Blackstone (BX) Scheduled to Post Earnings on Thursday

Blackstone (NYSE:BX) is set to post its quarterly earnings results before the market opens on Thursday, October 17th. Analysts expect Blackstone to post earnings of $1.07 per share for the quarter. Individual that wish to register for the company’s earnings conference call can do so using this link.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, July 18th. The asset manager reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.03). The firm had revenue of $3.69 billion for the quarter, compared to analysts’ expectations of $2.58 billion. Blackstone had a net margin of 19.35% and a return on equity of 17.43%. The business’s quarterly revenue was up 166.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.93 EPS. On average, analysts expect Blackstone to post $4 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Blackstone Stock Performance

Shares of BX opened at $155.49 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.77 and a current ratio of 0.77. The company has a market capitalization of $111.12 billion, a price-to-earnings ratio of 54.94, a PEG ratio of 1.24 and a beta of 1.51. The company’s 50 day simple moving average is $144.24 and its 200 day simple moving average is $132.31. Blackstone has a 1 year low of $88.59 and a 1 year high of $161.25.

Blackstone Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Monday, July 29th were paid a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 2.11%. The ex-dividend date was Monday, July 29th. Blackstone’s payout ratio is 115.90%.

Insider Buying and Selling at Blackstone

In other news, Director Joseph Baratta sold 116,448 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total value of $17,561,522.88. Following the completion of the sale, the director now directly owns 799,749 shares of the company’s stock, valued at approximately $120,610,146.69. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider John G. Finley sold 35,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $131.74, for a total value of $4,610,900.00. Following the sale, the insider now directly owns 429,386 shares in the company, valued at $56,567,311.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Baratta sold 116,448 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $150.81, for a total transaction of $17,561,522.88. Following the sale, the director now owns 799,749 shares in the company, valued at $120,610,146.69. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BX. Evercore ISI lifted their price target on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a report on Monday. The Goldman Sachs Group lifted their price target on shares of Blackstone from $130.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, October 3rd. Barclays lifted their price target on shares of Blackstone from $141.00 to $155.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. Bank of America raised their target price on shares of Blackstone from $130.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, July 19th. Finally, Piper Sandler downgraded shares of Blackstone from an “overweight” rating to a “neutral” rating and set a $149.00 target price on the stock. in a research note on Wednesday, October 9th. Twelve equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $136.18.

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.