The Blackstone Group L.P. PT Raised to $30.00 at BMO Capital Markets (BX)
Equities researchers at BMO Capital Markets increased their target price on shares of The Blackstone Group L.P. (NYSE:BX) from $29.00 to $30.00 in a research report issued on Thursday, Analyst Ratings.Net reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would suggest a potential upside of 10.09% from the company’s current price.
The Blackstone Group L.P. (NYSE:BX) traded up 0.85% on Thursday, hitting $27.25. 8,000,837 shares of the company’s stock traded hands. The Blackstone Group L.P. has a one year low of $13.04 and a one year high of $24.31. The stock’s 50-day moving average is $22.40 and its 200-day moving average is $21.3. The company has a market cap of $15.340 billion and a P/E ratio of 25.06.
The Blackstone Group L.P. (NYSE:BX) last released its earnings data on Thursday, October 17th. The company reported $0.56 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.59 by $0.03. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts predict that The Blackstone Group L.P. will post $2.35 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, November 4th. Investors of record on Monday, October 28th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.38%.
Other equities research analysts have also recently issued reports about the stock. Analysts at Sandler O’Neill raised their price target on shares of The Blackstone Group L.P. from $27.00 to $30.00 in a research note to investors on Tuesday. They now have a “buy” rating on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of The Blackstone Group L.P. from $26.00 to $28.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Finally, analysts at Credit Suisse reiterated an “outperform” rating on shares of The Blackstone Group L.P. in a research note to investors on Monday. They now have a $30.00 price target on the stock, up previously from $27.00. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $46.77.
The Blackstone Group L.P. (NYSE:BX) is a manager of private capital and provider of financial advisory services.
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