Blackstone Group (BX) / Steve Schwarzman

Re: Blackstone Group (BX)

Postby winston » Fri Jan 29, 2016 8:13 pm

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Blackstone Group 4Q Net Profit Down 23% to US$880M

Blackstone, the global investment and consultant firm, announced its full-year results for the period ended 31 December 2015.

Its revenue dived 40% yearly to US$4.556 billion.

Economic net income (ENI) tumbled 51% yearly to US$2.15 billion. Net profit rose 25% yearly to US$3.844 billion.

For the fourth quarter of 2015. its revenue dived 59% yearly to US$877 million. ENI collapsed 70% to US$436 million. Net profit gave up 23% to US$878 million.

Source: AAStocks Financial News
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Re: Blackstone Group (BX)

Postby winston » Sat Feb 27, 2016 7:58 pm

Schwarzman Gets $734 Million in Record Year for Blackstone

by Devin Banerjee

Co-founder, biggest shareholder has 12% jump in total payout

Dividend policy diverges from KKR, founded by Kravis, Roberts

Source: Bloomberg

http://www.bloomberg.com/news/articles/ ... one-profit
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Re: Blackstone Group (BX) / Steve Schwarzman

Postby winston » Sun Feb 28, 2016 8:39 pm

The Top 5 Positions in Stephen Schwarzman's Portfolio (HLT, NXPI)

By Steven Nickolas

Source: Investopedia

http://www.investopedia.com/articles/in ... z41SwMfiwo
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Re: Blackstone Group (BX) / Steve Schwarzman

Postby winston » Thu Apr 21, 2016 9:18 pm

Blackstone earnings miss forecast in choppy markets

Source: Reuters

http://www.reuters.com/article/us-black ... ess%200900
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Re: Blackstone Group (BX) / Steve Schwarzman

Postby winston » Sat Jul 09, 2016 8:34 pm

F-Rated Duds to Ditch: Blackstone Group (BX)

Ditch It Because: Global exposure

Blackstone Group LP (NYSE:BX) is now one of the world’s top alternative investment companies.

That means it invests in real assets other than stocks — like real estate, infrastructure projects, corporations, hedge funds, etc. It also means most of its divisions are not doing very well.

In good times, BX is a great company to own. But in slack times, none of its divisions will make much headway and its global exposure means all its foreign assets get cheaper relative to a strong dollar. Essentially, its earnings aren’t improving any time soon.

BX is off 18% for the year, so even its massive 8.9% dividend isn’t going to save you. And don’t fall for the contrarian argument that it’s attractive because it’s down. The problem is, we have no idea what the downside risk is here so we don’t know if it outweighs its upside potential.

That is clear and present uncertainty and poison to the markets.

Source: Investor Place
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Re: Blackstone Group (BX) / Steve Schwarzman

Postby winston » Wed Sep 21, 2016 10:08 am

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Dividend Stocks to Sell: Blackstone Group (BX)

Dividend Yield: 6.6%

Blackstone Group LP (NYSE:BX) is an asset management firm that pays a yield of 6.7%.

Not only does the company have nearly $7 billion in debt, but like FTR, its free cash flow does not support the current payout. Furthermore, BX does not have a good history of consistent, predictable dividends.

Blackstone has earned less than $1 billion in free cash flow over the past year. Yet, it has paid $2.5 billion to fund its dividend. That’s a formula that does not last long.

When you incorporate the risk of rising interest rates on all the debt BX uses to fund investments and pay its dividend, there is a good chance that Blackstone will be forced to make cuts sooner rather than later.

Source: Investor Place
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Re: Blackstone Group (BX) / Steve Schwarzman

Postby winston » Fri Dec 02, 2016 10:14 am

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This Stock Yields 6.3% and is Undervalued

by Nathan Slaughter

Blackstone Group (NYSE: BX) is the largest private equity firm on Wall Street and the largest private real-estate investor in the U.S.

Blackstone owns 144 million square feet of office space, 284,000 hotel keys, 116,000 multifamily units, and more than 30,000 single-family homes.

Although Blackstone specializes in real estate, it also operates in distressed debt, hedge fund solutions, and financial advisory.


Blackstone’s P/E ratio of 14 is an 8% discount to the industry average of 16 and a 25% discount to the S&P 500′s 18.5.

Risks To Consider: Rising interest rates are a potential drag on Blackstone’s profitability. New projects would need to be financed with higher lending costs, weighing on profitability.

Action To Take: Blackstone is the largest real estate investor in the country. That makes the private equity firm a direct play on record rent prices.

In a world of low interest rates, Blackstone’s 6.3% yield is compelling. Despite the strong outlook, shares are undervalued to their peers and the S&P 500. I’m going to be keeping this stock on my radar.


Source: High-Yield Investing

http://dailytradealert.com/2016/12/01/t ... dervalued/
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Re: Blackstone Group (BX) / Steve Schwarzman

Postby winston » Thu Jan 05, 2017 9:31 pm

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Why Blackstone Is Credit Suisse’s Top Asset Manager Pick For 2017

By Teresa Rivas

Siegenthaler writes that Blackstone sports an attractive valuation on several metrics, and he argues that Blackstone could double its distributable earnings per share from 2015 (in the low $3 range) over the next three to five years, putting it at $6 to $7 by 2019-2021.

Putting a 9 times valuation on this distributable earnings level would put Blackstone around $60, more than double where it trades at today.

But he argues you don’t have to wait for 2019 to get results: Siegenthaler expects that 2017 will be a “significantly” stronger year than 2016, thanks to several large real estate and private equity sales and scheduled investments, while its hedge fund business is nearing its high water mark.

More from his note:

BX is a “fundraising machine”: Key to our investment thesis is BX’s ability to
(1) innovate product and
(2) raise large amounts of capital.

Over the last three years, Blackstone has raised a similar level of capital to its four largest public competitors combined, and has generated the strongest FE AuM growth rate (despite being the largest).

Depending on the changes to tax rates (corp, accrued carry, personal…), each alternative firm has the optionality to re-class from PTP to C-corp.

We think this would greatly expand the universe of investors that could buy BX, and also allow for inclusion in key indexes (S&P 500, Russell 1000). While it is difficult to estimate the valuation step-up that the re-class could trigger, we assume at least a 5% P/E lift.

Blackstone is up 2.8% in Wednesday morning trading.

Source: Barron's

http://blogs.barrons.com/focusonfunds/2 ... yptr=yahoo
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Re: Blackstone Group (BX) / Steve Schwarzman

Postby winston » Fri Jan 27, 2017 11:04 am

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<US Co. Results>Blackstone 4Q16 Result Beats Estimates

Blackstone, the largest private equity company in the world, released the fourth quarter of 2016 (4Q16) and 2016 results.

During 4Q16, the net income attributable to shareholders soared 83% yearly to US$368 million; basic income per common unit amounted to US56 cents; economic net income (ENI) amounted to US$812 million; and the ENI per common unit amounted to US68 cents, higher than market expectation of US66 cents.

During the quarter, revenue soared 75% yearly to US$1.569 billion.

For the whole 2016, the net income attributable to shareholders gained 46% yearly to US$1.04 billion; basic income per common unit amounted to US$1.6; revenue rose 10% yearly to US$5.13 billion.

The unit price of Blackstone rose 1.9% yesterday (26 January) to US$31.21.

Source: AAStocks Financial News
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Re: Blackstone Group (BX) / Steve Schwarzman

Postby winston » Sat Jan 28, 2017 3:39 pm

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Brighter 2017 for Blackstone

We think the environment’s improving for the wide-moat firm.

By Stephen Ellis

Blackstone (BX) reported strong fourth-quarter results, and after a challenging industry environment in 2016, we think the alternative asset manager’s outlook is beginning to improve.

Blackstone’s fourth-quarter numbers were good. Revenue jumped 79% to $1.6 billion thanks to a near tripling in incentive income, economic income improved 86% to $812 million, and assets under management increased 9% to $367 billion due to diversified inflows across credit, private equity, real estate, and solutions.


Source: Morningstar

http://news.morningstar.com/articlenet/ ... yptr=yahoo
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