Why Earnings Beat Is Less Likely For Blackstone (BX) In Q3?
Zacks Investment Research | Oct 16, 2017 11:03PM ET
The Blackstone Group L.P. (NYSE:BX) is scheduled to report third-quarter 2017 results before the opening bell on Oct 19. Its revenues and earnings are expected to grow year over year.
Last quarter, the company’s economic net income lagged the Zacks Consensus Estimate. Higher expenses were partially offset by a rise in revenues.
Blackstone boasts an impressive earnings surprise history. Its earnings surpassed the Zacks Consensus Estimate in three of the trailing four quarters, with an average positive surprise of 8.4%.
However, activities of the company in the third quarter failed to win analysts’ confidence. As a result, its Zacks Consensus Estimate for earnings of 59 cents has decreased 9.2% over the last 30 days. Nevertheless, the figure reflects a year-over-year improvement of 2.8%.
Also, the company’s Zacks Consensus Estimate for sales of $1.49 billion reflects an improvement of 4.2% from the year-ago quarter.
The company’s price performance does not seem very impressive either. Its shares have gained 23% year to date, underperforming the 25.6% rally of the Zacks Investment Research
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