Blackstone Group (NYSE:BX) was downgraded by investment analysts at Vetr from a “strong-buy” rating to a “buy” rating in a research report issued on Monday, November 20th. They presently have a $35.50 target price on the asset manager’s stock. Vetr‘s price objective would suggest a potential upside of 10.45% from the stock’s previous close.
Other analysts have also recently issued reports about the company. BidaskClub cut Blackstone Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. Bank of America upped their target price on Blackstone Group from $38.00 to $40.00 and gave the company a “buy” rating in a report on Friday, October 20th. Oppenheimer restated a “buy” rating on shares of Blackstone Group in a report on Thursday, October 19th. Zacks Investment Research upgraded Blackstone Group from a “sell” rating to a “hold” rating in a report on Monday, October 9th. Finally, Credit Suisse Group lowered their price target on Blackstone Group from $46.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, August 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. Blackstone Group has a consensus rating of “Buy” and an average price target of $38.25.
Shares of Blackstone Group (NYSE BX) traded up $0.03 during trading hours on Monday, reaching $32.14. The company’s stock had a trading volume of 3,249,550 shares, compared to its average volume of 4,163,037. Blackstone Group has a one year low of $26.20 and a one year high of $35.09. The firm has a market capitalization of $38,930.00, a P/E ratio of 11.36, a PEG ratio of 0.57 and a beta of 1.37. The company has a debt-to-equity ratio of 0.95, a current ratio of 1.05 and a quick ratio of 1.05.
Blackstone Group (NYSE:BX) last announced its earnings results on Thursday, October 19th. The asset manager reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.14. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.39 billion. Blackstone Group had a return on equity of 19.71% and a net margin of 22.88%. The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 EPS. equities research analysts anticipate that Blackstone Group will post 2.78 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of BX. Honeywell International Inc. grew 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 worth $34,017,000 after buying an additional 275,400 shares during the last quarter. Baldwin Investment Management LLC grew its stake in shares of Blackstone Group by 1.8% in the 2nd quarter. Baldwin Investment Management LLC now owns 11,450 shares of the asset manager’s stock valued at $382,000 after purchasing an additional 200 shares during the last quarter. Artemis Investment Management LLP grew its stake in shares of Blackstone Group by 91.9% in 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 purchasing an additional 1,028,755 shares during the last quarter. Banque Pictet & Cie SA purchased a new position in shares of Blackstone Group in the 2nd quarter valued at approximately $1,668,000. Finally, Sandy Spring Bank grew its stake in shares of Blackstone Group by 93.4% in the 3rd quarter. Sandy Spring Bank now owns 14,600 shares of the asset manager’s stock valued at $487,000 after purchasing an additional 7,050 shares during the last quarter. 46.91% of the stock is currently owned by institutional investors and hedge funds.
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Blackstone Group Company Profile
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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