Blackstone Inc. (NYSE:BX – Get Free Report) has earned an average rating of “Moderate Buy” from the twenty-four brokerages that are presently covering the firm, MarketBeat Ratings reports. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $147.9524.
BX has been the subject of a number of recent analyst reports. Weiss Ratings upgraded Blackstone from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 24th. Barclays lifted their price target on shares of Blackstone from $119.00 to $128.00 and gave the company an “equal weight” rating in a research note on Friday, July 24th. Zacks Research upgraded shares of Blackstone from a “strong sell” rating to a “hold” rating in a research report on Monday, June 8th. Royal Bank Of Canada lifted their target price on shares of Blackstone from $161.00 to $169.00 and gave the company an “outperform” rating in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. cut their target price on shares of Blackstone from $136.00 to $132.00 and set a “neutral” rating for the company in a research note on Thursday, July 16th.
View Our Latest Stock Report on Blackstone
Insiders Place Their Bets
Institutional Trading of Blackstone
Hedge funds have recently bought and sold shares of the business. Strive Asset Management LLC purchased a new stake in shares of Blackstone in the third quarter valued at approximately $30,000. Ares Financial Consulting LLC acquired a new position in Blackstone during the fourth quarter worth $28,000. Kelleher Financial Advisors purchased a new stake in Blackstone in the 3rd quarter valued at $34,000. Palladiem LLC purchased a new position in shares of Blackstone during the 4th quarter worth $31,000. Finally, Entrust Financial LLC acquired a new position in shares of Blackstone during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 70.00% of the company’s stock.
Blackstone Trading Down 3.6%
Shares of Blackstone stock opened at $143.94 on Thursday. Blackstone has a fifty-two week low of $101.73 and a fifty-two week high of $190.09. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.72. The company has a market cap of $108.04 billion, a P/E ratio of 32.20, a price-to-earnings-growth ratio of 1.60 and a beta of 1.56. The firm has a 50-day simple moving average of $126.51 and a two-hundred day simple moving average of $122.70.
Blackstone (NYSE:BX – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.34 by $0.18. The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. Blackstone had a return on equity of 23.77% and a net margin of 21.84%.Blackstone’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.98 EPS. As a group, equities analysts predict that Blackstone will post 6 earnings per share for the current fiscal year.
Blackstone Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, August 10th. Shareholders of record on Monday, August 3rd were issued a dividend of $1.29 per share. The ex-dividend date of this dividend was Monday, August 3rd. This is an increase from Blackstone’s previous quarterly dividend of $1.16. This represents a $5.16 dividend on an annualized basis and a dividend yield of 3.6%. Blackstone’s payout ratio is currently 115.44%.
About Blackstone
Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.
Blackstone’s business is organized around several principal investment platforms.
See Also
- Five stocks we like better than Blackstone
- Is Best Buy the AI Winner Hiding in the Electronics Aisle?
- Applied Materials Beat Everything but Wall Street’s Expectations for Margins
- Back From Orbit, Intuitive Machines’ Share Price Enters the Buy Zone
- Texas Roadhouse and Brinker International Have the Recipe Rivals Are Missing
Receive News & Ratings for Blackstone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone and related companies with MarketBeat.com's FREE daily email newsletter.
