The Blackstone Group L.P. Price Target Increased to $42.00 by Analysts at Citigroup Inc. (BX)
Citigroup Inc. raised their price target on shares of The Blackstone Group L.P. (NYSE:BX) from $35.00 to $42.00 in a research note issued on Friday, American Banking News.com reports. Citigroup Inc.’s price target would suggest a potential upside of 28.24% from the company’s current price.
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 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 was the recipient of some unusual options trading activity on Thursday. Stock traders bought 37,826 call options on the company. 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 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. 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. Stockholders 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 boost from The Blackstone Group L.P.’s previous quarterly dividend of $0.23.
BX has been the subject of a number of other recent research reports. Analysts at Jefferies Group raised their price target on shares of The Blackstone Group L.P. from $35.00 to $37.00 in a research note to investors on Friday. Separately, 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. Finally, 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. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $48.78.
The Blackstone Group L.P. (NYSE:BX) is a manager of private capital and provider of financial advisory services.
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