The Blackstone Group L.P. (BX) Given Average Recommendation of “Buy” by Brokerages
The Blackstone Group L.P. (NYSE:BX) has earned a consensus rating of “Buy” from the thirteen analysts that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $38.28.
Several equities analysts recently commented on BX shares. Vetr downgraded The Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 target price for the company. in a research report on Monday, November 20th. Zacks Investment Research upgraded The Blackstone Group from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. BidaskClub downgraded The Blackstone Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Oppenheimer Holdings, Inc. restated a “buy” rating on shares of The Blackstone Group in a research report on Thursday, October 19th. Finally, Bank of America Corporation raised their target price on The Blackstone Group from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, October 20th.
Institutional investors and hedge funds have recently modified their holdings of the business. Jacobi Capital Management LLC bought a new position in The Blackstone Group in the 2nd quarter valued at $116,000. Wealthcare Advisory Partners LLC bought a new position in The Blackstone Group in the 3rd quarter valued at $131,000. Omnia Family Wealth LLC raised its position in The Blackstone Group by 0.5% in the 2nd quarter. Omnia Family Wealth LLC now owns 4,020 shares of the asset manager’s stock valued at $134,000 after purchasing an additional 20 shares during the last quarter. Pathstone Family Office LLC bought a new position in The Blackstone Group in the 2nd quarter valued at $167,000. Finally, Peddock Capital Advisors LLC bought a new position in The Blackstone Group in the 2nd quarter valued at $187,000. Hedge funds and other institutional investors own 46.58% of the company’s stock.
Shares of The Blackstone Group (NYSE BX) opened at $31.67 on Friday. The Blackstone Group has a fifty-two week low of $25.57 and a fifty-two week high of $35.09. The firm has a market capitalization of $19,974.78, a P/E ratio of 11.39, a PEG ratio of 0.57 and a beta of 1.39. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.95.
The Blackstone Group (NYSE:BX) last announced its quarterly earnings data on Thursday, October 19th. The asset manager reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.14. The Blackstone Group had a return on equity of 19.71% and a net margin of 22.88%. The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same quarter last year, the firm earned $0.57 EPS. The Blackstone Group’s revenue for the quarter was up 21.4% compared to the same quarter last year. research analysts expect that The Blackstone Group will post 2.78 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 6th. Shareholders of record on Monday, October 30th were given a $0.44 dividend. The ex-dividend date was Friday, October 27th. This represents a $1.76 annualized dividend and a yield of 5.56%. The Blackstone Group’s payout ratio is 76.19%.
About The Blackstone Group
The Blackstone Group L.P. is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, non-investment grade credit, secondary private equity funds of funds and multi-asset class strategies. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit.
Receive News & Ratings for The Blackstone Group L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Blackstone Group L.P. and related companies with Analyst Ratings Network's FREE daily email newsletter.