Blackstone Group LP (NYSE:BX) – Equities research analysts at Jefferies Financial Group cut their Q1 2019 earnings per share estimates for shares of Blackstone Group in a research note issued on Thursday, January 10th. Jefferies Financial Group analyst D. Fannon now forecasts that the asset manager will post earnings per share of $0.76 for the quarter, down from their prior forecast of $0.77. Jefferies Financial Group also issued estimates for Blackstone Group’s Q2 2019 earnings at $0.78 EPS, Q3 2019 earnings at $0.79 EPS and FY2019 earnings at $3.13 EPS.
BX has been the topic of several other reports. Bank of America boosted their target price on Blackstone Group from $40.00 to $46.00 and gave the stock a “buy” rating in a report on Monday, September 24th. Citigroup lifted their price target on Blackstone Group from $43.00 to $47.50 and gave the company a “buy” rating in a research report on Monday, September 24th. ValuEngine upgraded Blackstone Group from a “hold” rating to a “buy” rating in a research report on Saturday, September 22nd. JPMorgan Chase & Co. set a $45.00 price target on Blackstone Group and gave the company a “buy” rating in a research report on Thursday, September 20th. Finally, Zacks Investment Research upgraded Blackstone Group from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Tuesday, September 18th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $42.54.
Blackstone Group (NYSE:BX) last posted its earnings results on Thursday, October 18th. The asset manager reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.02. Blackstone Group had a net margin of 22.34% and a return on equity of 22.67%. The firm had revenue of $1.83 billion during the quarter, compared to analyst estimates of $1.79 billion. During the same period in the previous year, the business posted $0.69 EPS. Blackstone Group’s revenue was up 11.1% on a year-over-year basis.
In other Blackstone Group news, major shareholder Blackstone Bgsl Holdings Llc acquired 192,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 6th. The shares were purchased at an average cost of $25.00 per share, for a total transaction of $4,800,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. American Century Companies Inc. lifted its holdings in shares of Blackstone Group by 61.7% in the 2nd quarter. American Century Companies Inc. now owns 12,141 shares of the asset manager’s stock worth $391,000 after purchasing an additional 4,631 shares in the last quarter. BlackRock Inc. lifted its holdings in Blackstone Group by 29.7% in the second quarter. BlackRock Inc. now owns 218,049 shares of the asset manager’s stock valued at $7,016,000 after acquiring an additional 49,989 shares during the last quarter. OppenheimerFunds Inc. lifted its holdings in Blackstone Group by 1.4% in the second quarter. OppenheimerFunds Inc. now owns 1,098,800 shares of the asset manager’s stock valued at $35,348,000 after acquiring an additional 15,000 shares during the last quarter. Glen Harbor Capital Management LLC acquired a new position in Blackstone Group in the second quarter valued at approximately $323,000. Finally, Flinton Capital Management LLC acquired a new position in Blackstone Group in the second quarter valued at approximately $185,000. 49.61% of the stock is currently owned by institutional investors.
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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