The Blackstone Group L.P. Sets New 1-Year High at $24.64 (BX)
The Blackstone Group L.P. (NYSE:BX)’s share price reached a new 52-week high during trading hours on Wednesday, Stock Ratings Network.com reports. The company traded as high as $24.64 and last traded at $24.48, with a volume of 6,264,682 shares traded. The stock had previously closed at $23.70.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of The Blackstone Group L.P. (NYSE:BX) in a research note to investors on Wednesday. They now have a $24.50 price target on the stock. Separately, analysts at Merrill Lynch upgraded shares of The Blackstone Group L.P. (NYSE:BX) from a “neutral” rating to a “buy” rating in a research note to investors on Monday. Finally, analysts at Bank of America Corp. upgraded shares of The Blackstone Group L.P. (NYSE:BX) from a “neutral” rating to a “buy” rating in a research note to investors on Monday. They now have a $28.00 price target on the stock, up previously from $25.00.
Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $27.13.
The Blackstone Group L.P. has a 52-week low of $13.31 and a 52-week high of $24.64. The stock’s 50-day moving average is $22.4 and its 200-day moving average is $21.4. The company has a market cap of $13.792 billion and a P/E ratio of 21.99.
The Blackstone Group L.P. (NYSE:BX) last posted its quarterly earnings results on Thursday, July 18th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.08. The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 129.7% on a year-over-year basis. Analysts expect that The Blackstone Group L.P. will post $2.37 EPS for the current fiscal year.
The Blackstone Group L.P. (NYSE:BX) is a manager of private capital and provider of financial advisory services.
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