Positive Outlook For The Blackstone Group L.P. (NYSE:BX)


Dallas, Texas 10/24/2013 (Financialstrend) – The Blackstone Group L.P. (NYSE:BX) is a leading manager of private capital and provider of financial advisory services. They are one of the largest independent managers of private capital in the world with a market capitalization of $16.12 billion.  They also provide financial advisory services which include corporate investments and mergers and acquisitions. It also helps in organizations go through restructuring and reorganization by offering its consultancy services. Its services also include fund placement services.

The stock has had a tremendous run over the last year or so. It has gained 86% in the past one year. There has been positive news flowing in around the management control and oversight functionalities which in turn had a positive impact on the stock price. Blackstone is considered to be one of the most promising players in mortgage market, and is expected to benefit from the rebound which is happening in the housing market.

 Blackstone in the recent past has also expanded its operation into the emerging markets of Asia and has established itself as a significant player in China. The company feels China will offer long-term opportunities mainly in providing consultancy services to the government’s economic management programs, after a recent economic slowdown proved milder than many analysts had forecast.

 The stock has gained more than 85% year to date which is a significant gain for its shareholders. Blackstone ended the day at $27.61 down by -$0.92 (-3.22%) from previous day close.

Analysts believe that the long term outlook of the company is positive and one can witness fresh highs in the near future. Also, most of the analysts have a buy call on this stock with a price target of $29.4 per share. In the past one year the stock has paid out dividend of $0.92 per share which translates to a 3.33% dividend yield for the year.