Analysts expect Blackstone Inc. (NYSE:BX – Get Rating) to report $3.22 billion in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Blackstone’s earnings, with estimates ranging from $2.78 billion to $3.80 billion. Blackstone reported sales of $2.05 billion during the same quarter last year, which indicates a positive year over year growth rate of 57.1%. The business is scheduled to issue its next quarterly earnings results before the market opens on Monday, January 1st.
According to Zacks, analysts expect that Blackstone will report full year sales of $13.23 billion for the current year, with estimates ranging from $12.04 billion to $14.33 billion. For the next year, analysts forecast that the company will post sales of $14.85 billion, with estimates ranging from $13.96 billion to $15.71 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Blackstone.
Blackstone (NYSE:BX – Get Rating) last released its quarterly earnings data on Thursday, January 27th. The asset manager reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.34 by $0.37. The company had revenue of $4.46 billion for the quarter, compared to analyst estimates of $3.12 billion. Blackstone had a net margin of 25.94% and a return on equity of 17.72%. Blackstone’s revenue for the quarter was up 59.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.13 EPS.
Shares of BX stock traded down $0.67 during midday trading on Tuesday, hitting $114.97. 2,695,323 shares of the company were exchanged, compared to its average volume of 4,275,809. The firm has a market capitalization of $78.97 billion, a P/E ratio of 14.12, a PEG ratio of 1.61 and a beta of 1.31. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.70 and a current ratio of 0.70. The firm’s 50 day moving average price is $123.74 and its two-hundred day moving average price is $127.28. Blackstone has a 52 week low of $75.76 and a 52 week high of $149.78.
The business also recently announced a quarterly dividend, which was paid on Monday, February 14th. Investors of record on Monday, February 7th were paid a dividend of $1.45 per share. The ex-dividend date was Friday, February 4th. This is a positive change from Blackstone’s previous quarterly dividend of $1.03. This represents a $5.80 annualized dividend and a yield of 5.04%. Blackstone’s dividend payout ratio is currently 71.25%.
In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 5,225 shares of the firm’s stock in a transaction on Friday, March 4th. The shares were sold at an average price of $60.02, for a total value of $313,604.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider John G. Finley sold 30,000 shares of the firm’s stock in a transaction on Wednesday, February 2nd. The shares were sold at an average price of $137.38, for a total transaction of $4,121,400.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 758,862 shares of company stock worth $48,643,887. 1.00% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. MML Investors Services LLC increased its holdings in Blackstone by 3.7% during the third quarter. MML Investors Services LLC now owns 44,764 shares of the asset manager’s stock worth $5,208,000 after buying an additional 1,601 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Blackstone by 0.7% during the third quarter. Bank of New York Mellon Corp now owns 2,864,659 shares of the asset manager’s stock worth $333,275,000 after buying an additional 21,083 shares during the last quarter. Homrich & Berg increased its holdings in Blackstone by 2.7% during the third quarter. Homrich & Berg now owns 7,342 shares of the asset manager’s stock worth $854,000 after buying an additional 194 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in Blackstone by 5.7% during the third quarter. Commonwealth Equity Services LLC now owns 573,378 shares of the asset manager’s stock worth $66,706,000 after buying an additional 30,758 shares during the last quarter. Finally, Illinois Municipal Retirement Fund boosted its position in Blackstone by 35.9% during the fourth quarter. Illinois Municipal Retirement Fund now owns 64,473 shares of the asset manager’s stock worth $8,342,000 after purchasing an additional 17,023 shares during the period. Institutional investors own 61.09% of the company’s stock.
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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