Blackstone Group LP (NYSE:BX) has grabbed the attention from analysts, when it saw a value increase of 2.62 percent in the last trading session. A total of 12.14 million shares exchanged hands during the intra-day trade compared with its average trading volume of 3.72 million shares.
When taking a look at recommendations from analysts, investors can use the average brokerage recommendation score to determine the consensus take on a stock. The ABR is the calculated average of the actual recommendations (strong buy, hold, sell etc) made by the brokerage firms for a given stock. The ABR rank is displayed in the range of 1 to 5 where 1 represents a Strong Buy and 5 a Strong Sell. The ABR is solely based on brokerage recommendations. It's important to note that analysts employed by brokerage firms have been and continue to be overly optimistic with their recommendations. Shares of Blackstone Group LP (NYSE:BX) currently have an ABR of 1.63, number of Recs in ABR is 12 while industry rank of the company by ABR is 204 of 265.
Out of the brokerage recommendations 7 rate Blackstone Group LP (NYSE:BX) stock a Strong Buy, 2 rate the stock a Buy, 3 rate Hold, 0 rate Sell and 0 recommend a Strong Sell. According to data provided by Zacks investment research.
On a consensus basis, the sell-side has a one year price target of $34.27 on the stock. The most aggressive analyst sees the stock reaching $49.00 while the most conservative has a $28.00 target price. The mean price target is calculated keeping in view the consensus of 15 brokerage firms.
Analysts who have weighed in on projected earnings growth are expecting that the company will report earnings of $0.64 for the current quarter on or around 7/21/16 however the company's high EPS estimates are $0.95 and low estimates are $0.37. Previously the company reported $0.31 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.37 by $-0.06. The company posted an earnings surprise of -16.20%.
Blackstone Group LP (NYSE:BX) on May 18, 2016 announced that Steve Plavin, President and Chief Executive Officer, will present at the Keefe, Bruyette amp; Woods 2016 Mortgage Finance Conference in New York, NY on Wednesday, June 1, 2016 at 11:20 am ET.
The Blackstone Group LP is a publicly owned investment manager. 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. The firm manages separate client focused portfolios. It launches and manages private equity funds, real estate funds, funds of hedge funds, and credit-focused funds for its clients. It invests in private equity, public equity, fixed income, and alternative investment markets. The firm was founded in 1985 and is based in New York, New York.
This article is informational purposes only and should not be considered a recommendation to buy or sell the stock.