The Blackstone Group L.P. (NYSE:BX) – Analysts at Jefferies Group dropped their FY2017 earnings estimates for The Blackstone Group L.P. in a report released on Friday. Jefferies Group analyst D. Fannon now anticipates that the asset manager will post earnings of $2.61 per share for the year, down from their previous forecast of $2.85. Jefferies Group currently has a “Buy” rating and a $38.00 price target on the stock. Jefferies Group also issued estimates for The Blackstone Group L.P.’s Q4 2017 earnings at $0.69 EPS, FY2018 earnings at $3.06 EPS and FY2019 earnings at $3.24 EPS.

The Blackstone Group L.P. (NYSE:BX) last issued its quarterly earnings data on Thursday, July 20th. The asset manager reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.62 by ($0.03). The company had revenue of $1.55 billion for 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 18.97%. During the same period in the prior year, the company posted $0.44 EPS.

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Other equities analysts also recently issued research reports about the company. BidaskClub downgraded The Blackstone Group L.P. from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Oppenheimer Holdings, Inc. boosted their price target on The Blackstone Group L.P. from $34.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, July 14th. Vetr downgraded The Blackstone Group L.P. from a “strong-buy” rating to a “buy” rating and set a $37.57 price target on the stock. in a research report on Wednesday, July 12th. Deutsche Bank AG boosted their price target on The Blackstone Group L.P. from $32.00 to $33.00 and gave the stock a “hold” rating in a research report on Friday, July 21st. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $37.00 price target on shares of The Blackstone Group L.P. in a research report on Friday, July 14th. One analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $37.72.

The Blackstone Group L.P. (NYSE BX) opened at 33.44 on Monday. The stock’s 50 day moving average price is $32.43 and its 200-day moving average price is $32.03. The firm has a market cap of $21.70 billion, a price-to-earnings ratio of 15.04 and a beta of 1.33. The Blackstone Group L.P. has a one year low of $23.33 and a one year high of $35.09.

Several hedge funds have recently modified their holdings of the stock. Crow Point Partners LLC bought a new stake in shares of The Blackstone Group L.P. in the third quarter valued at approximately $233,000. Neville Rodie & Shaw Inc. boosted its stake in shares of The Blackstone Group L.P. by 14.6% in the third quarter. Neville Rodie & Shaw Inc. now owns 30,099 shares of the asset manager’s stock valued at $1,004,000 after buying an additional 3,826 shares during the period. Cacti Asset Management LLC boosted its stake in shares of The Blackstone Group L.P. by 21.1% in the third quarter. Cacti Asset Management LLC now owns 1,272,950 shares of the asset manager’s stock valued at $41,918,000 after buying an additional 221,558 shares during the period. Frontier Investment Mgmt Co. bought a new stake in shares of The Blackstone Group L.P. in the second quarter valued at approximately $748,000. Finally, Intl Fcstone Inc. bought a new stake in shares of The Blackstone Group L.P. in the second quarter valued at approximately $895,000. Institutional investors and hedge funds own 46.62% of the company’s stock.

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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