Blackstone Group LP (BX) Announces Earnings Results
Vetr raised shares of Blackstone Group from a "hold" rating to a "buy" rating and set a $31.70 price target for the company in a report on Monday, January 9th. The institutional investor owned 155,589 shares of the company's stock after buying an additional 3,523 shares during the period. The stock of Blackstone Group LP (NYSE:BX) has "Positive" rating given on Thursday, September 3 by Susquehanna. 3,158,002 shares of the company traded hands. State of New Jersey Common Pension Fund D raised its position in shares of Blackstone Group by 27.3% in the third quarter.
Each of the 7 covering analysts have also provided a Buy, Sell or Hold recommendation on the stock. Finally, HL Financial Services LLC raised its stake in Blackstone Group by 0.3% in the third quarter. River Road Asset Management LLC bought a new stake in Blackstone Group during the third quarter valued at $1,086,000. Israel Discount Bank of New York GFN acquired a new position in Blackstone Group during the fourth quarter valued at approximately $135,000. Pittenger & Anderson Inc. now owns 4,000 shares of the asset manager's stock valued at $108,000 after buying an additional 450 shares during the last quarter. Wagner Bowman Management Corp raised its position in shares of Blackstone Group by 9.4% in the third quarter. IFC Holdings Incorporated FL now owns 19,253 shares of the company's stock worth $490,000 after buying an additional 268 shares during the period. Institutional investors and hedge funds own 43.26% of the company's stock.
Sell-side analysts on Wall Street are anticipating that The Blackstone Group L.P. (NYSE:BX) will report earnings of $0.68 per share when the company issues their quarterly report today. Cibc Ww Inc accumulated 7.62M shares or 0.43% of the stock. Company's distance from 20 day simple moving average is 1.74% and distance from 50-Day simple moving average is 0.68%. Blackstone Group has a 52-week low of $22.45 and a 52-week high of $31.69. The firm has a market cap of $19.30 billion, a price-to-earnings ratio of 19.23 and a beta of 1.42.
If you look at the company's income statement over the past years, you will see that the company is constantly posting gross profit: In 2014, BX earned gross profit of 6.2 Billion, in 2015 4.08 Billion gross profit, while in 2016 The Blackstone Group L.P. (BX) produced 4.26 Billion profit. During that same period 1 analysts have increased their earnings expectations for the firm.
The Blackstone Group L.P. (NYSE:BX) yearly performance is 8.07% and net profit margin is 20.30%.
The company reported an impressive total revenue of 5.13 Billion in the last fiscal year. During the same period previous year, the company earned $0.37 earnings per share. On average, equities research analysts predict that The Blackstone Group L.P. will post $2.86 EPS for the current year.
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A number of brokerages have recently commented on BX. Credit Suisse Group AG set a $40.00 price target on Blackstone Group and gave the stock a "buy" rating in a report on Wednesday, February 8th. Deutsche Bank maintained the shares of BX in report on Monday, August 17 with "Buy" rating. The firm earned "Buy" rating on Friday, November 11 by Dundee Securities. Buy rating has been given by 5 analysts to the company stock whereas 2 analysts given UNDERPERFORM rating to stock and 19 analysts given HOLD rating.
In related news, Director Bennett J. Goodman sold 635,075 shares of Blackstone Group stock in a transaction on Friday, February 10th. Following the completion of the sale, the director now directly owns 315,331 shares in the company, valued at $9,541,916.06. The sale was disclosed in a filing with the SEC, which is available through this link. The shares were sold at an average price of $29.00, for a total value of $290,000.00. Following the transaction, the insider now directly owns 161,556 shares in the company, valued at approximately $4,963,000.32.
The Blackstone Group L.P. (BX) belongs to the "Financial" sector with an industry focus on "Asset Management", with Mr. Stephen Allen Schwarzman as Co-Founder, Chairman and Chief Exec. Officer.
Blackstone's private equity business reported a 291 percent rise in ENI, with its buyout funds appreciating 6.9 percent in the quarter.
Nabors Industries's payout ratio is -7.92%. 09/23/2016 - Nabors Industries Ltd. had its " rating reiterated by analysts at Argus. The highest price NBR stock touched in the last 12 month was $8.32 and the lowest price it hit in the same period was $7.47.
Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Finally, BTIG Research reissued a "hold" rating on shares of Genworth Financial in a report on Tuesday, November 1st.
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