Media stories about The Blackstone Group (NYSE:BX) have been trending somewhat positive this week, according to Accern Sentiment Analysis. The research group identifies negative and positive press coverage by analyzing more than 20 million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. The Blackstone Group earned a news sentiment score of 0.20 on Accern’s scale. Accern also assigned news coverage about the asset manager an impact score of 45.9879139737015 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Here are some of the media stories that may have effected Accern Sentiment’s rankings:
- Blackstone Said to Invest $123M in Hyderabad Office Projects (mingtiandi.com)
- Blackstone sees opportunity in India’s distress, to invest $150 million (economictimes.indiatimes.com)
- “Lunchbox” pavilion is casualty of Willis Tower’s mega-renovation (therealdeal.com)
- The Blackstone Group (BX) Lowered to “Buy” at Vetr (americanbankingnews.com)
- Blackstone is struggling to raise money for the massive, Saudi-backed infrastructure fund it trumpeted last year (msn.com)
A number of brokerages have commented on BX. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $42.00 price target on shares of The Blackstone Group in a research report on Thursday, February 1st. ValuEngine raised shares of The Blackstone Group from a “buy” rating to a “strong-buy” rating in a research report on Thursday, March 1st. UBS initiated coverage on shares of The Blackstone Group in a research report on Tuesday, March 27th. They set a “market perform” rating on the stock. Zacks Investment Research cut shares of The Blackstone Group from a “hold” rating to a “sell” rating in a research report on Monday, February 12th. Finally, JPMorgan Chase cut shares of The Blackstone Group from an “overweight” rating to a “hold” rating in a research report on Tuesday, February 6th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $39.90.
The Blackstone Group (NYSE:BX) last released its quarterly earnings data on Thursday, February 1st. The asset manager reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.04. The Blackstone Group had a net margin of 20.66% and a return on equity of 22.27%. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same quarter in the prior year, the firm earned $0.68 EPS. The business’s revenue was up 19.9% on a year-over-year basis. analysts anticipate that The Blackstone Group will post 3.11 earnings per share for the current fiscal year.
In related news, Vice Chairman J Tomilson Hill sold 53,037 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $34.01, for a total value of $1,803,788.37. Following the sale, the insider now owns 1,010,304 shares in the company, valued at approximately $34,360,439.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider John G. Finley sold 22,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $34.15, for a total transaction of $751,300.00. Following the completion of the sale, the insider now owns 133,003 shares in the company, valued at approximately $4,542,052.45. The disclosure for this sale can be found here. Insiders sold a total of 672,000 shares of company stock worth $23,130,874 in the last 90 days. 1.00% of the stock is currently owned by company insiders.
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About The Blackstone Group
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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