Earnings at the Forefront For The Blackstone Group LP
Apr 21 2017 by Joanne Wise
The Blackstone Group L.P. (NYSE:BX) shares climbs 1.55% to $30.06 on Wednesday.
Earnings per share (EPS) breaks down the profitability of the company on a single share basis, and for The Blackstone Group L.P. the EPS stands at 0.68 for the previous quarter, while the analysts predicted the EPS of the stock to be 0.64, suggesting the stock exceeded the analysts' expectations.
A number of brokerages have recently commented on BX.
World's largest alternative assets management firm Blackstone recorded its best ever second quarter and first half performance in terms of economic net income (ENI) and. Israel Discount Bank of New York GFN bought a new position in Blackstone Group during the fourth quarter worth about $135,000. Partnervest Advisory Services LLC now owns 11,905 shares of the asset manager's stock worth $304,000 after buying an additional 3,476 shares during the period. Brick & Kyle Associates raised its stake in Blackstone Group by 14.7% in the third quarter. Blackstone plans to pay stockholders a dividend of 87 cents a share on May 8, its second-highest distribution. Wagner Bowman Management Corp now owns 13,322 shares of the company's stock worth $340,000 after buying an additional 1,150 shares during the period. Finally, Partnervest Advisory Services LLC increased its position in shares of Blackstone Group by 41.2% in the third quarter. The company's institutional ownership is monitored at 85.9 percent.
Blackstone Group LP (NYSE:BX) posted its quarterly earnings results on Thursday.
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After a recent look, shares have been seen 12.01% from the 200-day moving average, and 1.46% from the 50-day moving average. The Blackstone Group L.P. has $49 highest and $26 lowest target.
With the recent move, the stock now boasts a market cap of 35968.29and a beta of 1.35. This is according to the analysts polled by Thomson Reuters which have recently published research reports on the firm. Blackstone Group had a net margin of 20.08% and a return on equity of 15.59%. During the same quarter previous year, the firm earned $0.31 EPS. Blackstone Group accounts for approximately 2.1% of Renaissance Investment Group LLC's portfolio, making the stock its 23rd largest position. If you are reading this piece on another site, it was stolen and reposted in violation of global copyright legislation. The legal version of this article can be read at https://baseballnewssource.com/markets/renaissance-investment-group-llc-acquires-14894-shares-of-blackstone-group-lp-bx-updated/567876.html. Finally, Zacks Investment Research downgraded shares of Blackstone Group from a "buy" rating to a "hold" rating in a research report on Tuesday, January 31st. Credit Suisse Group AG set a $37.00 target price on Blackstone Group and gave the company a "buy" rating in a research note on Monday, January 2nd. The stock had a trading volume of 3,021,279 shares. Also, insider John G. Finley sold 20,000 shares of the business's stock in a transaction on Wednesday, February 15th. Zacks Investment Research lowered Blackstone Group from a "buy" rating to a "hold" rating in a report on Tuesday, January 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. The stock now has an average rating of "Buy" and an average price target of $32.77. Its real estate business posted an 86 percent rise in ENI, and its opportunistic real estate funds appreciated by 5.7 percent. The stock had previously closed at $29.15, but opened at $30.06. Following the transaction, the insider now directly owns 161,556 shares in the company, valued at approximately $4,963,000.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Goodman Bennett J sold $19.22M worth of stock. The shares were sold at an average price of $30.72, for a total value of $614,400.00. Insiders own 1.00% of the company's stock.
The Blackstone Group L.P. (BX) belongs to the "Financial" sector with an industry focus on "Asset Management", with Mr. Stephen Allen Schwarzman as Co-Founder, Chairman and Chief Exec. Officer.
These private equity and real estate sales helped fuel $1.23bn of distributable earnings, which reflect cash profits on asset disposals and fund management fees, compared with $394.2m a year earlier.