Private equity giant Blackstone Group (NYSE: BX) and leading grocery chain Kroger Co. (NYSE: KR) are scheduled to report earnings this week. Here's a quick peek at them ahead of results.
Blackstone went public in 2007 and has yet to beat earnings estimates. When the company reported third-quarter results back in November, earnings came to 21 cents per share, well below the consensus forecast of analysts polled by Thomson Financial of 30 cents, as well as the previous quarter's earnings of 46 cents (its first report after the IPO). For the current quarter, analysts expect only 19 cents per share, and $1.47 for the year.
The analysts' consensus recommendation is to buy Blackstone, with 3 of 8 analysts rating it a strong buy. Shares have fallen since the IPO to a low of $14.16 last week, but closed Friday at $14.58.
For news about Blackstone that could influence the earnings results, see BloggingStocks' Blackstone coverage.
Kroger has beat earnings expectations in the past five quarters. When it reported third-quarter results back in December, its 37 cents per share earnings beat the consensus forecast of analysts surveyed by Thomson Financial by two cents, and was up from 30 cents in the same period of the previous year. For the current quarter, analysts expect 47 cents per share, compared to 51 cents in the year-ago quarter. Analysts expect $1.70 for the full year, up from $1.52 in 2007.
Kroger's earnings per share growth forecast for the next three to five years is 5.9%, which is better than that of competitor Safeway Inc. (NYSE: SWY), but not as good as the industry average of $15.5%. The consensus analysts' recommendation is to buy Kroger, and has been for at least six months. Shares closed Friday at $25.66, still well off the 52-week high of $31.94 last June.
For news about Kroger and its rivals that could influence the earnings results, see BloggingStocks' Kroger coverage.
Blackstone is scheduled to release results tomorrow, Kroger on Tuesday.
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