Several analysts have recently updated their ratings and price targets for Blackstone Group L.P. (NYSE: BX):

  • 9/21/2016 – Blackstone Group L.P. was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $29.22 price target on the stock.
  • 9/19/2016 – Blackstone Group L.P. had its “buy” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $35.00 price target on the stock.
  • 9/13/2016 – Blackstone Group L.P. was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $29.22 price target on the stock.
  • 9/11/2016 – Blackstone Group L.P. had its “buy” rating reaffirmed by analysts at Credit Suisse Group AG. They now have a $35.00 price target on the stock.
  • 8/31/2016 – Blackstone Group L.P. was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $29.72 price target on the stock.
  • 8/25/2016 – Blackstone Group L.P. was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $31.48 price target on the stock.
  • 8/18/2016 – Blackstone Group L.P. was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $31.48 price target on the stock.
  • 8/9/2016 – Blackstone Group L.P. had its price target raised by analysts at Barclays PLC from $29.00 to $33.00. They now have an “overweight” rating on the stock.
  • 8/2/2016 – Blackstone Group L.P. had its price target raised by analysts at Jefferies Group from $28.00 to $31.00. They now have a “buy” rating on the stock.
  • 7/26/2016 – Blackstone Group L.P. was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Blackstone’s second-quarter 2016 economic net income (ENI) beat the Zacks Consensus Estimate. Lower operating expenses and a rise in total investment income were partly offset by lower performance fees. The company remains well positioned to capitalize on the changing investment landscape by making long-term investments and augmenting its fund-raising ability. Moreover, the company continues to benefit from the changing investor preference for alternative assets and other risk management strategies. However, mounting operating expenses – which might further increase owing to requirement of more headcount for its well performing funds – remain a major concern. Also, increased dependence on management and advisory fees and stringent regulations can adversely affect the company’s financials in the near term.”
  • 7/25/2016 – Blackstone Group L.P. was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $31.48 price target on the stock.

Blackstone Group L.P. (NYSE:BX) traded down 1.14% during midday trading on Thursday, hitting $26.05. The stock had a trading volume of 4,356,206 shares. The stock’s 50 day moving average price is $27.13 and its 200-day moving average price is $26.69. The company has a market cap of $16.36 billion, a PE ratio of 54.96 and a beta of 1.58. Blackstone Group L.P. has a 52 week low of $22.31 and a 52 week high of $35.24.

Blackstone Group L.P. (NYSE:BX) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.05. The business earned $1.17 billion during the quarter, compared to analyst estimates of $1.11 billion. Blackstone Group L.P. had a net margin of 15.50% and a return on equity of 6.15%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. Equities research analysts predict that Blackstone Group L.P. will post $2.08 earnings per share for the current year.

In other news, insider Kathleen Skero sold 11,500 shares of the company’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $26.51, for a total transaction of $304,865.00. Following the completion of the transaction, the insider now owns 42,967 shares of the company’s stock, valued at $1,139,055.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.00% of the company’s stock.

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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