The Blackstone Group L.P. Given New $41.00 Price Target at RBC Capital (BX)
Investment analysts at RBC Capital hoisted their price objective on shares of The Blackstone Group L.P. (NYSE:BX) from $39.00 to $41.00 in a note issued to investors on Friday. The firm currently has an “outperform” rating on the stock. RBC Capital’s price target would indicate a potential upside of 14.85% from the stock’s previous close.
A number of other analysts have also recently weighed in on BX. Analysts at Jefferies Group raised their price target on shares of The Blackstone Group L.P. from $37.00 to $42.00 in a research note on Friday. They now have a “buy” rating on the stock. Separately, 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. Finally, 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 fifteen have assigned a buy rating to the company’s stock. The Blackstone Group L.P. presently has an average rating of “Buy” and an average target price of $36.54.
Shares of The Blackstone Group L.P. (NYSE:BX) traded up 4.57% during mid-day trading on Friday, hitting $35.70. The stock had a trading volume of 12,143,029 shares. The Blackstone Group L.P. has a 52 week low of $21.30 and a 52 week 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 $20.731 billion and a price-to-earnings ratio of 16.06.
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 $3.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, August 4th. Shareholders of record on Monday, July 28th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 6.16%. The ex-dividend date is Thursday, July 24th. This is a positive change from The Blackstone Group L.P.’s previous quarterly dividend of $0.35.
The Blackstone Group L.P. (NYSE:BX) is a manager of private capital and provider of financial advisory services.
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