 billion for the current fiscal year, with estimates ranging from $4.72 billion to $5.38 billion. For the next year, analysts anticipate that the firm will report sales of $7.07 billion, with estimates ranging from $6.27 billion to $7.58 billion. Zacks Investment Research's sales calculations are an average based on a survey of research firms that cover Blackstone Group.
Blackstone Group (NYSE:BX) last released its quarterly earnings results on Thursday, July 23rd. The asset manager reported $0.43 EPS for the quarter, meeting analysts' consensus estimates of $0.43. The business had revenue of $2.52 billion during the quarter, compared to analyst estimates of $1.16 billion. Blackstone Group had a return on equity of 14.38% and a net margin of 27.93%. Blackstone Group's quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.57 EPS.
Several research firms have recently weighed in on BX. Barclays boosted their price objective on shares of Blackstone Group from $58.00 to $64.00 and gave the company an "overweight" rating in a report on Friday, July 24th. Bank of America lowered their target price on shares of Blackstone Group from $62.00 to $58.00 and set a "neutral" rating on the stock in a research note on Friday, July 10th. Morgan Stanley upped their target price on shares of Blackstone Group from $64.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, July 24th. Citigroup downgraded Blackstone Group from a "buy" rating to a "neutral" rating in a research report on Monday, June 8th. Finally, UBS Group reduced their price objective on Blackstone Group from $65.00 to $63.00 and set a "buy" rating on the stock in a research note on Monday, July 27th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Blackstone Group presently has an average rating of "Buy" and a consensus target price of $60.95.
BX stock opened at $52.70 on Friday. Blackstone Group has a 52-week low of $33.00 and a 52-week high of $64.97. The firm has a 50 day moving average price of $52.88 and a 200-day moving average price of $52.18. The firm has a market capitalization of $35.36 billion, a price-to-earnings ratio of 48.35 and a beta of 1.30. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.10 and a current ratio of 1.10.
In other Blackstone Group news, Director Joseph Baratta sold 434,815 shares of Blackstone Group stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $53.00, for a total transaction of $23,045,195.00. Following the completion of the sale, the director now owns 1,613,448 shares of the company's stock, valued at approximately $85,512,744. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider John G. Finley sold 40,000 shares of the business's stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $54.07, for a total value of $2,162,800.00. Following the sale, the insider now owns 211,880 shares in the company, valued at approximately $11,456,351.60. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of BX. Mackenzie Financial Corp boosted its holdings in Blackstone Group by 9.9% in the first quarter. Mackenzie Financial Corp now owns 2,048,602 shares of the asset manager's stock valued at $93,355,000 after purchasing an additional 184,391 shares in the last quarter. Schroder Investment Management Group boosted its holdings in shares of Blackstone Group by 246.2% in the first quarter. Schroder Investment Management Group now owns 22,992 shares of the asset manager's stock valued at $1,071,000 after acquiring an additional 16,351 shares during the period. Meeder Asset Management Inc. purchased a new position in shares of Blackstone Group during the first quarter worth approximately $56,000. State Street Corp grew its position in shares of Blackstone Group by 6.6% during the first quarter. State Street Corp now owns 7,187,527 shares of the asset manager's stock worth $327,536,000 after acquiring an additional 447,454 shares during the last quarter. Finally, Tower Research Capital LLC TRC acquired a new position in shares of Blackstone Group in the 1st quarter valued at $152,000. 59.47% of the stock is currently owned by institutional investors and hedge funds.
Blackstone Group Company Profile
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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