Blackstone Group (NYSE:BX) is scheduled to release its Q3 2019 earnings data before the market opens on Wednesday, October 23rd. Analysts expect Blackstone Group to post earnings of $0.58 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.
Blackstone Group (NYSE:BX) last announced its quarterly earnings results on Thursday, July 18th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.07. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.15 billion. Blackstone Group had a net margin of 20.51% and a return on equity of 11.30%. Blackstone Group’s revenue for the quarter was down 43.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 EPS. On average, analysts expect Blackstone Group to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Shares of NYSE BX opened at $48.39 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.89 and a current ratio of 0.89. The company has a market cap of $31.62 billion, a P/E ratio of 21.41, a P/E/G ratio of 1.06 and a beta of 1.45. The firm’s fifty day moving average is $49.73 and its two-hundred day moving average is $44.57. Blackstone Group has a 52-week low of $26.88 and a 52-week high of $55.17.
In other Blackstone Group news, insider Christopher Striano sold 7,000 shares of Blackstone Group stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $48.23, for a total value of $337,610.00. Following the completion of the transaction, the insider now directly owns 36,186 shares of the company’s stock, valued at approximately $1,745,250.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Holdings L.P. Blackstone III sold 9,129,966 shares of Blackstone Group stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $32.75, for a total transaction of $299,006,386.50. The disclosure for this sale can be found here. Over the last three months, insiders acquired 694,319 shares of company stock valued at $5,581,544 and sold 9,161,966 shares valued at $300,689,747. Company insiders own 1.00% of the company’s stock.
A number of brokerages have issued reports on BX. Oppenheimer downgraded shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a report on Tuesday, September 24th. They noted that the move was a valuation call. Bank of America downgraded shares of Blackstone Group from a “buy” rating to a “neutral” rating and reduced their price target for the company from $54.00 to $52.00 in a report on Monday, October 14th. ValuEngine cut shares of Blackstone Group from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Morgan Stanley lifted their price objective on shares of Blackstone Group from $54.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, JMP Securities cut shares of Blackstone Group from an “outperform” rating to a “market perform” rating in a research note on Monday, July 8th. Nine analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $51.75.
About Blackstone Group
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.
Featured Article: How to Trade Using Analysts Ratings
Receive News & Ratings for Blackstone Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone Group and related companies with MarketBeat.com's FREE daily email newsletter.