The Blackstone Group L.P. Given New $38.00 Price Target at RBC Capital (BX)
Analysts at RBC Capital boosted their price target on shares of The Blackstone Group L.P. (NYSE:BX) from $32.00 to $38.00 in a research report issued to clients and investors on Friday, American Banking and Market News reports. The firm currently has an “outperform” rating on the stock. RBC Capital’s target price would suggest a potential upside of 16.03% from the stock’s previous close.
The Blackstone Group L.P. (NYSE:BX) traded up 1.61% 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’s 50-day moving average is $31.41 and its 200-day moving average is $26.53. The company has a market cap of $18.496 billion and a price-to-earnings ratio of 28.50. The Blackstone Group L.P. also was the recipient of unusually large options trading on Thursday. Investors acquired 37,826 call options on the stock. This represents an increase of 150% compared to the average volume of 15,145 call options.
The Blackstone Group L.P. (NYSE:BX) last announced its earnings results on Friday, January 31st. The company reported $0.68 earnings per share (EPS) for the quarter, beating the 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. Analysts expect that The Blackstone Group L.P. will post $2.95 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, February 18th. Shareholders of record on Monday, February 10th will be paid a dividend of 0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 7.08%. The ex-dividend date is Thursday, February 6th. This is a positive change from The Blackstone Group L.P.’s previous quarterly dividend of $0.23.
Several other analysts have also recently commented on the stock. 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. Separately, 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. Finally, 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. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $48.78.
The Blackstone Group L.P. (NYSE:BX) is a manager of private capital and provider of financial advisory services.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.