The Blackstone Group L.P. (NYSE:BX) – Jefferies Group boosted their Q1 2018 earnings estimates for shares of The Blackstone Group L.P. in a report released on Tuesday. Jefferies Group analyst D. Fannon now expects that the asset manager will earn $0.75 per share for the quarter, up from their prior estimate of $0.74. Jefferies Group also issued estimates for The Blackstone Group L.P.’s Q2 2018 earnings at $0.76 EPS, Q4 2018 earnings at $0.75 EPS, FY2018 earnings at $3.03 EPS and FY2019 earnings at $3.28 EPS.

Several other research firms also recently weighed in on BX. Morgan Stanley lifted their price target on shares of The Blackstone Group L.P. from $40.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, October 23rd. Bank of America Corporation boosted their target price on shares of The Blackstone Group L.P. from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. BidaskClub downgraded shares of The Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Oppenheimer Holdings, Inc. reissued a “buy” rating on shares of The Blackstone Group L.P. in a research report on Thursday, October 19th. Finally, Zacks Investment Research raised shares of The Blackstone Group L.P. from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $38.25.

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Shares of The Blackstone Group L.P. (NYSE BX) traded down $0.03 during midday trading on Thursday, reaching $31.85. 3,328,087 shares of the company were exchanged, compared to its average volume of 4,185,559. The Blackstone Group L.P. has a fifty-two week low of $25.57 and a fifty-two week high of $35.09. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.05 and a quick ratio of 1.05. The company has a market capitalization of $20,107.21, a P/E ratio of 11.47, a PEG ratio of 0.58 and a beta of 1.39.

The Blackstone Group L.P. (NYSE:BX) last issued its earnings results on Thursday, October 19th. The asset manager reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.14. The Blackstone Group L.P. had a net margin of 22.88% and a return on equity of 19.71%. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the business posted $0.57 earnings per share. The company’s quarterly revenue was up 21.4% on a year-over-year basis.

The business also recently declared a quarterly dividend, which was paid on Monday, November 6th. Stockholders of record on Monday, October 30th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 5.53%. The ex-dividend date was Friday, October 27th. The Blackstone Group L.P.’s payout ratio is 76.19%.

Several large investors have recently modified their holdings of the company. Janus Henderson Group PLC boosted its stake in shares of The Blackstone Group L.P. by 1,142.0% in the 2nd quarter. Janus Henderson Group PLC now owns 8,062,439 shares of the asset manager’s stock valued at $268,879,000 after purchasing an additional 7,413,287 shares in the last quarter. Capital World Investors boosted its stake in shares of The Blackstone Group L.P. by 101.0% in the 2nd quarter. Capital World Investors now owns 3,988,250 shares of the asset manager’s stock valued at $133,008,000 after purchasing an additional 2,004,000 shares in the last quarter. Global Thematic Partners LLC purchased a new stake in shares of The Blackstone Group L.P. in the 2nd quarter valued at $57,533,000. FMR LLC boosted its stake in shares of The Blackstone Group L.P. by 3.5% in the 2nd quarter. FMR LLC now owns 40,769,760 shares of the asset manager’s stock valued at $1,359,671,000 after purchasing an additional 1,387,363 shares in the last quarter. Finally, Fred Alger Management Inc. boosted its stake in shares of The Blackstone Group L.P. by 23.8% in the 2nd quarter. Fred Alger Management Inc. now owns 6,289,738 shares of the asset manager’s stock valued at $209,763,000 after purchasing an additional 1,211,146 shares in the last quarter. 46.58% of the stock is currently owned by hedge funds and other institutional investors.

About The Blackstone Group L.P.

The Blackstone Group L.P. is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit.

Earnings History and Estimates for The Blackstone Group L.P. (NYSE:BX)

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