Have you been eager to see how Blackstone (BX - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based premier global investment and advisory firm’s earnings release this morning:
An Earnings Miss
Blackstone came out with distributable earnings of 44 cents per share, which missed the Zacks Consensus Estimate of 52 cents.
Rise in expenses hurt results.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Blackstone depicted pessimistic stance prior to the earnings release. The Zacks Consensus Estimate has revised 7.1% lower over the last seven days.
However, Blackstone has an impressive earnings surprise history. Before posting the earnings lag in Q1, the company delivered positive surprises in three of the four trailing quarters.
Revenue Came In Better Than Expected
Blackstone posted total revenues (on a GAAP basis) of $2.02 billion, which outpaced the Zacks Consensus Estimate of $1.63 billion. Also, the figure increased 14% from the prior-year quarter.
Key Stats to Note:
- Total assets under management stood at $511.8 billion as of Mar 31, 2019.
- Inflows were $42.9 billion in the quarter.
- Total Dry Powder was $132.6 billion.
- The company announced that it will convert itself from a publicly traded partnership to a corporation, effective Jul 1, 2019.
What Zacks Rank Says
Blackstone currently carries a Zacks Rank #5 (Strong Sell). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look unfavorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this Blackstone earnings report!
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?
Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.
See Latest Stocks Today >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Have you been eager to see how Blackstone (BX - Free Report) performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this New York-based premier global investment and advisory firm’s earnings release this morning:
An Earnings Miss
Blackstone came out with distributable earnings of 44 cents per share, which missed the Zacks Consensus Estimate of 52 cents.
Rise in expenses hurt results.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Blackstone depicted pessimistic stance prior to the earnings release. The Zacks Consensus Estimate has revised 7.1% lower over the last seven days.
However, Blackstone has an impressive earnings surprise history. Before posting the earnings lag in Q1, the company delivered positive surprises in three of the four trailing quarters.
Revenue Came In Better Than Expected
Blackstone posted total revenues (on a GAAP basis) of $2.02 billion, which outpaced the Zacks Consensus Estimate of $1.63 billion. Also, the figure increased 14% from the prior-year quarter.
Key Stats to Note:
What Zacks Rank Says
Blackstone currently carries a Zacks Rank #5 (Strong Sell). However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look unfavorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this Blackstone earnings report!
Zacks' Top 10 Stocks for 2019
In addition to the stocks discussed above, would you like to know about our 10 finest buy-and-holds for the year?
Who wouldn't? Our annual Top 10s have beaten the market with amazing regularity. In 2018, while the market dropped -5.2%, the portfolio scored well into double-digits overall with individual stocks rising as high as +61.5%. And from 2012-2017, while the market boomed +126.3, Zacks' Top 10s reached an even more sensational +181.9%.
See Latest Stocks Today >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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