The Blackstone Group Inc. (NYSE:BX) to Post Q1 2021 Earnings of $0.73 Per Share, Jefferies Financial Group Forecasts


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The Blackstone Group Inc. (NYSE:BX) – Equities research analysts at Jefferies Financial Group upped their Q1 2021 earnings estimates for The Blackstone Group in a report issued on Sunday, April 11th. Jefferies Financial Group analyst G. O’hara now expects that the asset manager will post earnings per share of $0.73 for the quarter, up from their previous estimate of $0.67. Jefferies Financial Group also issued estimates for The Blackstone Group’s Q2 2021 earnings at $0.79 EPS, Q3 2021 earnings at $0.88 EPS, Q4 2021 earnings at $1.07 EPS, FY2021 earnings at $3.48 EPS and FY2022 earnings at $3.53 EPS.

The Blackstone Group (NYSE:BX) last issued its quarterly earnings results on Tuesday, January 26th. The asset manager reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.20. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the prior year, the company posted $0.71 EPS. The company’s revenue for the quarter was up 73.5% on a year-over-year basis.

BX has been the subject of several other reports. Barclays raised their price objective on shares of The Blackstone Group from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday. Deutsche Bank Aktiengesellschaft lifted their price target on The Blackstone Group from $61.00 to $66.00 and gave the stock a “hold” rating in a research note on Friday, April 9th. Credit Suisse Group upped their price objective on The Blackstone Group from $72.00 to $78.00 and gave the company an “outperform” rating in a research note on Thursday, January 28th. Morgan Stanley lifted their target price on The Blackstone Group from $84.00 to $90.00 and gave the stock an “overweight” rating in a research report on Monday, March 22nd. Finally, BMO Capital Markets upped their price target on The Blackstone Group from $63.00 to $72.00 and gave the company a “market perform” rating in a research report on Thursday, January 28th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $70.13.

The Blackstone Group stock opened at $78.39 on Tuesday. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.42. The stock has a 50 day moving average of $72.62 and a 200-day moving average of $63.94. The stock has a market cap of $53.61 billion, a P/E ratio of 73.26 and a beta of 1.33. The Blackstone Group has a 52 week low of $45.05 and a 52 week high of $78.71.

A number of institutional investors have recently made changes to their positions in the business. Catalyst Private Wealth LLC acquired a new position in The Blackstone Group during the 3rd quarter valued at about $26,000. Charter Oak Capital Management LLC bought a new position in shares of The Blackstone Group in the fourth quarter valued at approximately $26,000. Valley Brook Capital Group acquired a new position in shares of The Blackstone Group during the fourth quarter valued at approximately $34,000. Oder Investment Management LLC bought a new stake in The Blackstone Group during the fourth quarter worth approximately $37,000. Finally, ShoreHaven Wealth Partners LLC acquired a new stake in The Blackstone Group in the fourth quarter worth approximately $39,000. 59.77% of the stock is currently owned by hedge funds and other institutional investors.

In other The Blackstone Group news, major shareholder Blackstone Group Inc sold 2,370,632 shares of the business’s stock in a transaction dated Wednesday, March 24th. The shares were sold at an average price of $37.00, for a total transaction of $87,713,384.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.00% of the stock is owned by company insiders.

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 16th. Stockholders of record on Monday, February 8th were given a dividend of $0.7175 per share. The ex-dividend date of this dividend was Friday, February 5th. This represents a $2.87 annualized dividend and a dividend yield of 3.66%. This is a positive change from The Blackstone Group’s previous quarterly dividend of $0.54. The Blackstone Group’s dividend payout ratio is currently 166.23%.

The Blackstone Group Company Profile

The Blackstone Group 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 The Blackstone Group (NYSE:BX)

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