Blackstone Group LP (BX) Given Consensus Recommendation of “Buy” by Analysts

Shares of Blackstone Group LP (NYSE:BX) have earned an average rating of “Buy” from the twelve analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $38.28.

A number of research analysts have recently issued reports on BX shares. Credit Suisse Group reduced their price target on shares of Blackstone Group from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 30th. Vetr downgraded shares of Blackstone Group from a “strong-buy” rating to a “buy” rating and set a $35.50 price target on the stock. in a research report on Monday, November 20th. Zacks Investment Research upgraded shares of Blackstone Group from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. Morgan Stanley raised their price target on shares of Blackstone Group from $40.00 to $41.00 and gave the stock an “overweight” rating in a research report on Monday, October 23rd. Finally, Bank of America raised their price target on shares of Blackstone Group from $38.00 to $40.00 and gave the stock a “buy” rating in a research report on Friday, October 20th.

Shares of Blackstone Group (NYSE BX) opened at $31.99 on Thursday. The firm has a market cap of $38,320.00, a price-to-earnings ratio of 11.44, a P/E/G ratio of 0.57 and a beta of 1.37. Blackstone Group has a fifty-two week low of $26.65 and a fifty-two week high of $35.09. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.95.

Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, October 19th. The asset manager reported $0.69 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.14. Blackstone Group had a net margin of 22.88% and a return on equity of 19.71%. The firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.39 billion. During the same period in the prior year, the firm posted $0.57 EPS. The firm’s revenue was up 21.4% compared to the same quarter last year. equities analysts anticipate that Blackstone Group will post 2.78 earnings per share for the current year.

In related news, insider John G. Finley sold 800 shares of Blackstone Group stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $32.00, for a total value of $25,600.00. Following the sale, the insider now directly owns 87,852 shares in the company, valued at approximately $2,811,264. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider John G. Finley sold 20,000 shares of Blackstone Group stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $31.64, for a total transaction of $632,800.00. Following the completion of the sale, the insider now owns 87,852 shares in the company, valued at $2,779,637.28. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

A number of large investors have recently modified their holdings of BX. Honeywell International Inc. increased its stake in Blackstone Group by 37.0% during the 3rd quarter. Honeywell International Inc. now owns 1,019,400 shares of the asset manager’s stock valued at $34,017,000 after buying an additional 275,400 shares during the period. Baldwin Investment Management LLC increased its stake in Blackstone Group by 1.8% during the 2nd quarter. Baldwin Investment Management LLC now owns 11,450 shares of the asset manager’s stock valued at $382,000 after buying an additional 200 shares during the period. Artemis Investment Management LLP increased its stake in Blackstone Group by 91.9% during the 2nd quarter. Artemis Investment Management LLP now owns 2,147,762 shares of the asset manager’s stock valued at $71,618,000 after buying an additional 1,028,755 shares during the period. Banque Pictet & Cie SA acquired a new position in Blackstone Group during the 2nd quarter valued at about $1,668,000. Finally, Sandy Spring Bank increased its stake in Blackstone Group by 93.4% during the 3rd quarter. Sandy Spring Bank now owns 14,600 shares of the asset manager’s stock valued at $487,000 after buying an additional 7,050 shares during the period. Hedge funds and other institutional investors own 46.40% of the company’s stock.

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About 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.

Analyst Recommendations for Blackstone Group (NYSE:BX)

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