Blackstone (BX) Set to Announce Earnings on Thursday

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

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

Blackstone Stock Performance

Shares of BX stock opened at $121.89 on Wednesday. The stock has a market cap of $87.11 billion, a PE ratio of 66.61, a P/E/G ratio of 1.01 and a beta of 1.51. Blackstone has a 1 year low of $79.92 and a 1 year high of $133.56. The stock has a fifty day moving average price of $126.87 and a 200 day moving average price of $117.60. 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 Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. UBS Group upped their price objective on shares of Blackstone from $135.00 to $138.00 and gave the company a “neutral” rating in a research note on Friday, April 12th. JPMorgan Chase & Co. raised their price objective on Blackstone from $91.00 to $96.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Piper Sandler cut their target price on shares of Blackstone from $150.00 to $146.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 10th. TheStreet lowered Blackstone from a “b” rating to a “c+” rating in a research note on Thursday, January 25th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Blackstone in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $119.92.

Insider Transactions at Blackstone

In other Blackstone news, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the business’s stock in a transaction on Sunday, March 3rd. The stock was sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the completion of the transaction, the insider now owns 12,802 shares in the company, valued at approximately $142,102.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider John G. Finley sold 49,000 shares of Blackstone stock in a transaction on Thursday, February 8th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 2,509,316 shares of the company’s stock in a transaction dated Sunday, March 3rd. The shares were sold at an average price of $11.10, for a total transaction of $27,853,407.60. Following the sale, the insider now directly owns 12,802 shares of the company’s stock, valued at $142,102.20. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,587,168 shares of company stock worth $37,816,476. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Blackstone

Several hedge funds have recently made changes to their positions in BX. RMB Capital Management LLC grew its stake in Blackstone by 1.9% during the 4th quarter. RMB Capital Management LLC now owns 4,531 shares of the asset manager’s stock valued at $593,000 after acquiring an additional 86 shares in the last quarter. Childress Capital Advisors LLC increased its stake in Blackstone by 6.8% in the 4th quarter. Childress Capital Advisors LLC now owns 1,788 shares of the asset manager’s stock valued at $234,000 after buying an additional 114 shares during the period. Empire Financial Management Company LLC boosted its stake in shares of Blackstone by 1.6% during the 4th quarter. Empire Financial Management Company LLC now owns 7,187 shares of the asset manager’s stock valued at $941,000 after buying an additional 115 shares during the period. Kensington Investment Counsel LLC increased its stake in shares of Blackstone by 2.0% in the fourth quarter. Kensington Investment Counsel LLC now owns 5,812 shares of the asset manager’s stock worth $761,000 after acquiring an additional 116 shares during the last quarter. Finally, Stonebridge Capital Advisors LLC increased its position in Blackstone by 7.2% in the 4th quarter. Stonebridge Capital Advisors LLC now owns 1,778 shares of the asset manager’s stock worth $132,000 after purchasing an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 70.00% of the company’s stock.

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.