Jefferies Financial Group Equities Analysts Increase Earnings Estimates for The Blackstone Group Inc. (NYSE:BX)


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The Blackstone Group Inc. (NYSE:BX) – Equities research analysts at Jefferies Financial Group upped their FY2022 earnings per share estimates for The Blackstone Group in a report released on Sunday, January 10th. Jefferies Financial Group analyst G. O’hara now expects that the asset manager will post earnings of $3.43 per share for the year, up from their prior estimate of $3.36.

The Blackstone Group (NYSE:BX) last posted its earnings results on Wednesday, October 28th. The asset manager reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.06. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $1.42 billion. The business’s quarterly revenue was up 74.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.58 EPS.

Several other equities analysts also recently commented on the company. Zacks Investment Research raised The Blackstone Group from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research report on Tuesday. Morgan Stanley lowered their price objective on The Blackstone Group from $69.00 to $68.00 and set an “overweight” rating on the stock in a research report on Thursday, October 29th. Oppenheimer raised shares of The Blackstone Group from a “market perform” rating to an “outperform” rating and set a $58.00 target price for the company in a research report on Thursday, October 29th. BidaskClub lowered shares of The Blackstone Group from a “buy” rating to a “hold” rating in a research report on Wednesday, January 6th. Finally, BMO Capital Markets lifted their price objective on shares of The Blackstone Group from $50.00 to $51.00 and gave the stock a “market perform” rating in a research note on Thursday, October 29th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $61.21.

The Blackstone Group stock opened at $63.97 on Wednesday. The company’s 50-day moving average price is $63.20 and its two-hundred day moving average price is $56.37. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.42. The stock has a market cap of $43.12 billion, a P/E ratio of 59.79 and a beta of 1.33. The Blackstone Group has a twelve month low of $33.00 and a twelve month high of $65.75.

Several large investors have recently made changes to their positions in BX. Global Retirement Partners LLC boosted its holdings in shares of The Blackstone Group by 8.0% during the 4th quarter. Global Retirement Partners LLC now owns 72,667 shares of the asset manager’s stock valued at $4,710,000 after acquiring an additional 5,401 shares in the last quarter. Perkins Coie Trust Co boosted its stake in shares of The Blackstone Group by 2,190.1% during the fourth quarter. Perkins Coie Trust Co now owns 5,107 shares of the asset manager’s stock valued at $331,000 after purchasing an additional 4,884 shares in the last quarter. Cottage Street Advisors LLC grew its holdings in shares of The Blackstone Group by 501.9% during the fourth quarter. Cottage Street Advisors LLC now owns 72,232 shares of the asset manager’s stock worth $4,681,000 after purchasing an additional 60,232 shares during the last quarter. North Star Investment Management Corp. grew its holdings in shares of The Blackstone Group by 0.3% during the fourth quarter. North Star Investment Management Corp. now owns 203,763 shares of the asset manager’s stock worth $13,206,000 after purchasing an additional 659 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new position in shares of The Blackstone Group in the third quarter valued at approximately $1,321,000. Institutional investors own 59.77% of the company’s stock.

In related news, major shareholder Blackstone Bdc Holdings Llc purchased 997,940 shares of the firm’s stock in a transaction that occurred on Thursday, January 7th. The shares were bought at an average cost of $25.00 per share, with a total value of $24,948,500.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Holdings L.P. Blackstone III acquired 42,425 shares of the stock in a transaction that occurred on Monday, January 4th. The shares were bought at an average price of $34.93 per share, with a total value of $1,481,905.25. The disclosure for this purchase can be found here. Insiders purchased 1,042,365 shares of company stock worth $26,480,405 over the last three months. 1.00% of the stock is currently owned by insiders.

About The 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, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.

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