Blackstone Group (BX) Rating Lowered to Buy at Vetr

Blackstone Group (NYSE:BX) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a report released on Monday. They presently have a $35.50 target price on the asset manager’s stock. Vetr‘s target price suggests a potential upside of 10.45% from the stock’s previous close.

A number of other research firms have also recently commented on BX. BidaskClub cut shares of Blackstone Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 16th. Credit Suisse Group dropped their target price on shares of Blackstone Group from $46.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, August 30th. Zacks Investment Research cut shares of Blackstone Group from a “hold” rating to a “sell” rating in a report on Monday, September 25th. Oppenheimer reissued a “buy” rating on shares of Blackstone Group in a report on Thursday, October 19th. Finally, Bank of America increased their target price on shares of Blackstone Group from $38.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, October 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $38.25.

Shares of Blackstone Group (NYSE BX) opened at $32.14 on Monday. Blackstone Group has a 52-week low of $26.20 and a 52-week high of $35.09. The company has a debt-to-equity ratio of 0.95, a quick ratio of 1.05 and a current ratio of 1.05. The firm has a market cap of $38,930.00, a PE ratio of 11.36, a P/E/G ratio of 0.57 and a beta of 1.37.

Blackstone Group (NYSE:BX) last posted its quarterly earnings data on Thursday, October 19th. The asset manager reported $0.69 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.14. Blackstone Group had a net margin of 22.88% and a return on equity of 19.71%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.39 billion. During the same quarter in the prior year, the business posted $0.57 earnings per share. Blackstone Group’s revenue was up 21.4% compared to the same quarter last year. analysts expect that Blackstone Group will post 2.78 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in BX. Jacobi Capital Management LLC acquired a new position in shares of Blackstone Group in the second quarter valued at approximately $116,000. Wealthcare Advisory Partners LLC acquired a new stake in Blackstone Group during the 3rd quarter valued at approximately $131,000. Omnia Family Wealth LLC increased its position in Blackstone Group by 0.5% during the 2nd quarter. Omnia Family Wealth LLC now owns 4,020 shares of the asset manager’s stock valued at $134,000 after purchasing an additional 20 shares during the period. Pathstone Family Office LLC acquired a new stake in Blackstone Group during the 2nd quarter valued at approximately $167,000. Finally, Peddock Capital Advisors LLC acquired a new stake in Blackstone Group during the 2nd quarter valued at approximately $187,000. 46.91% of the stock is owned by institutional investors.

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Blackstone Group Company Profile

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 Blackstone Group (NYSE:BX)

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