The Blackstone Group Inc. (NYSE:BX) has earned an average recommendation of “Buy” from the eleven research firms that are currently covering the company, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $102.60.
Several research analysts have recently issued reports on the company. Citigroup upped their price objective on The Blackstone Group from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, July 12th. upped their price objective on The Blackstone Group from $91.00 to $100.00 and gave the company a “neutral” rating in a research note on Monday, July 12th. Argus upped their price objective on The Blackstone Group from $100.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, July 23rd. Morgan Stanley upped their price objective on The Blackstone Group from $98.00 to $121.00 and gave the company an “overweight” rating in a research note on Tuesday, July 20th. Finally, Zacks Investment Research downgraded The Blackstone Group from a “buy” rating to a “hold” rating and set a $139.00 price objective for the company. in a research note on Tuesday.
In other news, CAO David Payne sold 3,693 shares of the firm’s stock in a transaction on Friday, September 10th. The stock was sold at an average price of $129.00, for a total transaction of $476,397.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Lifesciences Iii L.P. Clarus bought 150,000 shares of the firm’s stock in a transaction dated Tuesday, July 20th. The shares were acquired at an average cost of $16.00 per share, with a total value of $2,400,000.00. The disclosure for this purchase can be found here. Insiders sold a total of 508,477 shares of company stock valued at $40,210,412 over the last three months. 1.00% of the stock is currently owned by insiders.
BX stock traded up $4.60 during midday trading on Wednesday, reaching $135.20. The company had a trading volume of 181,574 shares, compared to its average volume of 3,329,406. The company has a market capitalization of $92.74 billion, a price-to-earnings ratio of 20.15 and a beta of 1.35. The stock has a 50 day moving average price of $115.08 and a 200-day moving average price of $95.55. The Blackstone Group has a 1-year low of $49.26 and a 1-year high of $132.33. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.77 and a quick ratio of 0.77.
The Blackstone Group (NYSE:BX) last issued its earnings results on Wednesday, July 21st. The asset manager reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.05. The firm had revenue of $2.12 billion during the quarter, compared to the consensus estimate of $1.92 billion. The Blackstone Group had a return on equity of 15.88% and a net margin of 26.67%. The business’s quarterly revenue was up 90.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.43 earnings per share. As a group, research analysts anticipate that The Blackstone Group will post 3.7 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 9th. Investors of record on Monday, August 2nd were issued a $0.8475 dividend. This represents a $3.39 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date of this dividend was Friday, July 30th. The Blackstone Group’s dividend payout ratio is currently 105.66%.
The Blackstone Group Company Profile
The Blackstone Group, Inc engages in the provision of investment and fund management services. It operates through the following segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit. The Private Equity segment consists of flagship corporate private equity funds, Blackstone Capital Partners funds, sector-focused corporate private equity funds, including energy-focused funds, Blackstone Energy Partners funds, and core private equity fund, Blackstone Core Equity Partners.
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