The Blackstone Group L.P. (BX) Posts Quarterly Results
The Blackstone Group L.P. (NYSE:BX) announced its earnings results on Thursday. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by $0.04, ARN reports. The company had revenue of $938.88 million for the quarter, compared to the consensus estimate of $1.53 billion.
The Blackstone Group L.P. (NYSE:BX) opened at 33.98 on Thursday. The Blackstone Group L.P. has a 52-week low of $21.30 and a 52-week high of $35.39. The stock has a 50-day moving average of $32.87 and a 200-day moving average of $32.04. The company has a market cap of $19.732 billion and a price-to-earnings ratio of 15.71. The Blackstone Group L.P. also saw unusually large options trading activity on Monday. Stock investors bought 9,694 call options on the stock. This represents an increase of approximately 240% compared to the average daily volume of 2,849 call options.
A number of analysts have recently weighed in on BX shares. Analysts at Deutsche Bank reiterated a “buy” rating on shares of The Blackstone Group L.P. in a research note on Monday. They now have a $41.00 price target on the stock, up previously from $40.00. On a related note, analysts at Zacks reiterated a “neutral” rating on shares of The Blackstone Group L.P. in a research note on Monday, June 16th. They now have a $34.50 price target on the stock. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The Blackstone Group L.P. has a consensus rating of “Buy” and an average price target of $34.96.
The Blackstone Group L.P. (NYSE:BX) is a manager of private capital and provider of financial advisory services.