Blackstone Group LP (NYSE:BX) – Investment analysts at Oppenheimer reduced their Q1 2019 earnings per share estimates for shares of Blackstone Group in a research note issued on Thursday, January 31st. Oppenheimer analyst L. Rudary now anticipates that the asset manager will post earnings per share of $0.72 for the quarter, down from their previous estimate of $0.81. Oppenheimer has a “Buy” rating and a $44.00 price objective on the stock. Oppenheimer also issued estimates for Blackstone Group’s Q2 2019 earnings at $0.73 EPS, Q3 2019 earnings at $0.73 EPS, Q4 2019 earnings at $0.75 EPS and FY2020 earnings at $3.20 EPS.
Get Blackstone Group alerts:Other research analysts also recently issued reports about the stock. Zacks Investment Research raised shares of Blackstone Group from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday, October 17th. Deutsche Bank dropped their target price on shares of Blackstone Group from $35.00 to $34.00 and set a “hold” rating on the stock in a research report on Friday, November 16th. Finally, Morgan Stanley dropped their target price on shares of Blackstone Group from $48.00 to $42.00 and set a “buy” rating on the stock in a research report on Wednesday, November 14th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $42.54.
Blackstone Group stock opened at $34.00 on Monday. The company has a market capitalization of $22.52 billion, a PE ratio of 15.04, a PEG ratio of 3.00 and a beta of 1.43. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.71. Blackstone Group has a fifty-two week low of $26.88 and a fifty-two week high of $40.60.
Blackstone Group (NYSE:BX) last released its earnings results on Thursday, January 31st. The asset manager reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.05). The firm had revenue of $504.98 million during the quarter, compared to analysts’ expectations of $381.19 million. Blackstone Group had a return on equity of 16.33% and a net margin of 22.56%. The business’s revenue was down 74.2% on a year-over-year basis. During the same period last year, the business earned $0.71 earnings per share.
Several hedge funds have recently bought and sold shares of the stock. Baldwin Brothers Inc. MA boosted its holdings in shares of Blackstone Group by 0.7% during the fourth quarter. Baldwin Brothers Inc. MA now owns 473,956 shares of the asset manager’s stock worth $14,129,000 after purchasing an additional 3,156 shares during the period. United Income Inc. acquired a new stake in shares of Blackstone Group during the fourth quarter worth approximately $208,000. Cottage Street Advisors LLC boosted its holdings in shares of Blackstone Group by 3.1% during the fourth quarter. Cottage Street Advisors LLC now owns 89,789 shares of the asset manager’s stock worth $2,677,000 after purchasing an additional 2,681 shares during the period. Financial Architects Inc boosted its holdings in shares of Blackstone Group by 34.0% during the fourth quarter. Financial Architects Inc now owns 10,475 shares of the asset manager’s stock worth $312,000 after purchasing an additional 2,660 shares during the period. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Blackstone Group by 6.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 405,240 shares of the asset manager’s stock worth $12,080,000 after purchasing an additional 23,740 shares during the period. Institutional investors and hedge funds own 50.49% of the company’s stock.
In related news, major shareholder Blackstone Bgsl Holdings Llc purchased 192,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The stock was acquired at an average cost of $25.00 per share, for a total transaction of $4,800,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.00% of the company’s stock.
The business also recently declared a dividend, which will be paid on Tuesday, February 19th. Investors of record on Monday, February 11th will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, February 8th. Blackstone Group’s dividend payout ratio is currently 113.27%.
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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