Blackstone Group (NYSE:BX) announced its quarterly earnings data on Thursday. The asset manager reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.02, Briefing.com reports. The business had revenue of $1.83 billion for the quarter, compared to the consensus estimate of $1.79 billion. Blackstone Group had a net margin of 22.12% and a return on equity of 22.64%. Blackstone Group’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $0.69 earnings per share.
BX traded up $0.04 during trading on Friday, reaching $35.34. 16,225 shares of the company’s stock were exchanged, compared to its average volume of 4,925,254. Blackstone Group has a fifty-two week low of $29.57 and a fifty-two week 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 capitalization of $24.08 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.11 and a beta of 1.32.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Blackstone Group from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Wednesday. Oppenheimer set a $44.00 price objective on shares of Blackstone Group and gave the stock a “buy” rating in a research note on Tuesday. ValuEngine downgraded shares of Blackstone Group from a “buy” rating to a “hold” rating in a research note on Thursday, October 4th. Argus lifted their price target on shares of Blackstone Group from $39.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, September 25th. Finally, Bank of America lifted their price target on shares of Blackstone Group from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, September 24th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $43.45.
In other Blackstone Group news, Vice Chairman J Tomilson Hill sold 674,257 shares of Blackstone Group stock in a transaction on Monday, August 20th. The stock was sold at an average price of $36.48, for a total transaction of $24,596,895.36. Following the completion of the transaction, the insider now directly owns 928,884 shares of the company’s stock, valued at $33,885,688.32. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider John G. Finley sold 5,000 shares of Blackstone Group stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $35.98, for a total value of $179,900.00. Following the transaction, the insider now directly owns 113,003 shares of the company’s stock, valued at $4,065,847.94. The disclosure for this sale can be found here. Insiders have sold 770,677 shares of company stock worth $28,061,444 in the last quarter. Corporate insiders own 1.00% of the company’s stock.
Blackstone Group Company Profile
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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