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Blackstone Set to Report Q3 Earnings: What in the Offing?
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Blackstone (BX - Free Report) is scheduled to report third-quarter 2024 results on Oct. 17, before the opening bell. Its revenues and earnings are likely to have improved on a year-over-year basis.
Stay up-to-date with all quarterly releases: See ZacksEarnings Calendar.
In the last reported quarter, the company’s earnings lagged the Zacks Consensus Estimate. Results were adversely impacted by higher expenses. On the other hand, an increase in segment revenues and an improvement in the assets under management (AUM) balance were the tailwinds.
Blackstone has a decent earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in two and lagged in two of the trailing four quarters, with the average surprise being 2.43%.
The Zacks Consensus Estimate for Blackstone’s earnings of 97 cents per share has been revised 7.6% lower over the past seven days. The figure indicates a rise of 3.2% from the prior-year quarter’s reported number.
The consensus estimate for sales is pegged at $2.60 billion, which suggests a rise of 12.1%.
Key Factors to Note & Q3 Estimates for Blackstone
Blackstone has been witnessing increases in fee-earning AUM and total AUM on the back of its diversified product and revenue mix, superior position in the alternative investments space and net inflows.
Given the high market volatility and increased client activity in the third quarter, Blackstone is expected to have recorded a rise in the AUM balance as inflows grew. The Zacks Consensus Estimate for total AUM of $1.1 trillion indicates growth of 9.6% from the prior-year quarter. The consensus estimate for total fee-earning AUM of $832.1 billion suggests a rise of 13.3%.
The Zacks Consensus Estimate for total management and advisory fees (segment revenues) is pegged at $1.82 billion, which indicates a 10.2% increase. The consensus estimate for fee-related performance revenues (segment revenues) of $210.6 million suggests a decline of 23.3% from the prior-year quarter.
Blackstone’s expenses have been elevated over the past few years mainly because of higher general, administrative and other expenses. As the company has continued to invest in franchises, expenses are expected to have risen to some extent in the third quarter.
What Our Model Predicts for BX
According to our quantitative model, the chances of Blackstone beating the Zacks Consensus Estimate for earnings this time are low. This is because it does not have the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or better.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Blackstone is -5.20%.
Zacks Rank: The company currently carries a Zacks Rank #3.
Finance Sector Stocks Worth a Look
Here are a couple of finance sector stocks that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this time:
The Earnings ESP for First Horizon (FHN - Free Report) is +3.18% and it carries a Zacks Rank #3 at present. The company is slated to report third-quarter 2024 results on Oct. 16.
Over the past seven days, the Zacks Consensus Estimate for FHN’s quarterly earnings has remained unchanged at 38 cents.
Image: Shutterstock
Blackstone Set to Report Q3 Earnings: What in the Offing?
Blackstone (BX - Free Report) is scheduled to report third-quarter 2024 results on Oct. 17, before the opening bell. Its revenues and earnings are likely to have improved on a year-over-year basis.
Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.
In the last reported quarter, the company’s earnings lagged the Zacks Consensus Estimate. Results were adversely impacted by higher expenses. On the other hand, an increase in segment revenues and an improvement in the assets under management (AUM) balance were the tailwinds.
Blackstone has a decent earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in two and lagged in two of the trailing four quarters, with the average surprise being 2.43%.
Blackstone Inc. Price and EPS Surprise
Blackstone Inc. price-eps-surprise | Blackstone Inc. Quote
The Zacks Consensus Estimate for Blackstone’s earnings of 97 cents per share has been revised 7.6% lower over the past seven days. The figure indicates a rise of 3.2% from the prior-year quarter’s reported number.
The consensus estimate for sales is pegged at $2.60 billion, which suggests a rise of 12.1%.
Key Factors to Note & Q3 Estimates for Blackstone
Blackstone has been witnessing increases in fee-earning AUM and total AUM on the back of its diversified product and revenue mix, superior position in the alternative investments space and net inflows.
Given the high market volatility and increased client activity in the third quarter, Blackstone is expected to have recorded a rise in the AUM balance as inflows grew. The Zacks Consensus Estimate for total AUM of $1.1 trillion indicates growth of 9.6% from the prior-year quarter. The consensus estimate for total fee-earning AUM of $832.1 billion suggests a rise of 13.3%.
The Zacks Consensus Estimate for total management and advisory fees (segment revenues) is pegged at $1.82 billion, which indicates a 10.2% increase. The consensus estimate for fee-related performance revenues (segment revenues) of $210.6 million suggests a decline of 23.3% from the prior-year quarter.
Blackstone’s expenses have been elevated over the past few years mainly because of higher general, administrative and other expenses. As the company has continued to invest in franchises, expenses are expected to have risen to some extent in the third quarter.
What Our Model Predicts for BX
According to our quantitative model, the chances of Blackstone beating the Zacks Consensus Estimate for earnings this time are low. This is because it does not have the right combination of the two key ingredients — a positive Earnings ESP and a Zacks Rank #3 (Hold) or better.
You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Earnings ESP: The Earnings ESP for Blackstone is -5.20%.
Zacks Rank: The company currently carries a Zacks Rank #3.
Finance Sector Stocks Worth a Look
Here are a couple of finance sector stocks that you may want to consider, as our model shows that these have the right combination of elements to post an earnings beat this time:
The Earnings ESP for First Horizon (FHN - Free Report) is +3.18% and it carries a Zacks Rank #3 at present. The company is slated to report third-quarter 2024 results on Oct. 16.
Over the past seven days, the Zacks Consensus Estimate for FHN’s quarterly earnings has remained unchanged at 38 cents.
F.N.B. Corp. (FNB - Free Report) is scheduled to release third-quarter 2024 earnings on Oct. 17. The company, which carries a Zacks Rank #3 at present, has an Earnings ESP of +0.93%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
FNB’s quarterly earnings estimates have remained unchanged at 36 cents over the past week.