Momentum Stock Watch: The Blackstone Group L.P. (BX)

Company Profile:

Blackstone (BX) is one of the world’s leading investment firms. Blackstone seeks to create positive economic impact and long-term value for its investors, the companies it invests in, and the communities in which it works. Blackstone does this by using extraordinary people and flexible capital to help companies solve problems. Blackstone’s asset management businesses, with approximately $440 billion in assets under management, include investment vehicles focused on private equity, real estate, public debt and equity, non-investment grade credit, real assets and secondary funds, all on a global basis. The Blackstone Group L.P. was founded in 1985 and is based in New York City, New York with additional offices in London, United Kingdom, Hong Kong, Baltimore, Maryland, Beijing, China, Copenhagen, Denmark, Dusseldorf, Germany, Los Angeles, California, Paris, France, San Francisco, California, Sao Paulo, Brazil, Singapore, Sydney, Australia, and Tokyo, Japan.

Recent News:

Blackstone Group LP reported an increase in third-quarter profit. Net income for the quarter climbed to $442.7 million, or 64 cents a share, from $377.9 million, or 55 cents a share, a year earlier. Blackstone said its assets under management were $456.69 billion, up from $387.45 billion a year earlier.

On Oct. 4, 2018, Blackstone (BX) announced that it has agreed to acquire Clarus, a leading global life sciences investment firm that has raised $2.6 billion since its founding. Clarus, with offices in the life sciences hubs of Boston and San Francisco, is focused on funding growth-stage investments, often in partnership with major biopharmaceutical companies through R&D collaborations.

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

BX’s strengths can be seen in its better growth, strong profitability and robust efficiency compared with its peers. Technical indicators signal the bullish signs, as there is a bullish crossover in MACD and Stochastic oscillator, the RSI stands at 48.24 with positive bias. We rate The Blackstone Group L.P. (BX) a STRONG BUY.