Blackstone Inc. (NYSE:BX) Expected to Post Earnings of $1.35 Per Share

Brokerages predict that Blackstone Inc. (NYSE:BXGet Rating) will report earnings per share of $1.35 for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Blackstone’s earnings. The highest EPS estimate is $1.56 and the lowest is $1.20. Blackstone reported earnings per share of $0.82 in the same quarter last year, which would suggest a positive year-over-year growth rate of 64.6%. The firm is expected to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Blackstone will report full-year earnings of $5.50 per share for the current financial year, with EPS estimates ranging from $4.94 to $5.94. For the next year, analysts forecast that the business will report earnings of $6.36 per share, with EPS estimates ranging from $5.79 to $7.90. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Blackstone.

Blackstone (NYSE:BXGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The asset manager reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.32. The business had revenue of $5.13 billion during the quarter, compared to analyst estimates of $2.54 billion. Blackstone had a net margin of 23.77% and a return on equity of 19.20%. The business’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 earnings per share.

A number of research firms have commented on BX. Bank of America lifted their price objective on shares of Blackstone from $172.00 to $180.00 and gave the stock a “buy” rating in a report on Friday. Jefferies Financial Group reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Blackstone in a report on Wednesday, April 13th. StockNews.com began coverage on shares of Blackstone in a report on Thursday, March 31st. They issued a “hold” rating for the company. BNP Paribas downgraded shares of Blackstone from an “outperform” rating to a “neutral” rating and set a $135.00 price objective for the company. in a report on Thursday, April 7th. Finally, Citigroup decreased their price objective on shares of Blackstone from $132.50 to $117.00 and set a “neutral” rating for the company in a report on Tuesday, April 12th. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $139.73.

In related news, insider John G. Finley sold 30,000 shares of the company’s stock in a transaction dated Wednesday, February 2nd. The shares were sold at an average price of $137.38, for a total value of $4,121,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Holdings L.P. Blackstone III sold 52,900 shares of the company’s stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $61.23, for a total transaction of $3,239,067.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,111,452 shares of company stock valued at $69,334,658. Corporate insiders own 1.00% of the company’s stock.

A number of hedge funds have recently bought and sold shares of BX. Keybank National Association OH raised its position in Blackstone by 0.8% in the third quarter. Keybank National Association OH now owns 9,061 shares of the asset manager’s stock worth $1,054,000 after acquiring an additional 73 shares in the last quarter. Palumbo Wealth Management LLC raised its position in Blackstone by 1.0% in the fourth quarter. Palumbo Wealth Management LLC now owns 8,132 shares of the asset manager’s stock worth $1,052,000 after acquiring an additional 83 shares in the last quarter. Krilogy Financial LLC raised its position in Blackstone by 0.7% in the fourth quarter. Krilogy Financial LLC now owns 12,811 shares of the asset manager’s stock worth $1,658,000 after acquiring an additional 88 shares in the last quarter. First Bank & Trust raised its position in Blackstone by 7.0% in the fourth quarter. First Bank & Trust now owns 1,366 shares of the asset manager’s stock worth $177,000 after acquiring an additional 89 shares in the last quarter. Finally, We Are One Seven LLC raised its position in Blackstone by 1.3% in the third quarter. We Are One Seven LLC now owns 7,191 shares of the asset manager’s stock worth $995,000 after acquiring an additional 90 shares in the last quarter. 61.09% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:BX opened at $110.59 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.36. The company has a fifty day simple moving average of $120.31 and a 200 day simple moving average of $126.98. The firm has a market cap of $75.96 billion, a PE ratio of 15.07, a price-to-earnings-growth ratio of 1.59 and a beta of 1.31. Blackstone has a 12-month low of $83.15 and a 12-month high of $149.78.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 9th. Stockholders of record on Monday, May 2nd will be issued a dividend of $1.32 per share. This is an increase from Blackstone’s previous quarterly dividend of $0.93. The ex-dividend date of this dividend is Friday, April 29th. This represents a $5.28 annualized dividend and a dividend yield of 4.77%. Blackstone’s payout ratio is 79.02%.

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

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