The Blackstone Group L.P. Price Target Increased to $40.00 by Analysts at Deutsche Bank (BX)
Research analysts at Deutsche Bank upped their price objective on shares of The Blackstone Group L.P. (NYSE:BX) from $39.00 to $40.00 in a report released on Friday, Analyst Ratings News reports. Deutsche Bank’s price objective would indicate a potential upside of 22.14% from the stock’s previous close.
A number of other analysts have also recently weighed in on BX. Analysts at Citigroup Inc. raised their price target on shares of The Blackstone Group L.P. from $35.00 to $42.00 in a research note to investors on Friday. Separately, 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. Finally, 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. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The Blackstone Group L.P. has a consensus rating of “Buy” and a consensus target price of $48.84.
Shares of The Blackstone Group L.P. (NYSE:BX) opened at 32.75 on Friday. The Blackstone Group L.P. has a 52-week low of $17.63 and a 52-week high of $33.41. The stock has a 50-day moving average of $31.41 and a 200-day moving average of $26.53. 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 target of some unusual options trading activity on Thursday. Investors acquired 37,826 call options on the company. This is 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. 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 announced a quarterly dividend, which is scheduled for Tuesday, February 18th. Investors 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 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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