The Blackstone Group L.P. Sets New 1-Year High at $32.20 (BX)
The Blackstone Group L.P. (NYSE:BX) reached a new 52-week high during trading on Friday, ARN reports. The stock traded as high as $32.20 and last traded at $32.19, with a volume of 3,260,859 shares traded. The stock had previously closed at $31.28.
A number of analysts have recently weighed in on BX shares. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of The Blackstone Group L.P. in a research note to investors on Wednesday, December 18th. They now have a $35.00 price target on the stock, up previously from $33.00. Separately, analysts at Zacks reiterated a “neutral” rating on shares of The Blackstone Group L.P. in a research note to investors on Tuesday, December 17th. They now have a $30.50 price target on the stock. Finally, analysts at Morgan Stanley raised their price target on shares of The Blackstone Group L.P. from $28.00 to $32.00 in a research note to investors on Thursday, November 14th. They now have an “overweight” rating on the stock. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The Blackstone Group L.P. presently has a consensus rating of “Buy” and an average target price of $48.17.
The Blackstone Group L.P. has a one year low of $16.07 and a one year high of $31.99. The stock’s 50-day moving average is $29.01 and its 200-day moving average is $24.. The company has a market cap of $18.180 billion and a P/E ratio of 27.66.
The Blackstone Group L.P. (NYSE:BX) last released its earnings data on Thursday, October 17th. The company reported $0.56 earnings per share for the quarter, missing the analysts’ 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.
The Blackstone Group L.P. (NYSE:BX) is a manager of private capital and provider of financial advisory services.
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