28.10 0.00 (0.00%)
After hours: 4:25PM EDT
|Bid||27.00 x 100|
|Ask||30.00 x 200|
|Day's Range||28.00 - 28.49|
|52 Week Range||25.61 - 37.35|
|PE Ratio (TTM)||9.06|
|Earnings Date||May 3, 2018|
|Forward Dividend & Yield||2.06 (7.25%)|
|1y Target Est||39.14|
In 1Q18, The Blackstone Group’s (BX) credit division’s total revenue fell 11% YoY (year-over-year) to $202.1 million from $226.3 million. Its performing credit delivered 3.2% in composite gross returns, while its distressed strategies delivered -0.3%.
The Blackstone Group’s (BX) real estate revenue fell substantially YoY (year-over-year) in 1Q18, by 17% to $641 million from $774.9 million. Its principal investment income fell 51% YoY to $17.3 million from $35.7 million, and its performance revenue fell 26% YoY. The division’s opportunistic funds’ carrying value rose 3.5%, mainly due to private investments, and the carrying value of the division’s core plus funds appreciated 3.4%.
In 1Q18, The Blackstone Group’s (BX) corporate private equity division grew 6.4% thanks to its private portfolio. It deployed $4 billion toward Paysafe, Strategic Partners, and Tactical Opportunities. The division’s total revenue rose 9% YoY (year-over-year) to $681.1 million, and its net management and advisory fees rose 6% YoY from $180.6 million to $190.8 million.
The Blackstone Group (BX) posted strong 1Q18 results on April 19. The company reported EPS (earnings per share) of $0.65, exceeding analysts’ expectation by $0.15, but lower than its 4Q17 EPS. It generated net economic income of $792 million, marking a YoY (year-over-year) decline. Alternative asset managers (XLF) such as Carlyle (CG), KKR (KKR) and Apollo Global Management (APO) are impacted by having a high valuation, which decreases their chances of making deployments.
A plan to carve out and sell the performing assets of Cyprus Cooperative Bank Ltd is attracting interest from U.S. investment funds, said Nicholas Hadjiyiannis, Chief Executive Officer of the troubled ...
Insider buying can be an encouraging signal for potential investors/ An insider made a buy after a financial giant posted quarterly earnings. An insider at a software company bucked the trend of executives ...
Private-equity firm Apollo Global Management LLC is preparing to take Diamond Resorts public in the coming months, according to people familiar with the process. The timeshare resort company has filed confidentially with the Securities and Exchange Commission and is expected to start trading in June or July, these people said. Apollo could seek a valuation for Diamond Resorts of around $4 billion and aim to raise in excess of $500 million in the offering, though price expectations are moving around, according to people familiar with the process.
MADRID/LONDON (Reuters) - The private equity funds of Blackstone (BX.N) and Apollo (APO.N) are the only two bidders left in the sale of Spanish gaming hall operator Cirsa, raising doubts about whether the sale will go ahead, sources familiar with the matter said. The sale process is due to wrap up any day now, but Cirsa, which has also explored the possibility of a market listing, is disappointed with so few bids, two of the sources said. Spokesmen for Apollo and Blackstone and a spokeswoman for Cirsa declined to comment.
In the world of country club business, this new development is somewhat unique.
OMAHA, Neb., April 16, 2018-- West Corporation, a global leader in technology-enabled services, announced today it has completed the acquisition of the public relations and digital media businesses from ...
Several Democratic lawmakers, including Sens. Elizabeth Warren of Massachusetts, Tom Carper of Delaware, and Gary Peters of Michigan and Rep. Elijah Cummings of Maryland sent follow-up letters to Citigroup ...
In 4Q17, Berkshire Hathaway’s (BRK.B) Services segment benefited from consumer spending, which drove revenue growth of 4% on a YoY (year-over-year) basis to $7.1 billion. Its revenue rose on NetJets, electronics, and media, which have traditionally delivered growth for the company over the past few years. In 1Q18, its revenue is expected to be subdued on a sequential basis, but it could see marginal growth of 3%–4% on a YoY basis on NetJets, furniture, and retailing.
April 12 (Reuters) - Britain's FTSE 100 index is seen opening 18 points lower at 7,239 on Thursday, according to financial bookmakers. * SHIRE: Takeda Pharmaceutical Co Ltd has sounded out creditors for ...
Aberdeen-based FirstGroup said late on Wednesday that its board had unanimously rejected a cash proposal from Apollo. The FTSE 250-listed group said it was disclosing Apollo's bid after its shares leapt 7.4 percent to close at 101.8 pence.
Apollo Global Management, LLC announced today that it plans to release its financial results for the first quarter 2018 on Thursday, May 3, 2018, before the opening of trading on the New York Stock Exchange.
The fundraising effort comes as a recovery in energy prices drives private equity firms to raise cash to invest in the oil patch. Fourteen natural resources-focused private equity funds completed fundraising in the first quarter of 2018, raising a combined $13 billion, according to market research firm Preqin. Apollo Chief Executive Leon Black told an industry conference last month that the New York-based firm expected to raise another private equity fund which would invest in natural resources this year, having invested around 80 percent of its predecessor fund, Apollo Natural Resources Partners II.
The Carlyle Group (CG) generates fee revenue from net portfolio advisory, fund management, and net transaction fees. In 4Q17, the company generated total fee revenue of $305.4 million, of which fund management fees contributed $289.8 million (94.8%). During the same period, the company generated total segment revenue of $0.97 billion. In comparison, competitors (XLF) The Blackstone Group (BX), KKR (KKR), and Apollo Global Management (APO) generated revenue of $1.9 billion, $0.40 billion, and $0.86 billion, respectively, in 4Q17.
On March 27, 2018, AkzoNobel announced it would be selling its specialty chemicals business to GIC and The Carlyle Group (CG) for $12.5 billion. The private equity companies are sitting on a substantial amount of cash, raising concerns among market participants and fund investors. From the past few years, these companies have seen substantial fundraising, creating a need for such huge investments. Carlyle raised $43.3 billion in 2017, while Apollo Global Management (APO) saw total inflows of $56.5 billion.
The Carlyle Group’s (CG) Corporate Private Equity segment’s carry funds rose 8% in 4Q17 and 32% in 2017. However, this strong momentum is not expected to continue in 1Q18, mainly due to equity markets’ performance. In 1Q18, private equity players’ (XLF) fundraising activities are expected to be impacted by trade war tensions resulting in equity market fluctuation. However, lower fundraising could also lead to lower fundraising expenses.
The Carlyle Group’s (CG) global credit segment generated fund-level fee revenue of $192.2 million in 2017, representing a YoY (year-over-year) decline. Between 2016 and 2017, the segment’s fund management fees fell to $191.5 million from $195.5 million, and its total performance fees rose to $59.1 million to $37.8 million. However, the segment’s total revenue rose to $282.5 million from $264.2 million.