Analysts Anticipate Blackstone Group LP (BX) Will Announce Quarterly Sales of $1.93 Billion

Equities research analysts expect Blackstone Group LP (NYSE:BX) to announce sales of $1.93 billion for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Blackstone Group’s earnings, with the highest sales estimate coming in at $1.94 billion and the lowest estimate coming in at $1.91 billion. Blackstone Group posted sales of $1.66 billion in the same quarter last year, which suggests a positive year over year growth rate of 16.3%. The company is expected to announce its next earnings report before the market opens on Thursday, April 18th.

According to Zacks, analysts expect that Blackstone Group will report full year sales of $7.48 billion for the current financial year, with estimates ranging from $7.34 billion to $7.63 billion. For the next year, analysts expect that the company will post sales of $8.29 billion, with estimates ranging from $7.81 billion to $8.72 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Blackstone Group.

Blackstone Group (NYSE:BX) last announced its earnings results on Thursday, January 31st. The asset manager reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.05). Blackstone Group had a return on equity of 16.48% and a net margin of 22.56%. The business had revenue of $504.98 million for the quarter, compared to analysts’ expectations of $381.19 million. During the same quarter last year, the firm earned $0.71 earnings per share. The firm’s quarterly revenue was down 74.2% compared to the same quarter last year.

Several analysts have weighed in on the company. Zacks Investment Research upgraded Blackstone Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Morgan Stanley dropped their price target on Blackstone Group from $42.00 to $36.00 and set an “overweight” rating on the stock in a research note on Friday, January 4th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $42.54.

BX stock traded up $0.36 on Friday, hitting $34.97. 1,366,800 shares of the company’s stock were exchanged, compared to its average volume of 3,294,520. Blackstone Group has a 12-month low of $26.88 and a 12-month high of $40.60. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.04 and a quick ratio of 1.04. The company has a market cap of $22.79 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 3.29 and a beta of 1.43.

In related news, major shareholder Holdings L.P. Blackstone III acquired 75,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was acquired at an average price of $24.16 per share, with a total value of $1,812,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In the last three months, insiders bought 494,192 shares of company stock valued at $11,793,325. Insiders own 1.00% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Bank of Montreal Can raised its holdings in Blackstone Group by 58.3% in the 4th quarter. Bank of Montreal Can now owns 14,094,176 shares of the asset manager’s stock worth $420,147,000 after purchasing an additional 5,189,588 shares during the period. Capital International Investors acquired a new position in Blackstone Group in the 3rd quarter worth about $82,710,000. Vantage Investment Partners LLC raised its holdings in Blackstone Group by 151.7% in the 4th quarter. Vantage Investment Partners LLC now owns 2,302,246 shares of the asset manager’s stock worth $68,630,000 after purchasing an additional 1,387,663 shares during the period. Credit Suisse AG raised its holdings in Blackstone Group by 28.4% in the 3rd quarter. Credit Suisse AG now owns 4,035,853 shares of the asset manager’s stock worth $153,685,000 after purchasing an additional 892,933 shares during the period. Finally, Fairview Capital Investment Management LLC raised its holdings in Blackstone Group by 29.1% in the 4th quarter. Fairview Capital Investment Management LLC now owns 3,751,400 shares of the asset manager’s stock worth $111,829,000 after purchasing an additional 844,750 shares during the period. 50.15% of the stock is owned by institutional investors and hedge funds.

Blackstone Group Company Profile

The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.

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Earnings History and Estimates for Blackstone Group (NYSE:BX)

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