Blackstone Group (NYSE:BX) Releases Earnings Results, Beats Estimates By $0.07 EPS

Blackstone Group (NYSE:BX) issued its earnings results on Thursday. The asset manager reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07, Morningstar.com reports. Blackstone Group had a net margin of 20.51% and a return on equity of 11.28%. The firm had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the firm posted $0.90 earnings per share. The company’s revenue was down 43.5% compared to the same quarter last year.

Shares of BX opened at $45.63 on Friday. Blackstone Group has a fifty-two week low of $26.88 and a fifty-two week high of $47.93. The firm has a market capitalization of $30.08 billion, a P/E ratio of 20.19, a price-to-earnings-growth ratio of 1.05 and a beta of 1.47. The business’s 50-day simple moving average is $44.17. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.77.

Several equities analysts have issued reports on BX shares. Morgan Stanley upped their price objective on shares of Blackstone Group from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday. ValuEngine upgraded shares of Alleghany from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. JMP Securities started coverage on shares of Fiverr International in a research note on Monday, July 8th. They issued an “outperform” rating and a $33.00 price objective for the company. Deutsche Bank upped their price objective on shares of Union Pacific from $197.00 to $206.00 and gave the company a “buy” rating in a research note on Friday. Finally, Zacks Investment Research upgraded shares of Green Brick Partners from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Blackstone Group currently has a consensus rating of “Buy” and an average target price of $45.13.

In other Blackstone Group news, major shareholder Holdings L.P. Blackstone III bought 30,894 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was acquired at an average price of $24.49 per share, for a total transaction of $756,594.06. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bennett J. Goodman sold 115,000 shares of the stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $39.58, for a total transaction of $4,551,700.00. Following the sale, the director now owns 250,000 shares of the company’s stock, valued at approximately $9,895,000. The disclosure for this sale can be found here. Insiders have bought 684,152 shares of company stock valued at $16,550,984 in the last quarter. Insiders own 1.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Resources Investment Advisors Inc. raised its holdings in Blackstone Group by 606.0% during the first quarter. Resources Investment Advisors Inc. now owns 706 shares of the asset manager’s stock worth $25,000 after purchasing an additional 606 shares in the last quarter. Sound Income Strategies LLC raised its holdings in Blackstone Group by 69.4% during the first quarter. Sound Income Strategies LLC now owns 732 shares of the asset manager’s stock worth $26,000 after purchasing an additional 300 shares in the last quarter. Investors Research Corp purchased a new position in Blackstone Group during the first quarter worth about $28,000. Meridian Wealth Management LLC purchased a new position in Blackstone Group during the first quarter worth about $32,000. Finally, Centaurus Financial Inc. raised its holdings in Blackstone Group by 194.0% during the first quarter. Centaurus Financial Inc. now owns 1,035 shares of the asset manager’s stock worth $30,000 after purchasing an additional 683 shares in the last quarter. Institutional investors and hedge funds own 47.26% of the company’s stock.

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 for Blackstone Group (NYSE:BX)

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