The Blackstone Group L.P. (NYSE:BX) released its earnings report for the three months ending June 30 this morning before the market opened. The company showed earnings of $0.62 per share for the period on revenue of $1.43 billion. The Blackstone Group L.P. (NYSE:BX) stock closed at $21.96 per share on yesterday’s market.
In anticipation of this earnings report, analysts were looking for earnings per share of 52 cents on revenues totaling $1.22 billion. In the same three months of 2012 the company earned just 19 cents per share on revenue of $644 million. Before this morning’s release, The Blackstone Group L.P. (NYSE:BX) managed to beat analysts earnings estimates for the last four quarters running.
Investment strategies used by hedge funds have evolved over the years, although the biggest changes have come in the use of computers to develop portfolios. Rosetta Analytics is a woman-founded and woman-led CTA that's pioneering the use of artificial intelligence and deep reinforcement learning to build and manage alternative investment strategies for institutional and private Read More
Blackstone Big Ambitions
In a recent interview with Bloomberg Steven Schwarz, chairman of The Blackstone Group L.P. (NYSE:BX), said that he could see the company’s assets under management easily reaching $500 billion. The firm recently partnered with Carl Icahn in an attempt to buy beleaguered PC maker Dell Inc. (NASDAQ:DELL), though the company withdrew from that offer fairly quickly.
The firm’s first quarter earnings report goes a long way in explaining the company’s bullishness in the second quarter. The Blackstone Group L.P. (NYSE:BX) is a company on the rise, and it doesn’t mind letting everyone around them know. Since the start of 2013 the company’s stock has risen in value by more than 40 percent, leaving it with a P/E ratio of over 22.
Private Equity Boom
Private equity, a sphere in which The Blackstone Group L.P. (NYSE:BX) operates with glee, is performing well at the moment and is likely to continue to do so, according to recent reports. Some analysts are quite bullish on Blackstone in particular, pointing to the firm as a likely outperformer in the private equity market.
Inflows in private equity also appear to be impressive, signaling greater investor optimism about the sector. If Blackstone continues to perform as it has in the first half of the year, it might very well be able to reach the $500 billion assets under management milestone.
The Blackstone Group L.P. (NYSE:BX) will host an earnings call at 11 am EDT in order to discuss this earnings release. Top of the list of priorities for investors and analysts on the call will be the company’s expansion plans and the firm’s take on the domestic and international economic situation.