Piper Sandler Analysts Raise Earnings Estimates for The Blackstone Group Inc. (NYSE:BX)

The Blackstone Group Inc. (NYSE:BX) – Investment analysts at Piper Sandler boosted their FY2021 EPS estimates for The Blackstone Group in a report issued on Monday, October 11th. Piper Sandler analyst S. Mody now expects that the asset manager will earn $3.67 per share for the year, up from their prior forecast of $3.46. Piper Sandler also issued estimates for The Blackstone Group’s Q4 2021 earnings at $1.00 EPS, Q2 2022 earnings at $0.86 EPS and Q4 2022 earnings at $1.13 EPS.

A number of other analysts also recently issued reports on BX. Zacks Investment Research downgraded The Blackstone Group from a “buy” rating to a “hold” rating and set a $139.00 price objective on the stock. in a research note on Tuesday, September 14th. Citigroup lifted their target price on The Blackstone Group from $91.00 to $100.00 and gave the stock a “neutral” rating in a report on Monday, July 12th. lifted their target price on The Blackstone Group from $91.00 to $100.00 and gave the stock a “neutral” rating in a report on Monday, July 12th. Morgan Stanley lifted their target price on The Blackstone Group from $98.00 to $121.00 and gave the stock an “overweight” rating in a report on Tuesday, July 20th. Finally, Argus lifted their target price on The Blackstone Group from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, July 23rd. Five research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, The Blackstone Group presently has an average rating of “Buy” and a consensus price target of $98.55.

NYSE:BX opened at $118.69 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.77 and a quick ratio of 0.77. The Blackstone Group has a 1 year low of $49.40 and a 1 year high of $136.88. The stock’s 50 day simple moving average is $120.88 and its two-hundred day simple moving average is $102.52. The company has a market cap of $81.42 billion, a price-to-earnings ratio of 17.89 and a beta of 1.35.

The Blackstone Group (NYSE:BX) last released its quarterly earnings data on Wednesday, July 21st. The asset manager reported $0.82 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.77 by $0.05. The Blackstone Group had a return on equity of 15.88% and a net margin of 26.67%. The business had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the company posted $0.43 EPS. The company’s revenue was up 90.3% compared to the same quarter last year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 9th. Investors of record on Monday, August 2nd were issued a dividend of $0.8475 per share. This represents a $3.39 dividend on an annualized basis and a yield of 2.86%. The ex-dividend date of this dividend was Friday, July 30th. The Blackstone Group’s payout ratio is currently 105.66%.

In other news, major shareholder Lifesciences Iii L.P. Clarus bought 150,000 shares of the firm’s stock in a transaction on Tuesday, July 20th. The stock was acquired at an average cost of $16.00 per share, with a total value of $2,400,000.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Holdings L.P. Blackstone III bought 35,044 shares of the firm’s stock in a transaction on Thursday, September 30th. The shares were purchased at an average cost of $40.93 per share, with a total value of $1,434,350.92. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 215,657 shares of company stock valued at $5,046,801 and have sold 507,808 shares valued at $40,144,228. 1.00% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BX. Howe & Rusling Inc. bought a new position in shares of The Blackstone Group in the 1st quarter worth $25,000. Meeder Asset Management Inc. increased its position in The Blackstone Group by 101.4% during the 2nd quarter. Meeder Asset Management Inc. now owns 288 shares of the asset manager’s stock valued at $28,000 after buying an additional 145 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in The Blackstone Group during the 2nd quarter valued at about $32,000. Versant Capital Management Inc increased its position in The Blackstone Group by 35.2% during the 2nd quarter. Versant Capital Management Inc now owns 426 shares of the asset manager’s stock valued at $41,000 after buying an additional 111 shares in the last quarter. Finally, Clean Yield Group acquired a new position in The Blackstone Group during the 2nd quarter valued at about $46,000. 63.16% of the stock is owned by hedge funds and other institutional investors.

About The Blackstone Group

Blackstone, Inc engages in the provision of investment and fund management services. It operates through the following segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit. The Private Equity segment consists of flagship corporate private equity funds, Blackstone Capital Partners funds, sector-focused corporate private equity funds, including energy-focused funds, Blackstone Energy Partners funds, and core private equity fund, Blackstone Core Equity Partners.

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Earnings History and Estimates for The Blackstone Group (NYSE:BX)

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