Blackstone Group L.P. (NYSE:BX) – Investment analysts at Jefferies Group dropped their Q4 2016 EPS estimates for shares of Blackstone Group L.P. in a research note issued to investors on Tuesday. Jefferies Group analyst D. Fannon now expects that the brokerage will earn $0.60 per share for the quarter, down from their previous estimate of $0.68. Jefferies Group has a “Buy” rating and a $31.00 price target on the stock. Jefferies Group also issued estimates for Blackstone Group L.P.’s Q1 2017 earnings at $0.68 EPS, Q2 2017 earnings at $0.69 EPS, Q3 2017 earnings at $0.71 EPS and Q4 2017 earnings at $0.73 EPS.
BX has been the subject of a number of other research reports. Vetr cut shares of Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $29.22 price target for the company. in a research note on Wednesday, September 21st. Zacks Investment Research cut shares of Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research note on Friday, October 7th. Credit Suisse Group AG reiterated a “buy” rating and issued a $35.00 target price on shares of Blackstone Group L.P. in a research note on Monday, September 19th. TheStreet cut shares of Blackstone Group L.P. to a “hold” rating in a research note on Wednesday, June 15th. Finally, Barclays PLC cut their target price on shares of Blackstone Group L.P. from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Thursday, July 7th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $33.95.
Shares of Blackstone Group L.P. (NYSE:BX) traded down 0.53% during trading on Wednesday, reaching $24.17. The company’s stock had a trading volume of 2,418,713 shares. The company’s 50-day moving average is $26.10 and its 200-day moving average is $26.44. Blackstone Group L.P. has a 12 month low of $22.31 and a 12 month high of $35.00. The company has a market capitalization of $15.18 billion, a P/E ratio of 50.99 and a beta of 1.57.
Blackstone Group L.P. (NYSE:BX) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.05. The firm earned $1.17 billion during the quarter, compared to analyst estimates of $1.11 billion. Blackstone Group L.P. had a return on equity of 6.15% and a net margin of 15.50%. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. During the same period last year, the company posted $0.43 EPS.
Several institutional investors have recently made changes to their positions in the company. Huntington National Bank boosted its position in shares of Blackstone Group L.P. by 17.0% in the second quarter. Huntington National Bank now owns 4,687 shares of the company’s stock worth $115,000 after buying an additional 682 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in shares of Blackstone Group L.P. during the second quarter worth $125,000. TCI Wealth Advisors Inc. boosted its position in shares of Blackstone Group L.P. by 1.0% in the second quarter. TCI Wealth Advisors Inc. now owns 5,074 shares of the company’s stock worth $125,000 after buying an additional 51 shares in the last quarter. Adirondack Trust Co. boosted its position in shares of Blackstone Group L.P. by 0.7% in the second quarter. Adirondack Trust Co. now owns 5,236 shares of the company’s stock worth $128,000 after buying an additional 36 shares in the last quarter. Finally, Kistler Tiffany Companies LLC boosted its position in shares of Blackstone Group L.P. by 91.8% in the second quarter. Kistler Tiffany Companies LLC now owns 5,359 shares of the company’s stock worth $132,000 after buying an additional 2,565 shares in the last quarter. 49.11% of the stock is currently owned by institutional investors.
In other Blackstone Group L.P. news, insider Kathleen Skero sold 11,500 shares of Blackstone Group L.P. stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $26.51, for a total transaction of $304,865.00. Following the completion of the sale, the insider now owns 42,967 shares of the company’s stock, valued at approximately $1,139,055.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.00% of the company’s stock.
About Blackstone Group L.P.
The Blackstone Group L.P. (Blackstone) is a global alternative asset manager. The Company’s alternative asset management businesses include investment vehicles focused on private equity, real estate, hedge fund solutions, non-investment grade credit, secondary funds and other multi-asset class strategies.
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