Zacks Investment Research upgraded shares of The Blackstone Group L.P. (NYSE:BX) from a sell rating to a hold rating in a research report released on Monday morning.

According to Zacks, “Blackstone’s shares have underperformed the industry in the last six months. Yet, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters. The company remains well positioned to capitalize on the changing investment landscape by making long-term investments and augmenting its fund-raising ability. Also, its top line is expected to continue growing in the upcoming quarters on the back of better performance of its funds. However, its higher dependence on management and advisory fees for revenues remains a concern. Also, sustainability of its quarterly distribution is less, making us apprehensive.”

Other equities analysts also recently issued reports about the stock. Jefferies Group LLC reaffirmed a buy rating and issued a $38.00 price target on shares of The Blackstone Group L.P. in a research note on Wednesday, June 28th. BidaskClub downgraded shares of The Blackstone Group L.P. from a buy rating to a hold rating in a research note on Thursday, August 3rd. Oppenheimer Holdings, Inc. upped their price target on shares of The Blackstone Group L.P. from $34.00 to $38.00 and gave the stock an outperform rating in a research note on Friday, July 14th. Vetr downgraded shares of The Blackstone Group L.P. from a strong-buy rating to a buy rating and set a $37.57 price target on the stock. in a research note on Wednesday, July 12th. Finally, Deutsche Bank AG upped their price target on shares of The Blackstone Group L.P. from $32.00 to $33.00 and gave the stock a hold rating in a research note on Friday, July 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company. The Blackstone Group L.P. presently has an average rating of Buy and a consensus price target of $37.72.

Shares of The Blackstone Group L.P. (BX) opened at 33.62 on Monday. The Blackstone Group L.P. has a 12-month low of $23.33 and a 12-month high of $35.09. The firm has a market cap of $21.82 billion, a PE ratio of 15.12 and a beta of 1.33. The stock’s 50 day moving average price is $32.38 and its 200 day moving average price is $32.01.

The Blackstone Group L.P. (NYSE:BX) last announced its earnings results on Thursday, July 20th. The asset manager reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.62 by ($0.03). The Blackstone Group L.P. had a net margin of 22.88% and a return on equity of 18.97%. The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the firm earned $0.44 earnings per share. On average, equities research analysts predict that The Blackstone Group L.P. will post $2.81 EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of the stock. FMR LLC boosted its holdings in The Blackstone Group L.P. by 3.5% in the second quarter. FMR LLC now owns 40,769,760 shares of the asset manager’s stock worth $1,359,671,000 after purchasing an additional 1,387,363 shares in the last quarter. Morgan Stanley boosted its holdings in The Blackstone Group L.P. by 6.0% in the first quarter. Morgan Stanley now owns 32,790,651 shares of the asset manager’s stock worth $973,884,000 after purchasing an additional 1,859,744 shares in the last quarter. Janus Capital Management LLC boosted its holdings in The Blackstone Group L.P. by 15.8% in the first quarter. Janus Capital Management LLC now owns 18,754,093 shares of the asset manager’s stock worth $556,990,000 after purchasing an additional 2,565,390 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in The Blackstone Group L.P. by 6.9% in the first quarter. Massachusetts Financial Services Co. MA now owns 12,972,178 shares of the asset manager’s stock worth $385,275,000 after purchasing an additional 841,476 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in The Blackstone Group L.P. by 107.7% in the second quarter. Bank of Montreal Can now owns 11,475,121 shares of the asset manager’s stock worth $382,695,000 after purchasing an additional 5,951,587 shares in the last quarter. Hedge funds and other institutional investors own 46.58% of the company’s stock.

The Blackstone Group L.P. Company Profile

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.

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Analyst Recommendations for The Blackstone Group L.P. (NYSE:BX)

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