Blackstone Group L.P. (BX) Given Buy Rating at Jefferies Group
A number of other equities analysts have also commented on BX. Deutsche Bank AG reiterated a hold rating on shares of Blackstone Group L.P. in a research note on Sunday, July 10th. Vetr raised Blackstone Group L.P. from a buy rating to a strong-buy rating and set a $31.48 target price on the stock in a research report on Monday, July 25th. Keefe, Bruyette & Woods decreased their target price on Blackstone Group L.P. from $34.00 to $33.00 and set a market perform rating on the stock in a research report on Monday, July 11th. Zacks Investment Research raised Blackstone Group L.P. from a strong sell rating to a hold rating in a research report on Tuesday, July 26th. Finally, TheStreet downgraded Blackstone Group L.P. to a hold rating in a research report on Wednesday, June 15th. Seven equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $33.95.
Shares of Blackstone Group L.P. (NYSE:BX) opened at 23.80 on Wednesday. The firm has a market capitalization of $14.95 billion, a PE ratio of 50.21 and a beta of 1.57. The stock’s 50 day moving average price is $25.99 and its 200-day moving average price is $26.42. Blackstone Group L.P. has a 12 month low of $22.31 and a 12 month high of $35.00.
Blackstone Group L.P. (NYSE:BX) last posted its quarterly earnings data on Thursday, July 21st. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.11 billion. Blackstone Group L.P. had a return on equity of 6.15% and a net margin of 15.50%. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.43 earnings per share. On average, equities analysts anticipate 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 company’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $27.87, for a total transaction of $306,570.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.00% of the company’s stock.
Several hedge funds have recently modified their holdings of BX. Huntington National Bank boosted its stake in shares of Blackstone Group L.P. by 17.0% in the second quarter. Huntington National Bank now owns 4,687 shares of the company’s stock valued at $115,000 after buying an additional 682 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new stake in shares of Blackstone Group L.P. during the second quarter valued at approximately $125,000. TCI Wealth Advisors Inc. boosted its stake in shares of Blackstone Group L.P. by 1.0% in the second quarter. TCI Wealth Advisors Inc. now owns 5,074 shares of the company’s stock valued at $125,000 after buying an additional 51 shares during the last quarter. Adirondack Trust Co. boosted its stake in shares of Blackstone Group L.P. by 0.7% in the second quarter. Adirondack Trust Co. now owns 5,236 shares of the company’s stock valued at $128,000 after buying an additional 36 shares during the last quarter. Finally, Kistler Tiffany Companies LLC boosted its stake in shares of Blackstone Group L.P. by 91.8% in the second quarter. Kistler Tiffany Companies LLC now owns 5,359 shares of the company’s stock valued at $132,000 after buying an additional 2,565 shares during the last quarter. Institutional investors own 49.11% of the company’s stock.
About Blackstone Group L.P.
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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