Blackstone (BX) to Release Quarterly Earnings on Thursday

Blackstone (NYSE:BX) will likely be announcing its earnings results before the market opens on Thursday, April 17th. Analysts expect the company to announce earnings of $1.22 per share and revenue of $2.95 billion for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

Blackstone (NYSE:BX) last announced its earnings results on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. On average, analysts expect Blackstone to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Blackstone Trading Up 2.5 %

Shares of NYSE:BX opened at $133.67 on Wednesday. The stock has a market capitalization of $97.50 billion, a PE ratio of 36.82, a price-to-earnings-growth ratio of 1.07 and a beta of 1.61. The company’s 50-day moving average price is $147.39 and its two-hundred day moving average price is $165.32. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.71. Blackstone has a one year low of $115.66 and a one year high of $200.96.

Blackstone Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were paid a $1.44 dividend. This represents a $5.76 dividend on an annualized basis and a yield of 4.31%. This is an increase from Blackstone’s previous quarterly dividend of $0.86. The ex-dividend date was Monday, February 10th. Blackstone’s dividend payout ratio (DPR) is currently 158.68%.

Insider Activity

In related news, Director Ruth Porat acquired 301 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was purchased at an average cost of $164.85 per share, with a total value of $49,619.85. Following the acquisition, the director now directly owns 36,829 shares of the company’s stock, valued at approximately $6,071,260.65. The trade was a 0.82 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Blackstone

A hedge fund recently raised its stake in Blackstone stock. Brighton Jones LLC increased its position in shares of Blackstone Inc. (NYSE:BX) by 34.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,917 shares of the asset manager’s stock after acquiring an additional 2,035 shares during the period. Brighton Jones LLC’s holdings in Blackstone were worth $1,365,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BX. Wells Fargo & Company decreased their target price on shares of Blackstone from $160.00 to $139.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 8th. BMO Capital Markets boosted their price objective on shares of Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Morgan Stanley reduced their price target on Blackstone from $222.00 to $150.00 and set an “overweight” rating for the company in a report on Monday. JMP Securities raised Blackstone from a “market perform” rating to a “market outperform” rating and set a $165.00 price objective for the company in a research report on Tuesday, April 8th. Finally, Bank of America decreased their target price on Blackstone from $219.00 to $207.00 and set a “buy” rating on the stock in a report on Friday, April 4th. Eleven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $155.72.

Blackstone Company Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.