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 released on Monday. They currently have a $35.00 target price on the stock. Credit Suisse Group AG’s price target indicates a potential upside of 34.82% from the stock’s current price.
Several other equities analysts have also commented on BX. Deutsche Bank AG reissued a “hold” rating on shares of Blackstone Group L.P. in a report on Sunday, July 10th. Keefe, Bruyette & Woods decreased their target price on shares of Blackstone Group L.P. from $34.00 to $33.00 and set a “market perform” rating on the stock in a report on Monday, July 11th. Vetr upgraded shares of Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $31.48 price target on the stock in a research note on Monday, July 25th. Zacks Investment Research upgraded shares of Blackstone Group L.P. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Finally, TheStreet downgraded shares of Blackstone Group L.P. to a “hold” rating in a research note on Wednesday, June 15th. Seven research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Blackstone Group L.P. has an average rating of “Buy” and an average price target of $34.19.
Blackstone Group L.P. (NYSE:BX) opened at 25.96 on Monday. Blackstone Group L.P. has a 12 month low of $22.31 and a 12 month high of $35.24. The firm has a market capitalization of $16.30 billion, a price-to-earnings ratio of 54.77 and a beta of 1.58. The stock’s 50 day moving average is $27.12 and its 200-day moving average is $26.70.
Blackstone Group L.P. (NYSE:BX) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.05. Blackstone Group L.P. had a net margin of 15.50% and a return on equity of 6.15%. The business had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the firm earned $0.43 earnings per share. Blackstone Group L.P.’s revenue for the quarter was down 2.7% compared to the same quarter last year. Equities analysts anticipate that Blackstone Group L.P. will post $2.09 earnings per share for the current fiscal year.
In other news, insider Kathleen Skero sold 11,500 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $26.51, for a total value of $304,865.00. Following the completion of the sale, the insider now owns 42,967 shares in the company, valued at approximately $1,139,055.17. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.00% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Huntington National Bank increased its position 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 worth $115,000 after buying an additional 682 shares during the period. TCI Wealth Advisors Inc. increased its position 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 worth $125,000 after buying an additional 51 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in shares of Blackstone Group L.P. during the second quarter worth $125,000. Adirondack Trust Co. increased its position 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 worth $128,000 after buying an additional 36 shares during the period. Finally, Kistler Tiffany Companies LLC increased its position 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 worth $132,000 after buying an additional 2,565 shares during the period. Hedge funds and other institutional investors own 49.02% of the company’s stock.
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.
Receive News & Ratings for Blackstone Group L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone Group L.P. and related companies with Analyst Ratings Network's FREE daily email newsletter.