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OptionsZone Experts, August 26, 2009
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Before you make a single high-yield investment, you must read this.
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The Blackstone Group (BX)
By Bryan Perry
The Blackstone Group (BX) is one of the world's leading investment advisory firms. It reported Q1 2009 results that beat estimates by 3 cents, and a net income loss that was much less than Q4 2008. Following the upbeat report, BX shares spiked to $15 before settling back down to around $13, which a good entry point.
Blackstone declared a quarterly distribution of 30 cents per common share, and management assured me personally that they were confident they could cover the $1.20 annual payout for 2009, with the possibility of a hike in 2010 if/when the economy rebounds. That $1.20 annual distribution translates to a 9% current distribution yield. Revenues for 2010 are expected to jump by 90%, and earnings are forecast to explode by 196% during 2009, with nine analysts looking for a composite 83 cents per share in earnings. My target for BX is $20.
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