Blackstone Group (NYSE:BX) released its quarterly earnings results on Thursday. The asset manager reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.02, Briefing.com reports. Blackstone Group had a return on equity of 22.64% and a net margin of 22.12%. The business had revenue of $1.83 billion during the quarter, compared to analysts’ expectations of $1.79 billion. During the same period in the previous year, the business posted $0.69 earnings per share. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year.
NYSE:BX traded up $0.04 on Friday, hitting $35.34. 16,225 shares of the stock were exchanged, compared to its average volume of 4,925,254. The stock has a market capitalization of $24.08 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.11 and a beta of 1.32. Blackstone Group has a 52 week low of $29.57 and a 52 week high of $40.60. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.72.
A number of research analysts recently issued reports on the company. Zacks Investment Research cut Blackstone Group from a “buy” rating to a “hold” rating in a report on Friday, August 17th. Citigroup boosted their price objective on Blackstone Group from $41.50 to $43.00 and gave the stock a “buy” rating in a report on Friday, July 20th. JMP Securities boosted their price objective on Blackstone Group from $39.00 to $43.00 and gave the stock an “outperform” rating in a report on Monday, September 24th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $40.00 price objective on shares of Blackstone Group in a report on Friday, July 20th. Finally, Credit Suisse Group dropped their price objective on Blackstone Group from $48.00 to $47.00 and set an “outperform” rating for the company in a report on Friday, July 20th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $43.45.
Blackstone Group Company Profile
The Blackstone Group L.P. is a publicly owned hedge fund sponsor. The firm also provides financial advisory 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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