Q3 2018 EPS Estimates for Blackstone Group LP (BX) Boosted by William Blair

Blackstone Group LP (NYSE:BX) – Investment analysts at William Blair increased their Q3 2018 earnings estimates for shares of Blackstone Group in a research note issued to investors on Tuesday, October 9th. William Blair analyst C. Shutler now anticipates that the asset manager will post earnings per share of $0.75 for the quarter, up from their previous forecast of $0.72. William Blair also issued estimates for Blackstone Group’s Q4 2018 earnings at $0.76 EPS, FY2018 earnings at $3.06 EPS, Q1 2019 earnings at $0.74 EPS, Q2 2019 earnings at $0.82 EPS, Q3 2019 earnings at $0.87 EPS, Q4 2019 earnings at $0.90 EPS and FY2019 earnings at $3.33 EPS.

A number of other research analysts also recently commented on BX. Zacks Investment Research raised shares of Blackstone Group from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a research report on Thursday, September 27th. Credit Suisse Group cut their target price on shares of Blackstone Group from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Friday, July 20th. ValuEngine downgraded shares of Blackstone Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Oppenheimer set a $42.00 target price on shares of Blackstone Group and gave the company a “buy” rating in a research report on Thursday, July 19th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $40.00 target price on shares of Blackstone Group in a research report on Friday, July 20th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $43.54.

NYSE BX opened at $34.85 on Thursday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.72. The stock has a market cap of $25.41 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 1.17 and a beta of 1.32. Blackstone Group has a one year low of $29.57 and a one year high of $40.60.

Blackstone Group (NYSE:BX) last posted its earnings results on Thursday, July 19th. The asset manager reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.17. The business had revenue of $2.63 billion for the quarter, compared to the consensus estimate of $1.74 billion. Blackstone Group had a net margin of 22.12% and a return on equity of 22.64%. The company’s revenue for the quarter was up 71.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS.

In other news, insider John G. Finley sold 10,000 shares of Blackstone Group stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $35.76, for a total value of $357,600.00. Following the transaction, the insider now owns 113,003 shares of the company’s stock, valued at approximately $4,040,987.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider John G. Finley sold 5,000 shares of Blackstone Group stock in a transaction that occurred on Wednesday, August 8th. The stock was sold at an average price of $35.98, for a total transaction of $179,900.00. Following the completion of the transaction, the insider now directly owns 113,003 shares in the company, valued at approximately $4,065,847.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 770,677 shares of company stock worth $28,061,444. Insiders own 1.00% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Bank of Montreal Can boosted its stake in Blackstone Group by 60.7% in the 3rd quarter. Bank of Montreal Can now owns 8,904,588 shares of the asset manager’s stock worth $339,088,000 after purchasing an additional 3,362,373 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Blackstone Group by 2.9% in the 2nd quarter. Janus Henderson Group PLC now owns 8,293,368 shares of the asset manager’s stock worth $266,801,000 after purchasing an additional 232,747 shares in the last quarter. Swedbank boosted its stake in Blackstone Group by 12.2% in the 3rd quarter. Swedbank now owns 5,501,485 shares of the asset manager’s stock worth $209,497,000 after purchasing an additional 600,000 shares in the last quarter. Amundi Pioneer Asset Management Inc. boosted its stake in Blackstone Group by 0.7% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 3,559,655 shares of the asset manager’s stock worth $113,731,000 after purchasing an additional 23,863 shares in the last quarter. Finally, Beck Mack & Oliver LLC boosted its stake in Blackstone Group by 1.1% in the 2nd quarter. Beck Mack & Oliver LLC now owns 3,432,778 shares of the asset manager’s stock worth $110,432,000 after purchasing an additional 36,924 shares in the last quarter. 48.75% of the stock is currently owned by hedge funds and other institutional investors.

Blackstone Group Company Profile

The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory 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 and Estimates for Blackstone Group (NYSE:BX)

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