Shares of The Blackstone Group Inc. (NYSE:BX) have been assigned an average rating of “Buy” from the eleven ratings firms that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $102.60.
Several research analysts have commented on the company. raised their price objective on The Blackstone Group from $91.00 to $100.00 and gave the stock a “neutral” rating in a report on Monday, July 12th. Morgan Stanley raised their price objective on The Blackstone Group from $98.00 to $121.00 and gave the stock an “overweight” rating in a report on Tuesday, July 20th. Zacks Investment Research downgraded The Blackstone Group from a “buy” rating to a “hold” rating and set a $139.00 price objective on the stock. in a report on Tuesday. Argus raised their price objective on The Blackstone Group from $100.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, July 23rd. Finally, Citigroup raised their price objective on The Blackstone Group from $91.00 to $100.00 and gave the stock a “neutral” rating in a report on Monday, July 12th.
In other news, major shareholder Holdings L.P. Blackstone II sold 335,000 shares of the firm’s stock in a transaction on Tuesday, August 24th. The stock was sold at an average price of $60.00, for a total value of $20,100,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Lifesciences Iii L.P. Clarus purchased 150,000 shares of the stock in a transaction on Tuesday, July 20th. The shares were purchased at an average cost of $16.00 per share, with a total value of $2,400,000.00. The disclosure for this purchase can be found here. Insiders sold a total of 508,477 shares of company stock valued at $40,210,412 in the last three months. Insiders own 1.00% of the company’s stock.
Shares of NYSE BX traded up $4.60 during midday trading on Wednesday, hitting $135.20. The company’s stock had a trading volume of 181,574 shares, compared to its average volume of 3,329,406. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $115.08 and its two-hundred day moving average is $95.55. The Blackstone Group has a 12-month low of $49.26 and a 12-month high of $132.33. The firm has a market cap of $92.74 billion, a P/E ratio of 20.15 and a beta of 1.35.
The Blackstone Group (NYSE:BX) last issued its quarterly earnings results on Wednesday, July 21st. The asset manager reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.77 by $0.05. The Blackstone Group had a return on equity of 15.88% and a net margin of 26.67%. The firm had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the prior year, the business posted $0.43 earnings per share. The company’s revenue for the quarter was up 90.3% on a year-over-year basis. On average, analysts predict that The Blackstone Group will post 3.7 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 9th. Stockholders of record on Monday, August 2nd were given a $0.8475 dividend. The ex-dividend date of this dividend was Friday, July 30th. This represents a $3.39 dividend on an annualized basis and a dividend yield of 2.51%. The Blackstone Group’s payout ratio is 105.66%.
About The Blackstone Group
The Blackstone Group, Inc engages in the provision of investment and fund management services. It operates through the following segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit. The Private Equity segment consists of flagship corporate private equity funds, Blackstone Capital Partners funds, sector-focused corporate private equity funds, including energy-focused funds, Blackstone Energy Partners funds, and core private equity fund, Blackstone Core Equity Partners.
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