Blackstone (BX) to Release Quarterly Earnings on Thursday

Blackstone (NYSE:BX) will be announcing its earnings results before the market opens on Thursday, April 18th. Analysts expect the company to announce earnings of $1.00 per share for the quarter. Parties that wish to listen to the company’s conference call can do so using this link.

Blackstone (NYSE:BX) last announced its quarterly earnings data on Thursday, January 25th. The asset manager reported $1.11 EPS for the quarter, beating the consensus estimate of $0.95 by $0.16. Blackstone had a net margin of 17.34% and a return on equity of 17.30%. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $2.48 billion. During the same period in the previous year, the business earned $1.07 earnings per share. On average, analysts expect Blackstone to post $5 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Blackstone Trading Up 0.6 %

Shares of BX opened at $121.89 on Wednesday. The business’s fifty day moving average is $126.87 and its 200-day moving average is $117.60. The firm has a market cap of $87.11 billion, a price-to-earnings ratio of 66.61, a PEG ratio of 1.01 and a beta of 1.51. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.80 and a current ratio of 0.80. Blackstone has a 52-week low of $79.92 and a 52-week high of $133.56.

Blackstone Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 12th. Shareholders of record on Monday, February 5th were paid a dividend of $0.94 per share. This represents a $3.76 dividend on an annualized basis and a dividend yield of 3.08%. The ex-dividend date was Friday, February 2nd. This is a boost from Blackstone’s previous quarterly dividend of $0.80. Blackstone’s payout ratio is presently 205.46%.

Insider Activity at Blackstone

In other news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction that occurred on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total value of $27,853,407.60. Following the transaction, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of Blackstone stock in a transaction that occurred on Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total value of $27,853,407.60. Following the sale, the insider now owns 12,802 shares of the company’s stock, valued at approximately $142,102.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John G. Finley sold 49,000 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $127.93, for a total value of $6,268,570.00. Following the transaction, the insider now directly owns 393,143 shares in the company, valued at approximately $50,294,783.99. The disclosure for this sale can be found here. Insiders have sold a total of 2,587,168 shares of company stock valued at $37,816,476 over the last 90 days. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Blackstone

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Coppell Advisory Solutions LLC bought a new position in Blackstone in the 2nd quarter valued at $25,000. Ameritas Investment Partners Inc. purchased a new stake in shares of Blackstone in the 2nd quarter valued at $46,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Blackstone in the 3rd quarter valued at about $42,000. Quarry LP raised its holdings in Blackstone by 826.3% during the 2nd quarter. Quarry LP now owns 528 shares of the asset manager’s stock valued at $49,000 after buying an additional 471 shares during the last quarter. Finally, Worth Asset Management LLC purchased a new stake in shares of Blackstone during the first quarter worth about $77,000. 70.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BX has been the subject of a number of research reports. Morgan Stanley raised their price objective on shares of Blackstone from $120.00 to $144.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th. JMP Securities reissued a “market perform” rating on shares of Blackstone in a research note on Tuesday, April 9th. Piper Sandler reduced their price target on Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 10th. TheStreet downgraded shares of Blackstone from a “b” rating to a “c+” rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Company lifted their target price on shares of Blackstone from $127.00 to $130.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $119.92.

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.