Blackstone Group LP (NYSE:BX) – Analysts at Jefferies Financial Group decreased their Q1 2019 EPS estimates for Blackstone Group in a research note issued to investors on Thursday, January 10th. Jefferies Financial Group analyst D. Fannon now expects that the asset manager will post earnings of $0.76 per share for the quarter, down from their previous forecast of $0.77. Jefferies Financial Group also issued estimates for Blackstone Group’s Q2 2019 earnings at $0.78 EPS, Q3 2019 earnings at $0.79 EPS and FY2019 earnings at $3.13 EPS.
A number of other equities analysts have also commented on BX. Zacks Investment Research raised shares of Blackstone Group from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, October 17th. Morgan Stanley decreased their target price on shares of Blackstone Group from $42.00 to $36.00 and set an “overweight” rating for the company in a research note on Friday, January 4th. Bank of America lifted their target price on shares of Blackstone Group from $40.00 to $46.00 and gave the company a “buy” rating in a research note on Monday, September 24th. JPMorgan Chase & Co. set a $45.00 target price on shares of Blackstone Group and gave the company a “buy” rating in a research note on Thursday, September 20th. Finally, Citigroup lifted their target price on shares of Blackstone Group from $43.00 to $47.50 and gave the company a “buy” rating in a research note on Monday, September 24th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $42.54.
Blackstone Group stock opened at $31.73 on Friday. Blackstone Group has a 52 week low of $26.88 and a 52 week high of $40.60. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $21.02 billion, a P/E ratio of 11.29, a PEG ratio of 1.50 and a beta of 1.33.
Blackstone Group (NYSE:BX) last posted its quarterly earnings results on Thursday, October 18th. The asset manager reported $0.76 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.74 by $0.02. The firm had revenue of $1.83 billion for the quarter, compared to analyst estimates of $1.79 billion. Blackstone Group had a net margin of 22.34% and a return on equity of 22.67%. The firm’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.69 earnings per share.
Several hedge funds have recently added to or reduced their stakes in BX. Bank of Montreal Can lifted its stake in shares of Blackstone Group by 60.7% in the 3rd quarter. Bank of Montreal Can now owns 8,904,588 shares of the asset manager’s stock valued at $339,088,000 after purchasing an additional 3,362,373 shares during the last quarter. Capital International Investors acquired a new stake in shares of Blackstone Group in the 3rd quarter valued at $82,710,000. ING Groep NV lifted its stake in shares of Blackstone Group by 234.9% in the 3rd quarter. ING Groep NV now owns 2,040,300 shares of the asset manager’s stock valued at $77,695,000 after purchasing an additional 1,431,100 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Blackstone Group by 94.5% in the 3rd quarter. Russell Investments Group Ltd. now owns 2,545,117 shares of the asset manager’s stock valued at $96,924,000 after purchasing an additional 1,236,519 shares during the last quarter. Finally, Credit Suisse AG lifted its stake in shares of Blackstone Group by 28.4% in the 3rd quarter. Credit Suisse AG now owns 4,035,853 shares of the asset manager’s stock valued at $153,685,000 after purchasing an additional 892,933 shares during the last quarter. 49.61% of the stock is owned by institutional investors and hedge funds.
In other Blackstone Group news, major shareholder Blackstone Bgsl Holdings Llc acquired 192,000 shares of Blackstone Group stock in a transaction that occurred on Tuesday, November 6th. The stock was acquired at an average price of $25.00 per share, with a total value of $4,800,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 1.00% of the stock is currently owned by insiders.
About Blackstone Group
The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets 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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