Blackstone Group (NYSE:BX) Given a $52.00 Price Target by Oppenheimer Analysts

Blackstone Group (NYSE:BX) has been assigned a $52.00 price target by research analysts at Oppenheimer in a research note issued on Friday, TipRanks reports. The brokerage currently has a “buy” rating on the asset manager’s stock. Oppenheimer’s price target suggests a potential upside of 7.00% from the stock’s current price. Oppenheimer also issued estimates for Blackstone Group’s Q2 2019 earnings at $0.52 EPS, Q3 2019 earnings at $0.65 EPS, Q3 2019 earnings at $0.66 EPS, Q4 2019 earnings at $0.68 EPS, Q4 2019 earnings at $0.67 EPS, FY2019 earnings at $2.28 EPS, FY2020 earnings at $3.09 EPS and FY2020 earnings at $3.05 EPS.

Several other brokerages have also issued reports on BX. JMP Securities assumed coverage on shares of Fiverr International in a research note on Monday, July 8th. They issued an “outperform” rating and a $33.00 price target on the stock. Citigroup set a $317.00 price target on shares of Mastercard and gave the company a “buy” rating in a research note on Friday. Morgan Stanley set a $620.00 price target on shares of Intuitive Surgical and gave the company a “buy” rating in a research note on Friday. Zacks Investment Research upgraded shares of Green Brick Partners from a “sell” rating to a “hold” rating in a research note on Thursday, April 25th. Finally, ValuEngine upgraded shares of Alleghany from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Blackstone Group presently has a consensus rating of “Buy” and a consensus target price of $47.22.

Shares of NYSE:BX traded up $0.76 during midday trading on Friday, reaching $48.60. 5,919,459 shares of the company were exchanged, compared to its average volume of 4,824,000. Blackstone Group has a fifty-two week low of $26.88 and a fifty-two week high of $48.72. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.98 and a current ratio of 0.98. The stock’s fifty day moving average price is $44.87. The firm has a market cap of $31.32 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 1.05 and a beta of 1.47.

Blackstone Group (NYSE:BX) last issued its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. Blackstone Group had a net margin of 20.51% and a return on equity of 11.28%. The business had revenue of $1.49 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the business posted $0.90 earnings per share. The firm’s quarterly revenue was down 43.5% on a year-over-year basis. As a group, analysts expect that Blackstone Group will post 2.21 earnings per share for the current year.

In other news, Director Bennett J. Goodman sold 115,000 shares of Blackstone Group stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $39.58, for a total value of $4,551,700.00. Following the completion of the transaction, the director now owns 250,000 shares of the company’s stock, valued at approximately $9,895,000. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Holdings L.P. Blackstone III acquired 120,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was purchased at an average cost of $24.22 per share, with a total value of $2,906,400.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 683,752 shares of company stock valued at $16,541,188. Insiders own 1.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in BX. Stony Point Wealth Management Inc. increased its position in Blackstone Group by 1.6% during the 2nd quarter. Stony Point Wealth Management Inc. now owns 41,452 shares of the asset manager’s stock worth $1,877,000 after purchasing an additional 659 shares in the last quarter. First Midwest Bank Trust Division raised its holdings in shares of Blackstone Group by 14.7% in the second quarter. First Midwest Bank Trust Division now owns 15,654 shares of the asset manager’s stock valued at $695,000 after purchasing an additional 2,010 shares during the last quarter. Meyer Handelman Co. raised its holdings in shares of Blackstone Group by 14.1% in the second quarter. Meyer Handelman Co. now owns 40,500 shares of the asset manager’s stock valued at $1,799,000 after purchasing an additional 5,000 shares during the last quarter. First National Trust Co purchased a new stake in shares of Blackstone Group in the second quarter valued at about $243,000. Finally, Field & Main Bank raised its holdings in shares of Blackstone Group by 1.9% in the second quarter. Field & Main Bank now owns 24,275 shares of the asset manager’s stock valued at $1,078,000 after purchasing an additional 450 shares during the last quarter. 47.16% of the stock is owned by institutional investors and hedge funds.

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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