Alternative investment manager Blackstone (NYSE: BX) will be reporting earnings this Thursday before market hours. Here’s what investors should know.
Blackstone beat analysts’ revenue expectations last quarter, reporting revenues of $3.97 billion, down 5.1% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ revenue estimates and a beat of analysts’ EPS estimates.
Is Blackstone a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Blackstone’s revenue to grow 22.5% year on year, improving from the 9.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Blackstone rarely misses Wall Street’s revenue estimates.
Looking at Blackstone’s peers in the capital markets segment, some have already reported their Q1 results, giving us a hint as to what we can expect. BNY delivered year-on-year revenue growth of 13.8%, beating analysts’ expectations by 4.3%, and Northern Trust reported revenues up 13.8%, topping estimates by 4%. BNY traded up 2.4% following the results.
Read our full analysis of BNY’s results here and Northern Trust’s results here.
There has been positive sentiment among investors in the capital markets segment, with share prices up 11.8% on average over the last month. Blackstone is up 18.9% during the same time and is heading into earnings with an average analyst price target of $144.65 (compared to the current share price of $129.98).
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