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The Blackstone Group L.P. Message Board

  • jodyshah jodyshah Jul 6, 2012 8:46 AM Flag

    JPM Reduces BX Earnings for 2Q

    Ref: - JP Morgan reduces second quarter earnings forecast for BX to 12 Cents. See Article below:

    Investors' Soapbox PM THURSDAY, JULY 5, 2012

    Alternative Asset Managers Hit a Soft Patch
    JMP Securities notes the group will see weaker second-quarter results.

    JMP Securities

    We are reducing second-quarter earnings-per-share estimates due to lowered performance expectations.

    This report focuses on the private-equity-centric alternative-asset managers in our coverage universe (Apollo Global Management (ticker: APO), Blackstone Group (BX) and Kohlberg Kravis Roberts & Co. (KKR)).

    Reflecting the soft performance in the global equity markets, we believe the volatile quarterly mark-to-market process will negatively impact the second quarter, and we are reducing our quarterly EPS forecasts for Apollo to a loss of three cents (from earnings of 67 cents), Blackstone to 12 cents (from 41 cents), and KKR to five cents (from 46 cents).

    While economic ...

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