The Blackstone Group L.P. (BX) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of The Blackstone Group L.P. (NYSE:BX) from a sell rating to a hold rating in a research note published on Monday morning.

According to Zacks, “Blackstone’s shares have underperformed the industry in the last six months. Yet, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters. The company remains well positioned to capitalize on the changing investment landscape by making long-term investments and augmenting its fund-raising ability. The company is well positioned to benefit from diversified products and revenue mix. However, its higher dependence on management and advisory fees for revenues remains a key near-term concern. Also, sustainability of its quarterly distribution (owing to higher debt equity and dividend payout ratios than the industry) is less, which makes us apprehensive.”

Several other equities research analysts have also commented on the company. Credit Suisse Group dropped their price target on The Blackstone Group L.P. from $46.00 to $45.00 and set an outperform rating for the company in a research note on Wednesday, August 30th. BidaskClub upgraded The Blackstone Group L.P. from a hold rating to a buy rating in a research note on Saturday, June 24th. Oppenheimer Holdings, Inc. upped 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 note on Friday, July 14th. Morgan Stanley restated an overweight rating and set a $37.00 price target (up from $36.00) on shares of The Blackstone Group L.P. in a research note on Monday, July 10th. Finally, Vetr lowered The Blackstone Group L.P. from a strong-buy rating to a buy rating and set a $37.57 price target for the company. in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $37.72.

Shares of The Blackstone Group L.P. (NYSE BX) opened at 33.26 on Monday. The Blackstone Group L.P. has a 12 month low of $23.33 and a 12 month high of $35.09. The firm has a market capitalization of $21.58 billion, a P/E ratio of 14.96 and a beta of 1.33. The company’s 50 day moving average price is $32.48 and its 200-day moving average price is $32.08.

The Blackstone Group L.P. (NYSE:BX) last announced its quarterly earnings results on Thursday, July 20th. The asset manager reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.03). The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.49 billion. The Blackstone Group L.P. had a return on equity of 18.97% and a net margin of 22.88%. During the same quarter in the prior year, the company earned $0.44 earnings per share. On average, equities analysts predict that The Blackstone Group L.P. will post $2.77 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This news story was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://ledgergazette.com/2017/10/10/the-blackstone-group-l-p-bx-upgraded-to-hold-by-zacks-investment-research.html.

Institutional investors have recently bought and sold shares of the company. Baldwin Investment Management LLC increased its stake in shares of The Blackstone Group L.P. by 1.8% in the second quarter. Baldwin Investment Management LLC now owns 11,450 shares of the asset manager’s stock worth $382,000 after purchasing an additional 200 shares during the period. Artemis Investment Management LLP increased its stake in shares of The Blackstone Group L.P. by 91.9% in the second quarter. Artemis Investment Management LLP now owns 2,147,762 shares of the asset manager’s stock worth $71,618,000 after purchasing an additional 1,028,755 shares during the period. Banque Pictet & Cie SA bought a new position in shares of The Blackstone Group L.P. in the second quarter worth about $1,668,000. Adalta Capital Management LLC bought a new position in shares of The Blackstone Group L.P. in the first quarter worth about $3,557,000. Finally, Whalerock Point Partners LLC bought a new position in shares of The Blackstone Group L.P. in the second quarter worth about $205,000. 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’

According to Zacks, “Blackstone’s shares have underperformed the industry in the last six months. Yet, the company has an impressive earnings surprise history, having surpassed the Zacks Consensus Estimate in three of the trailing four quarters. The company remains well positioned to capitalize on the changing investment landscape by making long-term investments and augmenting its fund-raising ability. The company is well positioned to benefit from diversified products and revenue mix. However, its higher dependence on management and advisory fees for revenues remains a key near-term concern. Also, sustainability of its quarterly distribution (owing to higher debt equity and dividend payout ratios than the industry) is less, which makes us apprehensive.”

Several other equities research analysts have also commented on the company. Credit Suisse Group dropped their price target on The Blackstone Group L.P. from $46.00 to $45.00 and set an outperform rating for the company in a research note on Wednesday, August 30th. BidaskClub upgraded The Blackstone Group L.P. from a hold rating to a buy rating in a research note on Saturday, June 24th. Oppenheimer Holdings, Inc. upped 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 note on Friday, July 14th. Morgan Stanley restated an overweight rating and set a $37.00 price target (up from $36.00) on shares of The Blackstone Group L.P. in a research note on Monday, July 10th. Finally, Vetr lowered The Blackstone Group L.P. from a strong-buy rating to a buy rating and set a $37.57 price target for the company. in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $37.72.

Shares of The Blackstone Group L.P. (NYSE BX) opened at 33.26 on Monday. The Blackstone Group L.P. has a 12 month low of $23.33 and a 12 month high of $35.09. The firm has a market capitalization of $21.58 billion, a P/E ratio of 14.96 and a beta of 1.33. The company’s 50 day moving average price is $32.48 and its 200-day moving average price is $32.08.

The Blackstone Group L.P. (NYSE:BX) last announced its quarterly earnings results on Thursday, July 20th. The asset manager reported $0.59 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.62 by ($0.03). The firm had revenue of $1.55 billion for the quarter, compared to analyst estimates of $1.49 billion. The Blackstone Group L.P. had a return on equity of 18.97% and a net margin of 22.88%. During the same quarter in the prior year, the company earned $0.44 earnings per share. On average, equities analysts predict that The Blackstone Group L.P. will post $2.77 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: This news story was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://ledgergazette.com/2017/10/10/the-blackstone-group-l-p-bx-upgraded-to-hold-by-zacks-investment-research.html.

Institutional investors have recently bought and sold shares of the company. Baldwin Investment Management LLC increased its stake in shares of The Blackstone Group L.P. by 1.8% in the second quarter. Baldwin Investment Management LLC now owns 11,450 shares of the asset manager’s stock worth $382,000 after purchasing an additional 200 shares during the period. Artemis Investment Management LLP increased its stake in shares of The Blackstone Group L.P. by 91.9% in the second quarter. Artemis Investment Management LLP now owns 2,147,762 shares of the asset manager’s stock worth $71,618,000 after purchasing an additional 1,028,755 shares during the period. Banque Pictet & Cie SA bought a new position in shares of The Blackstone Group L.P. in the second quarter worth about $1,668,000. Adalta Capital Management LLC bought a new position in shares of The Blackstone Group L.P. in the first quarter worth about $3,557,000. Finally, Whalerock Point Partners LLC bought a new position in shares of The Blackstone Group L.P. in the second quarter worth about $205,000. 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.

Analyst Recommendations for The Blackstone Group L.P. (NYSE:BX)

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