Jefferies Group Increases The Blackstone Group L.P. Price Target to $42.00 (BX)
Jefferies Group raised their price objective on shares of The Blackstone Group L.P. (NYSE:BX) from $37.00 to $42.00 in a research note issued on Friday. Jefferies Group’s target price indicates a potential upside of 23.02% from the company’s current price.
The Blackstone Group L.P. (NYSE:BX) opened at 34.14 on Friday. The Blackstone Group L.P. has a one year low of $21.30 and a one year high of $35.39. The stock’s 50-day moving average is $33.01 and its 200-day moving average is $32.06. The company has a market cap of $19.825 billion and a P/E ratio of 15.98.
The Blackstone Group L.P. (NYSE:BX) last issued its quarterly earnings data on Thursday, July 17th. The company reported $0.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.69 by $0.04. The company had revenue of $938.88 million for the quarter, compared to the consensus estimate of $1.53 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. The company’s revenue for the quarter was up 56.2% on a year-over-year basis. On average, analysts predict that The Blackstone Group L.P. will post $3.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, August 4th. Stockholders of record on Monday, July 28th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 6.44%. The ex-dividend date of this dividend is Thursday, July 24th.
Other equities research analysts have also recently issued reports about the stock. 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. Separately, 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 given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $35.32.
The Blackstone Group L.P. (NYSE:BX) is a manager of private capital and provider of financial advisory services.
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