Blackstone Group (NYSE:BX) — This manager of private capital and provider of financial services is one of the largest of its kind in the world, with assets under management of over $166 billion.
The company reported Q4 earnings of $0.59, beating consensus estimates by more than 25%. An influx of money from bond liquidations into equity management may lead to record earnings for BX. Consensus earnings estimates have been increased since BX was first recommended in our Top Stocks to Buy for February list, from $2.11 to $2.20 in 2013, and $2.67 in 2014. The company pays an annual dividend of $1.68 for an 8.6% yield.
Technically, BX broke from a right triangle early in January with an impressive breakaway gap accompanied by very high volume. In late January, it began a consolidation pennant, and it broke from it on Thursday.
Buy BX at the market for a trade to $25. Long-term investors could very well see BX break its all-time high of over $30.