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.
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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.
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