The Blackstone Group L.P. Given New $37.00 Price Target at Jefferies Group (BX)
Analysts at Jefferies Group increased their price target on shares of The Blackstone Group L.P. (NYSE:BX) from $35.00 to $37.00 in a research report issued to clients and investors on Friday, Analyst Ratings Network reports. Jefferies Group’s target price would indicate a potential upside of 12.98% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at RBC Capital raised their price target on shares of The Blackstone Group L.P. from $32.00 to $38.00 in a research note to investors on Friday. They now have an “outperform” rating on the stock. Separately, analysts at Deutsche Bank initiated coverage on shares of The Blackstone Group L.P. in a research note to investors on Tuesday. They set a “buy” rating and a $39.00 price target on the stock. Finally, 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. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $48.78.
Shares of The Blackstone Group L.P. (NYSE:BX) traded up 1.61% during mid-day trading on Friday, hitting $32.75. The stock had a trading volume of 9,070,618 shares. The Blackstone Group L.P. has a one year low of $17.63 and a one year high of $33.41. The stock has a 50-day moving average of $31.29 and a 200-day moving average of $26.45. The company has a market cap of $18.496 billion and a P/E ratio of 28.50. The Blackstone Group L.P. also saw some unusual options trading activity on Thursday. Stock investors bought 37,826 call options on the stock. This is an increase of approximately 150% compared to the typical volume of 15,145 call options.
The Blackstone Group L.P. (NYSE:BX) last posted its quarterly earnings results on Friday, January 31st. The company reported $0.68 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.64 by $0.04. The company had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $1.39 billion. On average, analysts predict that The Blackstone Group L.P. will post $2.95 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, February 18th. Investors of record on Monday, February 10th will be given a dividend of 0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 7.08%. The ex-dividend date of this dividend is Thursday, February 6th. This is an increase from The Blackstone Group L.P.’s previous quarterly dividend of $0.23.
The Blackstone Group L.P. (NYSE:BX) is a manager of private capital and provider of financial advisory services.
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