Trading Report: Today, Blackstone Group L.P. (BX) Rating Reiterate by Credit Suisse Group AG

Today, Blackstone Group L.P. (BX) Rating Reiterate by Credit Suisse Group AG

Blackstone Group L.P. (NYSE:BX)‘s stock had its “buy” rating reissued by stock analysts at Credit Suisse Group AG in a research report issued to clients and investors on Monday. They currently have a $35.00 price target on the stock. Credit Suisse Group AG’s price objective would indicate a potential upside of 31.83% from the stock’s previous close.

Several other equities analysts have also weighed in on BX. Deutsche Bank AG reissued a “hold” rating on shares of Blackstone Group L.P. in a research note on Sunday, July 10th. Keefe, Bruyette & Woods cut their target price on Blackstone Group L.P. from $34.00 to $33.00 and set a “market perform” rating on the stock in a research note on Monday, July 11th. Zacks Investment Research raised Blackstone Group L.P. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 26th. Vetr raised Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating and set a $31.48 target price on the stock in a research note on Monday, July 25th. Finally, Barclays PLC cut their target price on Blackstone Group L.P. from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, October 13th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $33.84.

Shares of Blackstone Group L.P. (NYSE:BX) traded up 2.00% during midday trading on Monday, hitting $26.55. The company had a trading volume of 1,970,370 shares. Blackstone Group L.P. has a 12-month low of $22.31 and a 12-month high of $31.87. The firm has a market capitalization of $16.75 billion, a P/E ratio of 22.12 and a beta of 1.46. The firm’s 50-day moving average is $24.76 and its 200-day moving average is $25.76.

Blackstone Group L.P. (NYSE:BX) last released its earnings results on Thursday, October 27th. The company reported $0.57 earnings per share for the quarter, missing the consensus estimate of $0.65 by $0.08. Blackstone Group L.P. had a net margin of 23.30% and a return on equity of 15.41%. The company earned $1.43 billion during the quarter, compared to analyst estimates of $1.55 billion. During the same period in the previous year, the company posted ($0.35) EPS. The company’s quarterly revenue was down 4432.0% compared to the same quarter last year. On average, analysts predict that Blackstone Group L.P. will post $1.95 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, November 7th were paid a dividend of $0.41 per share. This is an increase from Blackstone Group L.P.’s previous quarterly dividend of $0.36. This represents a $1.64 annualized dividend and a dividend yield of 6.18%. The ex-dividend date was Thursday, November 3rd. Blackstone Group L.P.’s payout ratio is currently 133.33%.

In other news, major shareholder Holdings L.P. Blackstone III sold 9,728,297 shares of Blackstone Group L.P. stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $22.66, for a total transaction of $220,443,210.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kathleen Skero sold 11,500 shares of Blackstone Group L.P. stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $26.51, for a total value of $304,865.00. Following the transaction, the insider now owns 42,967 shares of the company’s stock, valued at $1,139,055.17. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. ING Groep NV boosted its stake in Blackstone Group L.P. by 148.8% in the second quarter. ING Groep NV now owns 15,846,567 shares of the company’s stock valued at $388,558,000 after buying an additional 9,477,059 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Blackstone Group L.P. by 63.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,324,694 shares of the company’s stock valued at $155,208,000 after buying an additional 2,451,565 shares during the last quarter. FMR LLC boosted its stake in Blackstone Group L.P. by 7.1% in the second quarter. FMR LLC now owns 36,238,251 shares of the company’s stock valued at $889,287,000 after buying an additional 2,397,701 shares during the last quarter. Bank of Montreal Can boosted its stake in Blackstone Group L.P. by 65.5% in the third quarter. Bank of Montreal Can now owns 5,308,617 shares of the company’s stock valued at $135,529,000 after buying an additional 2,101,368 shares during the last quarter. Finally, Coronation Fund Managers Ltd. purchased a new stake in Blackstone Group L.P. during the second quarter valued at $46,976,000. Institutional investors own 48.49% of the company’s stock.

Blackstone Group L.P. Company Profile

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