Jefferies Group Equities Analysts Decrease Earnings Estimates for Blackstone Group L.P. (BX)
Blackstone Group L.P. (NYSE:BX) – Equities researchers at Jefferies Group dropped their Q3 2016 earnings per share (EPS) estimates for shares of Blackstone Group L.P. in a research report issued to clients and investors on Tuesday. Jefferies Group analyst D. Fannon now forecasts that the firm will post earnings per share of $0.51 for the quarter, down from their prior forecast of $0.64. Jefferies Group currently has a “Buy” rating on the stock. Jefferies Group also issued estimates for Blackstone Group L.P.’s FY2016 earnings at $1.86 EPS.
Blackstone Group L.P. (NYSE:BX) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.05. Blackstone Group L.P. had a return on equity of 6.15% and a net margin of 15.50%. The firm had revenue of $1.17 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the business posted $0.43 earnings per share. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis.
A number of other brokerages also recently weighed in on BX. Vetr downgraded Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $31.48 price objective on the stock. in a research note on Thursday, August 18th. 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. Barclays PLC raised their price objective on Blackstone Group L.P. from $29.00 to $33.00 and gave the company an “overweight” rating in a research note on Tuesday, August 9th. Bank of America Corp. reissued a “hold” rating on shares of Blackstone Group L.P. in a research note on Friday, July 22nd. Finally, Credit Suisse Group AG reissued a “buy” rating and issued a $35.00 price objective on shares of Blackstone Group L.P. in a research note on Sunday, September 11th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Blackstone Group L.P. has an average rating of “Buy” and a consensus target price of $33.84.
Blackstone Group L.P. (NYSE:BX) opened at 23.84 on Thursday. The company’s 50-day moving average price is $25.86 and its 200 day moving average price is $26.40. Blackstone Group L.P. has a 52 week low of $22.31 and a 52 week high of $35.00. The company has a market capitalization of $14.97 billion, a PE ratio of 50.30 and a beta of 1.57.
In other Blackstone Group L.P. news, insider Kathleen Skero sold 11,500 shares of the business’s stock in a transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the company. Private Trust Co. NA raised its position in Blackstone Group L.P. by 0.9% in the third quarter. Private Trust Co. NA now owns 58,713 shares of the company’s stock worth $1,498,000 after buying an additional 504 shares in the last quarter. W.G. Shaheen & Associates DBA Whitney & Co raised its position in Blackstone Group L.P. by 11.4% in the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 37,025 shares of the company’s stock worth $945,000 after buying an additional 3,775 shares in the last quarter. Renaissance Investment Group LLC raised its position in Blackstone Group L.P. by 2.9% in the third quarter. Renaissance Investment Group LLC now owns 130,599 shares of the company’s stock worth $3,334,000 after buying an additional 3,663 shares in the last quarter. Hollencrest Securities LLC raised its position in Blackstone Group L.P. by 11.9% in the third quarter. Hollencrest Securities LLC now owns 50,572 shares of the company’s stock worth $1,291,000 after buying an additional 5,358 shares in the last quarter. Finally, Prospera Financial Services Inc raised its position in Blackstone Group L.P. by 489.3% in the third quarter. Prospera Financial Services Inc now owns 253,000 shares of the company’s stock worth $6,459,000 after buying an additional 210,067 shares in the last quarter. 49.11% of the stock is currently owned by institutional investors.
Blackstone Group L.P. Company Profile
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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