Blackstone Group LP (NYSE:BX) – Investment analysts at Jefferies Financial Group lowered their Q2 2020 earnings per share (EPS) estimates for shares of Blackstone Group in a research report issued to clients and investors on Wednesday, July 8th. Jefferies Financial Group analyst G. O’hara now anticipates that the asset manager will post earnings per share of $0.45 for the quarter, down from their previous estimate of $0.49. Jefferies Financial Group also issued estimates for Blackstone Group’s FY2020 earnings at $2.16 EPS.

A number of other analysts have also commented on the company. Morgan Stanley lifted their target price on Blackstone Group from $62.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Bank of America reduced their target price on Blackstone Group from $62.00 to $58.00 and set a “neutral” rating for the company in a report on Friday. William Blair reaffirmed a “buy” rating on shares of Blackstone Group in a report on Friday, April 24th. Wells Fargo & Co lifted their price objective on Blackstone Group from $58.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Finally, Citigroup lowered Blackstone Group from a “buy” rating to a “neutral” rating in a report on Monday, June 8th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $60.77.

Blackstone Group stock opened at $53.73 on Friday. The firm has a market cap of $35.79 billion, a price-to-earnings ratio of 73.60, a PEG ratio of 13.58 and a beta of 1.44. The stock has a fifty day simple moving average of $56.42 and a two-hundred day simple moving average of $54.27. Blackstone Group has a 12 month low of $33.00 and a 12 month high of $64.97. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.97.

Blackstone Group (NYSE:BX) last posted its earnings results on Thursday, April 23rd. The asset manager reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.50 by ($0.04). The business had revenue of $1.14 billion during the quarter, compared to the consensus estimate of $1.31 billion. Blackstone Group had a return on equity of 14.62% and a net margin of 27.93%. During the same period in the previous year, the business posted $0.71 EPS.

In related news, insider John G. Finley sold 50,000 shares of Blackstone Group stock in a transaction on Monday, May 18th. The stock was sold at an average price of $53.11, for a total transaction of $2,655,500.00. Following the transaction, the insider now directly owns 218,663 shares in the company, valued at $11,613,191.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.00% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bainco International Investors purchased a new position in Blackstone Group during the first quarter valued at $27,000. MBM Wealth Consultants LLC purchased a new position in shares of Blackstone Group in the first quarter valued at about $30,000. OmniStar Financial Group Inc. purchased a new position in shares of Blackstone Group in the first quarter valued at about $30,000. First Bank & Trust purchased a new position in shares of Blackstone Group in the first quarter valued at about $30,000. Finally, Capital Advisory Group Advisory Services LLC purchased a new position in shares of Blackstone Group in the first quarter valued at about $31,000. Institutional investors own 56.73% of the company’s stock.

About Blackstone Group

The Blackstone Group Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services. The real estate segment specializes in opportunistic, core+ investments as well as debt investment opportunities collateralized by commercial real estate, and stabilized income-oriented commercial real estate across North America, Europe and Asia.

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