FY2017 EPS Estimates for The Blackstone Group L.P. (BX) Boosted by Oppenheimer Holdings

The Blackstone Group L.P. (NYSE:BX) – Research analysts at Oppenheimer Holdings increased their FY2017 earnings estimates for shares of The Blackstone Group L.P. in a research note issued to investors on Thursday. Oppenheimer Holdings analyst C. Kotowski now expects that the asset manager will earn $2.90 per share for the year, up from their previous forecast of $2.75. Oppenheimer Holdings has a “Outperform” rating and a $38.00 price target on the stock. Oppenheimer Holdings also issued estimates for The Blackstone Group L.P.’s FY2018 earnings at $3.29 EPS.

BX has been the subject of a number of other research reports. Vetr downgraded shares of The Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $33.18 target price for the company. in a research report on Thursday, April 6th. Zacks Investment Research downgraded shares of The Blackstone Group L.P. from a “hold” rating to a “sell” rating in a research report on Friday, April 7th. BidaskClub raised shares of The Blackstone Group L.P. from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 19th. Morgan Stanley reissued an “overweight” rating and set a $37.00 target price (up previously from $36.00) on shares of The Blackstone Group L.P. in a research report on Monday, July 10th. Finally, Jefferies Group LLC reissued a “buy” rating on shares of The Blackstone Group L.P. in a research report on Thursday, April 27th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $37.14.

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Shares of The Blackstone Group L.P. (BX) traded up 0.79% on Monday, hitting $34.62. 1,353,667 shares of the company were exchanged. The company has a 50-day moving average price of $33.40 and a 200 day moving average price of $31.10. The Blackstone Group L.P. has a 52-week low of $23.33 and a 52-week high of $35.09. The firm has a market cap of $22.39 billion, a P/E ratio of 17.94 and a beta of 1.32.

The Blackstone Group L.P. (NYSE:BX) last announced its quarterly earnings data on Thursday, July 20th. The asset manager reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.62 by $0.03. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates of $1.49 billion. The Blackstone Group L.P. had a net margin of 22.88% and a return on equity of 19.20%. During the same quarter last year, the firm posted $0.44 EPS.

A number of hedge funds have recently modified their holdings of the stock. Pioneer Investment Management Inc. purchased a new stake in shares of The Blackstone Group L.P. during the first quarter valued at about $4,771,000. Perkins Capital Management Inc. purchased a new stake in shares of The Blackstone Group L.P. during the first quarter valued at about $480,000. Envestnet Asset Management Inc. increased its stake in shares of The Blackstone Group L.P. by 52.0% in the fourth quarter. Envestnet Asset Management Inc. now owns 7,663 shares of the asset manager’s stock valued at $208,000 after buying an additional 2,623 shares during the period. NEXT Financial Group Inc increased its stake in shares of The Blackstone Group L.P. by 42.4% in the first quarter. NEXT Financial Group Inc now owns 14,016 shares of the asset manager’s stock valued at $432,000 after buying an additional 4,173 shares during the period. Finally, Hartwell J M Limited Partnership increased its stake in shares of The Blackstone Group L.P. by 5.4% in the first quarter. Hartwell J M Limited Partnership now owns 40,275 shares of the asset manager’s stock valued at $1,196,000 after buying an additional 2,050 shares during the period. 50.01% of the stock is owned by institutional investors.

In other The Blackstone Group L.P. news, insider John G. Finley sold 20,000 shares of the stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $32.53, for a total value of $650,600.00. Following the completion of the sale, the insider now owns 121,556 shares of the company’s stock, valued at $3,954,216.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Joan Solotar sold 30,500 shares of the stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $33.31, for a total transaction of $1,015,955.00. Following the completion of the sale, the insider now directly owns 150,281 shares of the company’s stock, valued at approximately $5,005,860.11. The disclosure for this sale can be found here. Insiders sold 15,050,500 shares of company stock valued at $392,416,555 in the last ninety days. 1.00% of the stock is owned by corporate insiders.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 7th. Shareholders of record on Monday, July 31st will be given a $0.54 dividend. This represents a $2.16 annualized dividend and a yield of 6.29%. The ex-dividend date is Thursday, July 27th. The Blackstone Group L.P.’s dividend payout ratio (DPR) is 156.76%.

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)

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