Analysts predict that Blackstone Inc. (NYSE:BX – Get Rating) will announce earnings of $1.17 per share for the current quarter, according to Zacks. Four analysts have made estimates for Blackstone’s earnings, with estimates ranging from $1.08 to $1.47. Blackstone reported earnings of $0.96 per share during the same quarter last year, which would indicate a positive year over year growth rate of 21.9%. The business is scheduled to report its next earnings results before the market opens on Monday, January 1st.
On average, analysts expect that Blackstone will report full-year earnings of $5.47 per share for the current fiscal year, with EPS estimates ranging from $4.75 to $5.94. For the next financial year, analysts expect that the business will post earnings of $6.20 per share, with EPS estimates ranging from $5.59 to $7.90. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Blackstone.
Blackstone (NYSE:BX – Get Rating) last issued its quarterly earnings results on Thursday, January 27th. The asset manager reported $1.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.37. Blackstone had a net margin of 25.94% and a return on equity of 17.72%. The business had revenue of $4.46 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the business posted $1.13 EPS. Blackstone’s revenue for the quarter was up 59.0% compared to the same quarter last year.
In other Blackstone news, insider John G. Finley sold 30,000 shares of Blackstone stock in a transaction dated Wednesday, February 2nd. The shares were sold at an average price of $137.38, for a total transaction of $4,121,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Holdings L.P. Blackstone III sold 475,000 shares of Blackstone stock in a transaction dated Monday, March 7th. The shares were sold at an average price of $60.79, for a total transaction of $28,875,250.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 758,862 shares of company stock valued at $48,643,887. 1.00% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in BX. Marshall Wace LLP acquired a new stake in shares of Blackstone during the first quarter valued at about $50,000. Morgan Stanley boosted its stake in shares of Blackstone by 9.0% in the second quarter. Morgan Stanley now owns 20,477,273 shares of the asset manager’s stock valued at $1,989,163,000 after purchasing an additional 1,691,281 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Blackstone by 45.6% in the second quarter. Thrivent Financial for Lutherans now owns 7,016 shares of the asset manager’s stock valued at $682,000 after purchasing an additional 2,197 shares during the period. CENTRAL TRUST Co boosted its stake in shares of Blackstone by 45.6% in the third quarter. CENTRAL TRUST Co now owns 6,639 shares of the asset manager’s stock valued at $772,000 after purchasing an additional 2,080 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Blackstone in the third quarter valued at approximately $557,000. Institutional investors and hedge funds own 61.09% of the company’s stock.
Blackstone stock traded down $0.67 during mid-day trading on Friday, reaching $114.97. 2,695,323 shares of the company traded hands, compared to its average volume of 4,275,809. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.70 and a quick ratio of 0.70. Blackstone has a fifty-two week low of $75.76 and a fifty-two week high of $149.78. The company has a market capitalization of $78.97 billion, a price-to-earnings ratio of 14.12, a price-to-earnings-growth ratio of 1.61 and a beta of 1.31. The firm’s fifty day moving average is $123.74 and its two-hundred day moving average is $127.28.
The firm also recently announced a quarterly dividend, which was paid on Monday, February 14th. Stockholders of record on Monday, February 7th were given a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 5.04%. This is a boost from Blackstone’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend was Friday, February 4th. Blackstone’s dividend payout ratio is 71.25%.
Blackstone Company Profile (Get Rating)
Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.
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