As a great continues in private equity, The Blackstone Group L.P. (NYSE:BX) will report its earnings for the third quarter of the year on Thursday before the market opens on Wall Street. Investors will be hoping the company can beat analysts expectations again in the coming quarter. The firm has managed to beat expectations in every quarter of the last four.
The numbers The Blackstone Group L.P. (NYSE:BX) will be looking to beat, calculated by analyst consensus, are EPS of 56 cents per share and revenue of $1.3 billion. In the same three months of 2012 Blackstone earned 55 cents per share on revenues totaling $1.2 billion.
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Blackstone Group performance
Investors in The Blackstone Group L.P. (NYSE:BX) will be hoping the company’s excellent performance for the year so far will continue through tomorrow’s announcement. Since January 2, shares in the company have risen by more than 70%. There may be problems for Blackstone this time around. The investing world changed in the third quarter, and results at the company may have suffered on higher interest rates.
Analysts at Sandler O’Neill recently rose their price target on Blackstone to $30 per share. The report highlighted the amount of growth expected in earnings in the coming quarters. Most analysts seem to be optimistic about The Blackstone Group L.P. (NYSE:BX) in the medium term. Of the eighteen analysts following the company 16 have rated the stock a Buy, while just two rate it a Hold.
Blackstone has performed phenomenally and consistently well in recent quarters, but investing is an unsteady business and the company has a lot of growth priced into its stock. Shares in The Blackstone Group L.P. (NYSE:BX) are trading at around 25 times 2012 earnings on today’s market.
Growth at Blackstone
Performance at The Blackstone Group L.P. (NYSE:BX) in 2013 may be spectacular, but things haven’t always been that way at the company. Shares have still not reached the highs of above $35 per share they reached before the financial crisis hit the United States. The company is expected to grow in the coming years, and it’s doing its best.
In the last month alone The Blackstone Group L.P. (NYSE:BX) has bought a chain of German warehouses worth $1 billion and hotels in North America for $217 million. Blackstone is expanding—whether it can keep expanding earnings at the same time will be seen in tomorrow’s earnings report.