Brokers Issue Forecasts for The Blackstone Group L.P.’s Q3 2017 Earnings (BX)

The Blackstone Group L.P. (NYSE:BX) – Equities researchers at Oppenheimer Holdings lowered their Q3 2017 earnings per share (EPS) estimates for shares of The Blackstone Group L.P. in a research note issued on Monday. Oppenheimer Holdings analyst C. Kotowski now anticipates that the asset manager will post earnings per share of $0.60 for the quarter, down from their previous forecast of $0.62. Oppenheimer Holdings currently has a “Buy” rating on the stock. Oppenheimer Holdings also issued estimates for The Blackstone Group L.P.’s Q4 2017 earnings at $0.67 EPS, FY2017 earnings at $2.68 EPS and FY2018 earnings at $3.17 EPS.

Other analysts also recently issued reports about the stock. Jefferies Group LLC reaffirmed 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 shares of The Blackstone Group L.P. from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $37.00 price target on shares of The Blackstone Group L.P. in a research note on Friday, July 14th. Vetr cut 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, Zacks Investment Research cut shares of The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $37.72.

TRADEMARK VIOLATION NOTICE: “Brokers Issue Forecasts for The Blackstone Group L.P.’s Q3 2017 Earnings (BX)” was published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this report on another domain, it was copied illegally and republished in violation of U.S. and international copyright law. The correct version of this report can be accessed at https://www.dispatchtribunal.com/2017/10/29/brokers-issue-forecasts-for-the-blackstone-group-l-p-s-q3-2017-earnings-bx.html.

The Blackstone Group L.P. (BX) opened at 34.01 on Thursday. The Blackstone Group L.P. has a 1-year low of $23.33 and a 1-year high of $35.09. The firm has a 50 day moving average of $32.82 and a 200-day moving average of $32.25. The company has a market capitalization of $22.07 billion, a price-to-earnings ratio of 15.29 and a beta of 1.33.

The Blackstone Group L.P. (NYSE:BX) last released its quarterly earnings data on Thursday, October 19th. The asset manager reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.15. 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 $1.69 billion for the quarter, compared to analyst estimates of $1.39 billion. During the same period last year, the firm earned $0.57 earnings per share. The business’s quarterly revenue was up 21.4% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently bought and sold shares of BX. Waldron LP bought a new position in The Blackstone Group L.P. during the 1st quarter valued at about $661,000. Teachers Advisors LLC lifted its stake in The Blackstone Group L.P. by 306.4% during the 1st quarter. Teachers Advisors LLC now owns 757,973 shares of the asset manager’s stock valued at $22,512,000 after acquiring an additional 571,452 shares during the period. TIAA CREF Investment Management LLC lifted its stake in The Blackstone Group L.P. by 24.5% during the 1st quarter. TIAA CREF Investment Management LLC now owns 450,093 shares of the asset manager’s stock valued at $13,368,000 after acquiring an additional 88,550 shares during the period. Kernodle & Katon Asset Management Group LLC bought a new position in The Blackstone Group L.P. during the 1st quarter valued at about $174,000. Finally, Brown Advisory Securities LLC bought a new position in The Blackstone Group L.P. during the 1st quarter valued at about $270,000. Institutional investors and hedge funds own 46.49% of the company’s stock.

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.

Earnings History and Estimates for The Blackstone Group L.P. (NYSE:BX)

Receive News & Ratings for The Blackstone Group L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for The Blackstone Group L.P. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply