Jefferies Group Reaffirms “Buy” Rating for Blackstone Group L.P. (BX)
Blackstone Group L.P. (NYSE:BX)‘s stock had its “buy” rating restated by research analysts at Jefferies Group in a research note issued on Wednesday.
Other equities analysts have also issued reports about the company. Vetr lowered Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $29.89 target price for the company. in a research note on Thursday, July 21st. Credit Suisse Group AG reiterated a “buy” rating and issued a $35.00 target price on shares of Blackstone Group L.P. in a research note on Sunday, September 11th. Zacks Investment Research upgraded Blackstone Group L.P. from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a research note on Tuesday, October 4th. Bank of America Corp. reiterated a “hold” rating on shares of Blackstone Group L.P. in a research note on Friday, July 22nd. Finally, Deutsche Bank AG dropped their target price on Blackstone Group L.P. from $28.00 to $26.00 and set a “hold” rating for the company in a research note on Thursday, June 16th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $33.95.
Shares of Blackstone Group L.P. (NYSE:BX) traded down 0.58% during trading on Wednesday, hitting $24.16. The stock had a trading volume of 3,651,105 shares. Blackstone Group L.P. has a 12-month low of $22.31 and a 12-month high of $35.00. The stock has a 50-day moving average of $26.04 and a 200 day moving average of $26.44. The firm has a market cap of $15.17 billion, a price-to-earnings ratio of 50.97 and a beta of 1.57.
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Blackstone Group L.P. (NYSE:BX) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.05. Blackstone Group L.P. had a return on equity of 6.15% and a net margin of 15.50%. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the business earned $0.43 earnings per share. The business’s revenue was down 2.7% on a year-over-year basis. On average, analysts predict that Blackstone Group L.P. will post $2.06 earnings per share for the current fiscal year.
In other Blackstone Group L.P. news, insider Kathleen Skero sold 11,000 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $27.87, for a total transaction of $306,570.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 1.00% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hollencrest Securities LLC increased its position in Blackstone Group L.P. by 11.9% in the third quarter. Hollencrest Securities LLC now owns 50,572 shares of the company’s stock worth $1,291,000 after buying an additional 5,358 shares in the last quarter. Prospera Financial Services Inc increased its position in Blackstone Group L.P. by 489.3% in the third quarter. Prospera Financial Services Inc now owns 253,000 shares of the company’s stock worth $6,459,000 after buying an additional 210,067 shares in the last quarter. Baltimore Washington Financial Advisors Inc. increased its position in Blackstone Group L.P. by 1.8% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 248,755 shares of the company’s stock worth $6,351,000 after buying an additional 4,472 shares in the last quarter. North Star Investment Management Corp. increased its position in Blackstone Group L.P. by 3.0% in the third quarter. North Star Investment Management Corp. now owns 149,302 shares of the company’s stock worth $3,812,000 after buying an additional 4,390 shares in the last quarter. Finally, Carroll Financial Associates Inc. increased its position in Blackstone Group L.P. by 36.3% in the third quarter. Carroll Financial Associates Inc. now owns 8,494 shares of the company’s stock worth $216,000 after buying an additional 2,264 shares in the last quarter. 49.11% of the stock is currently owned by institutional investors.
Blackstone Group L.P. Company Profile
The Blackstone Group L.P. (Blackstone) is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies.
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