Blackstone Group LP (NYSE:BX) – Stock analysts at Oppenheimer issued their FY2020 earnings per share (EPS) estimates for shares of Blackstone Group in a report issued on Monday, October 15th. Oppenheimer analyst L. Rudary forecasts that the asset manager will post earnings per share of $3.66 for the year. Oppenheimer has a “Buy” rating and a $44.00 price target on the stock.

Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, October 18th. The asset manager reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.03. Blackstone Group had a return on equity of 22.64% and a net margin of 22.12%. The company had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same quarter last year, the company earned $0.69 EPS. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis.

A number of other research analysts have also weighed in on BX. Morgan Stanley reduced their price objective on Blackstone Group from $41.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, July 12th. Jefferies Financial Group reaffirmed a “buy” rating and set a $42.00 price objective on shares of Blackstone Group in a research report on Friday, July 20th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $40.00 price objective on shares of Blackstone Group in a research report on Friday, July 20th. Citigroup increased their target price on Blackstone Group from $41.50 to $43.00 and gave the company a “buy” rating in a research note on Friday, July 20th. Finally, Credit Suisse Group cut their target price on Blackstone Group from $48.00 to $47.00 and set an “outperform” rating on the stock in a research note on Friday, July 20th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Blackstone Group currently has an average rating of “Buy” and a consensus target price of $43.45.

BX stock opened at $35.30 on Thursday. Blackstone Group has a twelve month low of $29.57 and a twelve month high of $40.60. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $25.41 billion, a P/E ratio of 12.56, a P/E/G ratio of 1.17 and a beta of 1.32.

Several hedge funds have recently added to or reduced their stakes in BX. BlackRock Inc. purchased a new position in Blackstone Group during the first quarter valued at $5,369,000. Clarus Wealth Advisors lifted its position in Blackstone Group by 180.1% during the third quarter. Clarus Wealth Advisors now owns 8,534 shares of the asset manager’s stock valued at $325,000 after purchasing an additional 5,487 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Blackstone Group by 2.8% during the second quarter. PNC Financial Services Group Inc. now owns 708,399 shares of the asset manager’s stock valued at $22,790,000 after purchasing an additional 19,278 shares in the last quarter. Independent Advisor Alliance lifted its position in Blackstone Group by 7.8% during the second quarter. Independent Advisor Alliance now owns 59,405 shares of the asset manager’s stock valued at $1,911,000 after purchasing an additional 4,304 shares in the last quarter. Finally, OppenheimerFunds Inc. lifted its position in Blackstone Group by 1.4% during the second quarter. OppenheimerFunds Inc. now owns 1,098,800 shares of the asset manager’s stock valued at $35,348,000 after purchasing an additional 15,000 shares in the last quarter. Hedge funds and other institutional investors own 48.75% of the company’s stock.

In other news, Vice Chairman J Tomilson Hill sold 674,257 shares of the firm’s stock in a transaction on Monday, August 20th. The stock was sold at an average price of $36.48, for a total value of $24,596,895.36. Following the transaction, the insider now directly owns 928,884 shares in the company, valued at approximately $33,885,688.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John G. Finley sold 5,000 shares of the firm’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $35.98, for a total value of $179,900.00. Following the completion of the transaction, the insider now owns 113,003 shares in the company, valued at $4,065,847.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 770,677 shares of company stock worth $28,061,444. Company insiders own 1.00% of the company’s stock.

About Blackstone Group

The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.

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Earnings History and Estimates for Blackstone Group (NYSE:BX)

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