Blackstone Group LP (BX)

BX (NYSE:Financial Services) EQUITY
neg -0.03
Today's Range: 26.44 - 26.88 | BX Avg Daily Volume: 4,704,000
Last Update: 05/06/16 - 1:23 PM EDT
Volume: 1,182,344
YTD Performance: -8.48%
Open: $26.49
Previous Close: $26.76
52 Week Range: $22.31 - $43.66
Oustanding Shares: 1,190,976,817
Market Cap: 31,668,073,564
6-Month Chart
TheStreet Ratings Grade for BX
Buy Hold Sell
A+ A A- B+ B B- C+ C C- D+ D D- E+ E E- F
TheStreet Ratings is the source for accurate ratings that you can rely upon to make sound, informed financial decisions. Click here to find out about our methodology.
Analysts Ratings
Historical Rec Current 1 Mo. Ago 2 Mo. Ago 3 Mo. Ago
Strong Buy 7 7 8 8
Moderate Buy 2 3 3 3
Hold 3 3 2 2
Moderate Sell 0 0 0 0
Strong Sell 0 0 0 0
Mean Rec. 1.63 1.65 1.50 1.50
Latest Dividend: 0.28
Latest Dividend Yield: 7.97%
Dividend Ex-Date: 04/28/16
Price Earnings Ratio: 15.73
Price Earnings Comparisons:
BX Sector Avg. S&P 500
15.73 43.80 12.90
Price Performance History (%Change):
3 Mo 1 Yr 3 Y
1.10% -36.71% 23.03%
Revenue -39.60 0.10 0.04
Net Income -56.00 1.00 0.25
EPS -76.90 1.70 0.39
Earnings for BX:
Revenue 4.81B
Average Earnings Estimates
Qtr (06/16) Qtr (09/16) FY (12/16) FY (12/17)
Average Estimate $0.62 $0.62 $2.24 $3.04
Number of Analysts 6 5 8 8
High Estimate $0.74 $0.84 $2.72 $3.56
Low Estimate $0.37 $0.18 $1.28 $2.68
Prior Year $0.43 $-0.35 $1.82 $2.24
Growth Rate (Year over Year) 43.41% 276.00% 23.35% 35.52%
Chart Benchmark
Average Frequency Timeframe
Indicator Chart Scale  
Symbol Comparison Bollinger Bands
I love conference calls with the executives of the leading private equity firms.
Three top execs gave their views this week at a New York conference.
In a paperless and cloudy world, are we as investors and citizens as safe as the markets assume we are? In a flat, networked and interconnected world, is it even possible for America to be an "oasis of prosperity" and a driver or engine of global economic growth? With the G-8's geopolitical coordination at an all-time low, how slow and inept will the reaction be if the wheels do come off? Let's ask several additional questions this morning: What is the "message" of negative interest rates, and what's their long-term impact on growth? If markets correct downward and stay there for some time, how much of a "negative wealth effect" will we see, and what will the social impact of a "trickling down" be? What additional policies will it take to produce "escape velocity" and self-sustaining growth for the U.S. economy? How much business activity has been "pulled forward" by interest rates remaining so low for so long? Are there uncovered areas of malinvestment that will soon surface? How low might profit margins fall given the possibility of higher corporate-tax rates, a normalization of interest rates and the likelihood of accelerated wage growth? What's the value of a dollar's worth of earnings in a deflationary backdrop of negative interest rates and limited business-pricing power? Will the quants grow into an even more dominant factor in the market? Does this raise the probability of a market "accident" or major "flash crash"? As New York Times columnist David Brooks recently suggested, is the Republican Party about to recast itself? What would the fallout be for markets if America winds up with a three-party system? And let's add one more important question that keeps me up at night regarding the possibility of a major European bank failing (Deutsche Bank (DB) or any major French or Italian financial institution comes to mind). Such a collapse could represent a "blind-side hit" for the global financial system. Consider the fact that all of the European Union's sovereign debt currently carries a zero-risk weighting. EU banks would need to raise huge amounts of capital should that change, even though financial firms are already struggling at a time when interest rates are materially negative. Could we even contemplate the economic ramifications of how Italy, Spain and France would struggle to survive amid ballooning budget deficits if borrowing costs rose substantially? The Bottom Line "Times have changed And we've often rewound the clock Since the Puritans got a shock When they landed on Plymouth Rock. If today Any shock they should try to stem 'Stead of landing on Plymouth Rock, Plym
Move clears the way for Marriott to complete its purchase of Starwood. 
Former EOG executive launches focused energy fund.

Peak Hedge Funds Real Money Pro($)

I'm back in the saddle!

My Takeaways and Observations Real Money Pro($)

The markets closed off their highs as the potency of dovish central bankers may be wearing off. Today, bad news -- namely, weakening global economic growth -- was good news, and for now, shorts are "offsides." Pavlov's dogs and the algos took hold in a positive response to the Fed remarks. Fed Day -- an upbeat response to more dovish comments, which already had been discounted in the futures market. Fed lowers economic expectations -- a different view from one-and-a-half months ago -- and the august institution continues to look for reasons not to hike interest rates. Remember, the Fed's record of projecting domestic economic growth stinks. The Fed responded to what the markets already knew and had previously priced in. Yellen and her Fed are losing credibility. Stated simply, the Fed is suggesting its previous inflation thresholds and targets are B.S. From my perch, stagflation lies ahead; that is not market-friendly, and it could be disruptive. The U.S. dollar weakened -- the intent of the Fed, which recently couldn't weaken the dollar in the face of non-U.S. monetary ease. Crude oil rose by $2.09 to $38.43. Nat gas was two pennies higher. Energy stocks, a target of my shorting, were quite disappointing, with a few penny gains for Schlumberger (SLB) and Exxon Mobil (XOM). Gold rose by $30 to $1,261. Agricultural commodities: wheat -6.25, corn -0.75, soybeans +2.00 and oats +1.50. Bonds close modestly higher. iShares 20+ Year Treasury Bond ETF (TLT) was up 41 cents. The 10-year yield dropped by three basis points, but the long bond was unchanged. The yield curve steepened. Municipals were bid higher, but not materially so. High yield was strong. Blackstone/GSO Strategic Credit Fund (BGB) and credit are benefiting from "lower for longer," rising by 18 cents to $13.53. Giddy up! (BGB is up 12% from January lows.) Banks suffered from the Fed's statement, but the stocks rallied off their lows. I bought at those lows. Brokerages are moribund, but private equity was better. Blackstone Group (BX) was up 70 cents. Life insurance, the subject of my recent disaffection, was an underperformer. I plan to short more Lincoln National (LNC) and MetLife (MET) in the days ahead. But Best Ideas List long Hartford Financial Services Group (HIG) was a standout on the upside (merger optionality!).  Oaktree Capital Group (OAK) traded better, up 70 cents. Old tech was weak, save IBM (IBM), which was up $1. Retail uneventful and disappointing. Biotech was down slightly. The downside was led by Allergan (AGN), which was down another $10 a share. (T)FANG was relatively weak, too. Tesla (TSLA) and Alphabet (GOOGL) were higher. My Biotech Basket continued to sag. NOSH not so tasty. CRABBY was good, highlighted by BGB's strength. My Trade of the Week -- shorting Nasdaq through ProShares Short QQQ (PSQ), ProShares UltraShort QQQ (QID) and ProShares UltraPro Short QQQ (SQQQ) -- stunk up the place today. Twitter (TWTR) had a dead-cat bounce of 50 cents. Jabil Circuit (JBL) misses after the close and produces very weak guidance. It down 7% after hours. I added a new short today, Coca-Cola (KO), based on a U.K. sugar tax announced by Chancellor Osbourne.  I added to banks on this afternoon's weakness.  Some good stuff on RealMoneyPro today: Jim "El Capitan" Cramer likes the Fed's move.  Gary Morrow on Goldman Sachs' (GS) share price outlook. Gary looks for a lower price on technical grounds; I sold the stock for fundamental reasons. Ben Cross on the high-yield market (something close to my heart!)  RevShark on how the market loves to love the Fed.  Chris Versace
Bad fundamental news today for Credit Suisse (CS), Deutsche Bank (DB) and UBS (UBS) might to be unexpected, but should weigh on financials today. (Click here, here and here for a rundown of what the three banks are facing.)

Columnist Conversations

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