The Blackstone Group L.P. (BX) Set to Announce Earnings on Thursday
The Blackstone Group L.P. (NYSE:BX) will be releasing its earnings data before the market opens on Thursday, July 20th. Analysts expect The Blackstone Group L.P. to post earnings of $0.62 per share for the quarter.
The Blackstone Group L.P. (NYSE:BX) last released its earnings results on Thursday, April 20th. The asset manager reported $0.82 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.69 by $0.13. The firm had revenue of $1.94 billion for the quarter, compared to analyst estimates of $1.60 billion. The Blackstone Group L.P. had a return on equity of 17.90% and a net margin of 21.87%. The company’s revenue was up 108.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. On average, analysts expect The Blackstone Group L.P. to post $2.89 EPS for the current fiscal year and $3.16 EPS for the next fiscal year.
Shares of The Blackstone Group L.P. (BX) opened at 34.55 on Tuesday. The firm has a market cap of $22.34 billion, a price-to-earnings ratio of 17.06 and a beta of 1.32. The firm has a 50-day moving average price of $32.32 and a 200-day moving average price of $30.47. The Blackstone Group L.P. has a 12-month low of $23.33 and a 12-month high of $34.81.
Several equities analysts have recently commented on the company. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $37.00 target price on shares of The Blackstone Group L.P. in a research report on Friday. Vetr downgraded The Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $37.57 target price on the stock. in a research report on Wednesday, July 12th. Zacks Investment Research downgraded The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research report on Tuesday, July 4th. Oppenheimer Holdings, Inc. upped their target price on The Blackstone Group L.P. from $34.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $37.00 target price (up previously from $36.00) on shares of The Blackstone Group L.P. in a research report on Monday, July 10th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. The Blackstone Group L.P. currently has an average rating of “Buy” and an average target price of $37.56.
In related news, insider Joan Solotar sold 30,500 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $33.31, for a total transaction of $1,015,955.00. Following the sale, the insider now owns 150,281 shares of the company’s stock, valued at $5,005,860.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Real Estate Associa Blackstone sold 15,000,000 shares of the stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $26.05, for a total value of $390,750,000.00. The disclosure for this sale can be found here. Insiders have sold 15,050,500 shares of company stock worth $392,416,555 in the last three months. 1.00% of the stock is currently owned by company insiders.
About The Blackstone Group L.P.
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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