Strange to see recent BX loses attributed to Seaworld (even when BX has little stake in SEAS) when Seaworld fell hard, but now that seaworld is bouncing back, BX continues to head lower. What gives? I am currently holding BX calls.
I bought more today. Thanks - good board here. Also great stock to own long term (cashed out of my FTR, took profit to buy BX because I think BX has better dividends and better growth long term though a little more volatile - I see bigger gains and almost no downside at this point).
Agree. "WE" can't get here fast enough...especially given the week that BX has had...most unusual to say the least. Could be a a large holder unwinding a position. That's not a tragedy, it happens, may not necessarily be a a negative on BX but maybe they see better opportunities somewhere else. I don't!
Yeah, I definitely agree. Even SEAS was a gain of over 100% (thught that got very little air play). I honestly cannot tell what is going on here. Probably a good idea to hold your nose and buy some more, but that's a difficult thing to do sometimes. Time to forget about BX and start thinking about WE (weekend). Enjoy.
Blackstone Up to Strong Buy on Solid Q2 & Acquisitions
By Zacks Equity Research
8 minutes ago
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On Aug 22, Zacks Investment Research upgraded The Blackstone Group L.P. (BX) to a Zacks Rank #1 (Strong Buy).
Why the Upgrade?
Over the past few days, Blackstone entered into a number of acquisitions. Notably, this investment manager announced a deal to acquire 50% Haynesville assets of SWEPI LP and Shell Gulf of Mexico Inc., affiliates of Royal Dutch Shell plc (RDS.A) for $1.2 billion, thus marking its foray into the energy sector. Given the ever-increasing demand for energy and expected long-term investment benefits, we believe this deal will work in the company’s favor going forward.
Further, Blackstone is making investments in the European market, which is showing signs of recovery after a long period of sluggish growth. This could turn out to be favorable for the company in the future.
Impressive performance fees also drove Blackstone's second-quarter 2014 results reported on Jul 17. Economic net income (ENI) of $1.15 per share outpaced the Zacks Consensus Estimate by 64%. Also, the figure was up 85% from 62 cents earned in the prior-year quarter.
Organic growth was reflected in the quarter riding on higher revenues (up 57% year over year). Fee-earnings assets under management (AUM.TO) grew 19% from the year-ago quarter to $209.9 billion. Total AUM as of Jun 30, 2014 was $278.9 billion, up 21% year over year.
Blackstone has been witnessing rising earnings estimates over the last 30 days with a year-to-date return of 9.5%. Further, it has now delivered positive earnings surprises in three of the last four quarters with an average beat of 42.52%.
The Zacks Consensus Estimate for 2014 increased 3.2% to $3.84 per share, over the last 30 days. For 2015, the Zacks Consensus Estimate advanced around 1% to $3.53 per share over the same time period.
Other Stocks to Consider
Sentiment: Strong Buy
I have watched stocks for a long time,and have improved greatly in my returns over time. Average last 5 years is 29%, and my 1 year return is also 29%. I wondered why BX has fallen recently and I believe, aside from adjustments for dividends, it is probably profit taking. BX has almost doubled in a year. But it doubled for good reasons and the higher prices are justified. Yes I read the 10-Q. I think we will see strong support very soon and will be basing around the 50MDA if we get there. There could be an interested buyer trying to shake out loose hands, but I doubt it. BX is too liquid. I bought 500 shares yesterday. I think it could drop a little in the short term, but could turn around at any time. Interest rates are not much a concern to me with the 10 year at 2.3 (when I checked a day or 2 ago). If the Fed raises rates mid 2015, I expect they will still remain relatively at historic lows. Private equity environment is improving. BX could easily double again in the next 2 years. Even if it takes 3, there is also the 4% dividend to chew on in the meantime. Who the hell would sell it, unless they were in dire need of cash or had a better place to park their money for 2 years, but the latter is not very likely at least in the Financial sector.
And here's what it's worth: it will suck in some buyers and the share price will rise a little...and then the traders and players will effect another dump. Still long here...when the players want this to go up, it will go up like crazy. CASINO OPENS IN ONE MINUTE....