Blackstone Group LP (NYSE:BX) – Equities research analysts at Jefferies Financial Group lowered their Q2 2019 EPS estimates for Blackstone Group in a report issued on Monday, February 11th. Jefferies Financial Group analyst D. Fannon now forecasts that the asset manager will post earnings of $0.64 per share for the quarter, down from their previous forecast of $0.78. Jefferies Financial Group also issued estimates for Blackstone Group’s Q3 2019 earnings at $0.66 EPS, Q4 2019 earnings at $0.70 EPS and FY2020 earnings at $2.96 EPS.
Several other equities analysts have also recently issued reports on the company. Zacks Investment Research upgraded Blackstone Group from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Wednesday, October 17th. Morgan Stanley decreased their price target on Blackstone Group from $48.00 to $42.00 and set a “buy” rating for the company in a research report on Wednesday, November 14th. Finally, Deutsche Bank decreased their price objective on Blackstone Group from $35.00 to $34.00 and set a “hold” rating for the company in a research report on Friday, November 16th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $42.54.
Shares of NYSE:BX opened at $33.77 on Wednesday. The company has a market capitalization of $22.39 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 3.14 and a beta of 1.43. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.97 and a quick ratio of 0.97. Blackstone Group has a 52-week low of $26.88 and a 52-week high of $40.60.
Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, January 31st. The asset manager reported ($0.02) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.05). The company had revenue of $504.98 million for the quarter, compared to analyst estimates of $381.19 million. Blackstone Group had a net margin of 22.56% and a return on equity of 16.33%. The company’s revenue was down 74.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.71 EPS.
Several hedge funds have recently bought and sold shares of BX. Bank of Montreal Can increased its position in Blackstone Group by 58.3% in the 4th quarter. Bank of Montreal Can now owns 14,094,176 shares of the asset manager’s stock valued at $420,147,000 after buying an additional 5,189,588 shares in the last quarter. Capital International Investors purchased a new position in Blackstone Group in the third quarter valued at approximately $82,710,000. ING Groep NV lifted its stake in Blackstone Group by 234.9% in the third quarter. ING Groep NV now owns 2,040,300 shares of the asset manager’s stock valued at $77,695,000 after purchasing an additional 1,431,100 shares during the last quarter. Vantage Investment Partners LLC raised its holdings in Blackstone Group by 151.7% during the 4th quarter. Vantage Investment Partners LLC now owns 2,302,246 shares of the asset manager’s stock valued at $68,630,000 after acquiring an additional 1,387,663 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of Blackstone Group by 94.5% in the third quarter. Russell Investments Group Ltd. now owns 2,545,117 shares of the asset manager’s stock worth $96,924,000 after purchasing an additional 1,236,519 shares during the period. 50.35% of the stock is owned by hedge funds and other institutional investors.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, February 19th. Shareholders of record on Monday, February 11th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 6.87%. The ex-dividend date is Friday, February 8th. Blackstone Group’s payout ratio is presently 102.65%.
About Blackstone Group
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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