Analysts expect The Blackstone Group Inc. (NYSE:BX) to report $0.83 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for The Blackstone Group’s earnings, with the highest EPS estimate coming in at $0.96 and the lowest estimate coming in at $0.69. The Blackstone Group posted earnings of $0.63 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 31.7%. The company is scheduled to issue its next quarterly earnings results on Wednesday, October 27th.
On average, analysts expect that The Blackstone Group will report full-year earnings of $3.70 per share for the current financial year, with EPS estimates ranging from $3.46 to $3.94. For the next fiscal year, analysts anticipate that the firm will report earnings of $4.16 per share, with EPS estimates ranging from $3.38 to $4.94. Zacks’ earnings per share calculations are an average based on a survey of research firms that cover The Blackstone Group.
The Blackstone Group (NYSE:BX) last released its earnings results on Wednesday, July 21st. The asset manager reported $0.82 EPS for the quarter, beating the consensus estimate of $0.77 by $0.05. The Blackstone Group had a net margin of 26.67% and a return on equity of 15.88%. The firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the firm earned $0.43 EPS. The business’s quarterly revenue was up 90.3% compared to the same quarter last year.
NYSE:BX traded up $3.19 during mid-day trading on Thursday, hitting $127.15. 219,194 shares of the company’s stock were exchanged, compared to its average volume of 3,454,890. The firm has a market capitalization of $87.22 billion, a P/E ratio of 19.13 and a beta of 1.35. The Blackstone Group has a fifty-two week low of $49.26 and a fifty-two week high of $136.88. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.31. The company has a 50 day simple moving average of $117.65 and a 200-day simple moving average of $97.31.
The company also recently declared a quarterly dividend, which was paid on Monday, August 9th. Stockholders of record on Monday, August 2nd were paid a dividend of $0.8475 per share. This represents a $3.39 annualized dividend and a dividend yield of 2.67%. The ex-dividend date was Friday, July 30th. The Blackstone Group’s dividend payout ratio (DPR) is 105.66%.
In related news, major shareholder Holdings L.P. Blackstone II sold 335,000 shares of the stock in a transaction on Tuesday, August 24th. The stock was sold at an average price of $60.00, for a total value of $20,100,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO David Payne sold 3,693 shares of the firm’s stock in a transaction dated Friday, September 10th. The shares were sold at an average price of $129.00, for a total value of $476,397.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 508,477 shares of company stock worth $40,210,412. 1.00% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of BX. KC Investment Advisors LLC increased its stake in shares of The Blackstone Group by 1.4% in the second quarter. KC Investment Advisors LLC now owns 6,890 shares of the asset manager’s stock valued at $669,000 after purchasing an additional 94 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. grew its position in The Blackstone Group by 0.9% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 11,022 shares of the asset manager’s stock worth $1,071,000 after buying an additional 99 shares during the last quarter. Summit X LLC boosted its stake in The Blackstone Group by 1.1% in the 2nd quarter. Summit X LLC now owns 9,225 shares of the asset manager’s stock worth $898,000 after purchasing an additional 100 shares during the period. Sfmg LLC boosted its stake in The Blackstone Group by 0.6% in the 2nd quarter. Sfmg LLC now owns 16,383 shares of the asset manager’s stock worth $1,591,000 after purchasing an additional 100 shares during the period. Finally, First Bank & Trust boosted its stake in The Blackstone Group by 9.0% in the 2nd quarter. First Bank & Trust now owns 1,217 shares of the asset manager’s stock worth $118,000 after purchasing an additional 100 shares during the period. 63.16% of the stock is currently owned by hedge funds and other institutional investors.
The Blackstone Group Company Profile
Blackstone, Inc engages in the provision of investment and fund management services. It operates through the following segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit. The Private Equity segment consists of flagship corporate private equity funds, Blackstone Capital Partners funds, sector-focused corporate private equity funds, including energy-focused funds, Blackstone Energy Partners funds, and core private equity fund, Blackstone Core Equity Partners.
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