Blackstone Group (BX) Cut to “Buy” at Vetr

Vetr cut shares of Blackstone Group (NYSE:BX) from a strong-buy rating to a buy rating in a research report released on Monday. The brokerage currently has $35.50 target price on the asset manager’s stock.

BX has been the topic of a number of other research reports. Credit Suisse Group dropped their price objective on Blackstone Group from $46.00 to $45.00 and set an outperform rating on the stock in a report on Wednesday, August 30th. Zacks Investment Research raised Blackstone Group from a sell rating to a hold rating in a report on Monday, October 9th. Morgan Stanley upped their price objective on Blackstone Group from $40.00 to $41.00 and gave the stock an overweight rating in a report on Monday, October 23rd. Bank of America upped their price objective on Blackstone Group from $38.00 to $40.00 and gave the stock a buy rating in a report on Friday, October 20th. Finally, Oppenheimer reaffirmed a buy rating on shares of Blackstone Group in a report on Thursday, October 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $38.25.

Blackstone Group (BX) opened at $31.93 on Monday. Blackstone Group has a twelve month low of $26.65 and a twelve month high of $35.09. The firm has a market capitalization of $20,271.20, a price-to-earnings ratio of 11.56, a P/E/G ratio of 0.58 and a beta of 1.34. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.95.

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

Institutional investors have recently bought and sold shares of the business. Omnia Family Wealth LLC lifted its position in shares of Blackstone Group by 0.5% in the second quarter. Omnia Family Wealth LLC now owns 4,020 shares of the asset manager’s stock valued at $134,000 after acquiring an additional 20 shares in the last quarter. Mosaic Family Wealth LLC lifted its position in shares of Blackstone Group by 0.6% in the second quarter. Mosaic Family Wealth LLC now owns 7,108 shares of the asset manager’s stock valued at $237,000 after acquiring an additional 45 shares in the last quarter. Linscomb & Williams Inc. lifted its position in shares of Blackstone Group by 0.8% in the second quarter. Linscomb & Williams Inc. now owns 9,182 shares of the asset manager’s stock valued at $306,000 after acquiring an additional 69 shares in the last quarter. Gofen & Glossberg LLC IL lifted its position in shares of Blackstone Group by 1.3% in the second quarter. Gofen & Glossberg LLC IL now owns 8,450 shares of the asset manager’s stock valued at $282,000 after acquiring an additional 110 shares in the last quarter. Finally, Joel Isaacson & Co. LLC lifted its position in shares of Blackstone Group by 0.3% in the second quarter. Joel Isaacson & Co. LLC now owns 42,088 shares of the asset manager’s stock valued at $1,404,000 after acquiring an additional 143 shares in the last quarter. 46.91% of the stock is currently owned by institutional investors.

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About Blackstone Group

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.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Blackstone Group (NYSE:BX)

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