The Blackstone Group L.P. Declares Dividend of $0.44 (BX)
The Blackstone Group L.P. (NYSE:BX) declared a dividend on Friday, October 20th, Fidelity reports. Stockholders of record on Monday, October 30th will be given a dividend of 0.44 per share by the asset manager on Monday, November 6th. The ex-dividend date of this dividend is Friday, October 27th.
The Blackstone Group L.P. has raised its dividend payment by an average of 22.1% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. The Blackstone Group L.P. has a payout ratio of 66.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect The Blackstone Group L.P. to earn $3.00 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 58.7%.
The Blackstone Group L.P. (NYSE BX) traded up 1.32% on Friday, hitting $34.46. The stock had a trading volume of 4,656,683 shares. The Blackstone Group L.P. has a 12 month low of $23.33 and a 12 month high of $35.09. The company’s 50 day moving average is $32.87 and its 200-day moving average is $32.29. The stock has a market cap of $22.36 billion, a P/E ratio of 15.49 and a beta of 1.33.
The Blackstone Group L.P. (NYSE:BX) last posted its earnings results on Thursday, October 19th. The asset manager reported $0.69 EPS for the quarter, topping the consensus estimate of $0.55 by $0.14. The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.39 billion. The Blackstone Group L.P. had a return on equity of 19.90% and a net margin of 22.88%. The Blackstone Group L.P.’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period last year, the company earned $0.57 earnings per share. Analysts forecast that The Blackstone Group L.P. will post $2.72 EPS for the current year.
BX has been the topic of several research analyst reports. Jefferies Group LLC restated a “buy” rating and issued a $38.00 target price on shares of The Blackstone Group L.P. in a research report on Wednesday, June 28th. BidaskClub upgraded The Blackstone Group L.P. from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. Vetr downgraded The Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $37.57 target price on the stock. in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $37.00 target price on shares of The Blackstone Group L.P. in a research report on Friday, July 14th. Finally, Oppenheimer Holdings, Inc. restated a “buy” rating on shares of The Blackstone Group L.P. in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $38.32.
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About The Blackstone Group L.P.
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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