Blackstone Group L.P. (NYSE:BX) – Equities researchers at Oppenheimer Holdings dropped their Q3 2016 earnings estimates for Blackstone Group L.P. in a research note issued on Wednesday. Oppenheimer Holdings analyst C. Kotowski now expects that the firm will post earnings per share of $0.53 for the quarter, down from their prior forecast of $0.67. Oppenheimer Holdings also issued estimates for Blackstone Group L.P.’s FY2016 earnings at $1.93 EPS and FY2017 earnings at $2.80 EPS.

Other analysts have also recently issued research reports about the stock. Vetr cut shares of Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $29.72 price objective for the company. in a research report on Wednesday, August 31st. Jefferies Group upped their price objective on shares of Blackstone Group L.P. from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, August 2nd. Credit Suisse Group AG restated a “buy” rating and issued a $35.00 price objective on shares of Blackstone Group L.P. in a research report on Sunday, September 11th. Zacks Investment Research upgraded shares of Blackstone Group L.P. from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research report on Tuesday, October 4th. Finally, Bank of America Corp. restated a “hold” rating on shares of Blackstone Group L.P. in a research report on Friday, July 22nd. Seven research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $33.84.

Earnings History and Estimates for Blackstone Group L.P. (NYSE:BX)

Blackstone Group L.P. (NYSE:BX) opened at 23.68 on Friday. The firm has a market cap of $14.87 billion, a price-to-earnings ratio of 49.96 and a beta of 1.57. Blackstone Group L.P. has a 12 month low of $22.31 and a 12 month high of $34.71. The stock has a 50 day moving average price of $25.75 and a 200 day moving average price of $26.38.

Blackstone Group L.P. (NYSE:BX) last issued its earnings results on Thursday, July 21st. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. The company 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 business’s revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.43 EPS.

A number of large investors have recently modified their holdings of BX. Stelac Advisory Services LLC increased its stake in shares of Blackstone Group L.P. by 152.1% in the first quarter. Stelac Advisory Services LLC now owns 146,910 shares of the company’s stock valued at $3,858,000 after buying an additional 88,635 shares during the period. Eachwin Capital LP bought a new stake in shares of Blackstone Group L.P. during the first quarter valued at about $457,000. LPL Financial LLC increased its stake in shares of Blackstone Group L.P. by 0.4% in the first quarter. LPL Financial LLC now owns 722,438 shares of the company’s stock valued at $19,751,000 after buying an additional 2,957 shares during the period. Natixis increased its stake in shares of Blackstone Group L.P. by 36.8% in the first quarter. Natixis now owns 17,560 shares of the company’s stock valued at $493,000 after buying an additional 4,727 shares during the period. Finally, Silvercrest Asset Management Group LLC increased its stake in shares of Blackstone Group L.P. by 4.0% in the first quarter. Silvercrest Asset Management Group LLC now owns 31,334 shares of the company’s stock valued at $879,000 after buying an additional 1,200 shares during the period. Hedge funds and other institutional investors own 49.11% of the company’s stock.

In related news, insider Kathleen Skero sold 11,000 shares of the firm’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $27.87, for a total value of $306,570.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.00% of the stock is currently owned by corporate insiders.

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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