This article was first published on www.analystratings.com
Currently, the analyst consensus on Blackstone Group is Strong Buy and the average price target is $47, representing a 21.6% upside. In a report issued on August 11, Goldman Sachs also assigned a Buy rating to the stock with a $43 price target.
Based on Blackstone Group`s latest earnings report from June 30, the company posted quarterly revenue of $1.31B and quarterly net profit of $134.2M. In comparison, last year the company earned revenue of $2.4B and had a net profit of $517M.
Financial bloggers on sites such as SeekingAlpha, wsobserver.com and others, seem to have a Positive view on BX. When evaluating the opinions of financial bloggers over the last 3 months, 92% of bloggers have indicated a Bullish sentiment, while 8% have indicated a Bearish sentiment. The average blogger Bullish sentiment in the Financial sector is 69% which is less positive than the blogger sentiment of BX.
Unlike Deutsche Bank`s latest rating, based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is neutral on the stock. Last month, Laurence Tosi, a the Chief Financial Officer of BX sold 26,184 shares for a total of $1,014,630.
According to TipRanks.com, Bedell is a 4-star analyst with an average return of 5.1% and a 64.9% success rate. Bedell covers the Financial sector, focusing on stocks such as Intercontinental Exchange, Oaktree Capital Group Llc, and Affiliated Managers.
Blackstone Group LP is an alternative asset manager. It also provides financial advisory services, including corporate and mergers and acquisitions advisory, restructuring and reorganisation advisory and fund placement services.