The Blackstone Group L.P. Given “A-” Credit Rating by Morningstar (BX)
The Blackstone Group L.P. (NYSE:BX) has received an “A-” credit rating from analysts at Morningstar. The credit rating agency’s “A-” rating indicates that the company is a low default risk. They also issued a negative credit outlook for the company and gave their stock a four star rating.
Other equities research analysts have also recently issued reports about the stock. Analysts at Deutsche Bank raised their price target on shares of The Blackstone Group L.P. to $42.00 in a research note on Friday, July 18th. Separately, analysts at JMP Securities raised their price target on shares of The Blackstone Group L.P. from $42.00 to $44.00 in a research note on Friday, July 18th. They now have a “market outperform” rating on the stock. Finally, analysts at Credit Suisse raised their price target on shares of The Blackstone Group L.P. from $40.00 to $41.00 in a research note on Friday, July 18th. They now have an “outperform” rating on the stock. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. The Blackstone Group L.P. presently has a consensus rating of “Buy” and an average price target of $36.77.
The Blackstone Group L.P. (NYSE:BX) opened at 33.47 on Wednesday. The Blackstone Group L.P. has a 52 week low of $21.93 and a 52 week high of $36.08. The stock’s 50-day moving average is $33.59 and its 200-day moving average is $32.48. The company has a market cap of $19.598 billion and a price-to-earnings ratio of 12.82.
The Blackstone Group L.P. (NYSE:BX) last announced its earnings results on Thursday, July 17th. The company reported $0.65 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.62 earnings per share. The Blackstone Group L.P.’s revenue was up 56.2% compared to the same quarter last year. On average, analysts predict that The Blackstone Group L.P. will post $3.86 earnings per share for the current fiscal year.
The Blackstone Group L.P. (NYSE:BX) is a manager of private capital and provider of financial advisory services.
To view more credit ratings from Morningstar, visit www.morningstar.com.
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