Blackstone Group L.P. (BX) Stock Rating Reaffirmed by Credit Suisse Group AG
Blackstone Group L.P. (NYSE:BX)‘s stock had its “buy” rating reissued by research analysts at Credit Suisse Group AG in a report issued on Monday. They currently have a $35.00 price target on the stock. Credit Suisse Group AG’s price objective points to a potential upside of 34.82% from the stock’s previous close.
A number of other research analysts have also recently weighed in on the company. Vetr raised Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $31.48 price objective on the stock in a research report on Thursday, August 25th. TheStreet cut Blackstone Group L.P. to a “hold” rating in a research report on Wednesday, June 15th. Bank of America Corp. reaffirmed a “hold” rating on shares of Blackstone Group L.P. in a research report on Friday, July 22nd. Barclays PLC lowered their price objective on Blackstone Group L.P. from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Thursday, July 7th. Finally, Jefferies Group lifted their price objective on Blackstone Group L.P. from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Seven equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $34.19.
Blackstone Group L.P. (NYSE:BX) opened at 25.96 on Monday. The company has a market capitalization of $16.30 billion, a PE ratio of 54.77 and a beta of 1.58. Blackstone Group L.P. has a 12 month low of $22.31 and a 12 month high of $35.24. The firm’s 50-day moving average is $27.12 and its 200-day moving average is $26.70.
Blackstone Group L.P. (NYSE:BX) last announced its earnings results on Thursday, July 21st. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.05. The business had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Blackstone Group L.P. had a return on equity of 6.15% and a net margin of 15.50%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.43 earnings per share. Equities analysts anticipate that Blackstone Group L.P. will post $2.09 EPS for the current fiscal year.
In other news, insider Kathleen Skero sold 11,000 shares of the business’s 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 accessible through this link. Insiders own 1.00% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Evercore Wealth Management LLC increased its position in shares of Blackstone Group L.P. by 0.9% in the second quarter. Evercore Wealth Management LLC now owns 1,521,456 shares of the company’s stock valued at $37,336,000 after buying an additional 13,167 shares during the period. Macquarie Group Ltd. boosted its stake in shares of Blackstone Group L.P. by 5.5% in the second quarter. Macquarie Group Ltd. now owns 242,250 shares of the company’s stock valued at $5,945,000 after buying an additional 12,600 shares in the last quarter. Nomura Holdings Inc. boosted its stake in shares of Blackstone Group L.P. by 38.1% in the second quarter. Nomura Holdings Inc. now owns 135,024 shares of the company’s stock valued at $3,319,000 after buying an additional 37,248 shares in the last quarter. Beach Investment Counsel Inc. PA boosted its stake in shares of Blackstone Group L.P. by 0.8% in the second quarter. Beach Investment Counsel Inc. PA now owns 52,150 shares of the company’s stock valued at $1,280,000 after buying an additional 400 shares in the last quarter. Finally, CAPROCK Group Inc. boosted its stake in shares of Blackstone Group L.P. by 10.8% in the second quarter. CAPROCK Group Inc. now owns 20,600 shares of the company’s stock valued at $506,000 after buying an additional 2,000 shares in the last quarter. 49.02% 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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