Blackstone Group LP (NYSE:BX) Expected to Announce Quarterly Sales of $1.14 Billion

Analysts expect Blackstone Group LP (NYSE:BX) to announce $1.14 billion in sales for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Blackstone Group’s earnings, with the highest sales estimate coming in at $1.27 billion and the lowest estimate coming in at $1.09 billion. Blackstone Group posted sales of $1.32 billion during the same quarter last year, which suggests a negative year over year growth rate of 13.6%. The business is expected to issue its next quarterly earnings report on Thursday, July 16th.

On average, analysts expect that Blackstone Group will report full-year sales of $5.19 billion for the current financial year, with estimates ranging from $4.81 billion to $5.62 billion. For the next year, analysts anticipate that the business will report sales of $7.01 billion, with estimates ranging from $6.16 billion to $8.01 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Blackstone Group.

Blackstone Group (NYSE:BX) last posted its earnings results on Thursday, April 23rd. The asset manager reported $0.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.04). Blackstone Group had a return on equity of 14.62% and a net margin of 27.93%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the company posted $0.71 earnings per share.

BX has been the subject of several recent analyst reports. Bank of America cut their price objective on Blackstone Group from $52.00 to $40.00 and set a “neutral” rating for the company in a report on Monday, March 23rd. Morgan Stanley raised their price target on Blackstone Group from $62.00 to $64.00 and gave the company an “overweight” rating in a report on Monday, April 27th. William Blair reaffirmed a “buy” rating on shares of Blackstone Group in a report on Friday, April 24th. Deutsche Bank raised their price target on Blackstone Group from $43.00 to $47.00 and gave the company a “hold” rating in a report on Friday, May 15th. Finally, Wells Fargo & Co raised their price target on Blackstone Group from $58.00 to $63.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $58.95.

In other Blackstone Group news, insider John G. Finley sold 50,000 shares of Blackstone Group stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $53.11, for a total value of $2,655,500.00. Following the completion of the sale, the insider now directly owns 218,663 shares in the company, valued at $11,613,191.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bainco International Investors bought a new stake in shares of Blackstone Group during the first quarter valued at approximately $27,000. MBM Wealth Consultants LLC bought a new stake in shares of Blackstone Group during the first quarter valued at approximately $30,000. OmniStar Financial Group Inc. bought a new stake in shares of Blackstone Group during the first quarter valued at approximately $30,000. First Bank & Trust bought a new stake in Blackstone Group during the first quarter worth $30,000. Finally, Capital Advisory Group Advisory Services LLC bought a new stake in Blackstone Group during the first quarter worth $31,000. Hedge funds and other institutional investors own 56.73% of the company’s stock.

Shares of NYSE BX traded down $2.88 during trading hours on Monday, hitting $54.35. The company had a trading volume of 3,507,390 shares, compared to its average volume of 3,438,160. The stock has a market capitalization of $36.41 billion, a P/E ratio of 74.45, a price-to-earnings-growth ratio of 14.26 and a beta of 1.45. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.97. Blackstone Group has a 1-year low of $33.00 and a 1-year high of $64.97. The firm’s 50 day moving average is $55.62 and its 200-day moving average is $54.22.

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

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