Blackstone Group LP (NYSE:BX) – Jefferies Financial Group reduced their Q1 2019 earnings estimates for shares of Blackstone Group in a research note issued on Thursday, January 10th. Jefferies Financial Group analyst D. Fannon now anticipates that the asset manager will earn $0.76 per share for the quarter, down from their prior forecast of $0.77. Jefferies Financial Group also issued estimates for Blackstone Group’s Q2 2019 earnings at $0.78 EPS, Q3 2019 earnings at $0.79 EPS and FY2019 earnings at $3.13 EPS.
Blackstone Group (NYSE:BX) last announced its quarterly earnings results on Thursday, October 18th. The asset manager reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02. Blackstone Group had a net margin of 22.34% and a return on equity of 22.67%. The firm had revenue of $1.83 billion during the quarter, compared to the consensus estimate of $1.79 billion. During the same quarter last year, the firm earned $0.69 EPS. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year.
A number of other brokerages also recently commented on BX. Zacks Investment Research raised shares of Blackstone Group from a “hold” rating to a “buy” rating and set a $40.00 price target for the company in a report on Wednesday, October 17th. Argus increased their price target on shares of Blackstone Group from $39.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, September 25th. Morgan Stanley lowered their price target on shares of Blackstone Group from $42.00 to $36.00 and set an “overweight” rating for the company in a report on Friday, January 4th. JMP Securities increased their price target on shares of Blackstone Group from $39.00 to $43.00 and gave the company an “outperform” rating in a report on Monday, September 24th. Finally, Deutsche Bank lowered their price target on shares of Blackstone Group from $35.00 to $34.00 and set a “hold” rating for the company in a report on Friday, November 16th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $42.54.
Shares of NYSE:BX opened at $31.97 on Friday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.71. Blackstone Group has a 12 month low of $26.88 and a 12 month high of $40.60. The stock has a market capitalization of $21.02 billion, a P/E ratio of 11.38, a price-to-earnings-growth ratio of 1.50 and a beta of 1.33.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley increased its position in shares of Blackstone Group by 0.9% during the third quarter. Morgan Stanley now owns 31,144,347 shares of the asset manager’s stock worth $1,185,976,000 after acquiring an additional 273,178 shares during the period. JRM Investment Counsel LLC increased its position in shares of Blackstone Group by 2.2% during the third quarter. JRM Investment Counsel LLC now owns 240,158 shares of the asset manager’s stock worth $9,145,000 after acquiring an additional 5,281 shares during the period. Robeco Institutional Asset Management B.V. purchased a new position in shares of Blackstone Group during the third quarter worth approximately $11,424,000. Marshall Wace LLP purchased a new position in shares of Blackstone Group during the third quarter worth approximately $2,680,000. Finally, Clarus Wealth Advisors increased its position in shares of Blackstone Group by 180.1% during the third quarter. Clarus Wealth Advisors now owns 8,534 shares of the asset manager’s stock worth $325,000 after acquiring an additional 5,487 shares during the period. 49.61% of the stock is owned by institutional investors and hedge funds.
In other news, major shareholder Blackstone Bgsl Holdings Llc acquired 192,000 shares of the firm’s stock in a transaction on Tuesday, November 6th. The stock was acquired at an average price of $25.00 per share, with a total value of $4,800,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.
Blackstone Group Company Profile
The Blackstone Group L.P. is a publicly owned alternative asset manager. The firm also provides capital markets services to its clients. It provides its services to public and corporate pension funds, academic, cultural, and charitable organizations, retirees, sovereign wealth funds, and institutional and individual investors.
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