Blackstone Inc. (NYSE:BX) Receives Average Analyst Rating of “Hold”

Blackstone Inc. Shares (NYSE: BXGet a rating) received a consensus rating of “Hold” from the thirteen brokerages that cover the business, market beat reports. Seven research analysts gave the stock a hold rating and six gave the company a buy rating. The 12-month average price target among analysts who have updated their coverage of the stock over the past year is $139.73.

Several research companies have recently weighed in on BX. Exane BNP Paribas downgraded Blackstone from an “outperform” rating to a “neutral” rating in a Thursday, April 7 research rating. BNP Paribas downgraded Blackstone from an “outperform” rating to a “neutral” rating and set a price target of $135.00 for the stock. in a research note on Thursday, April 7. Jefferies Financial Group reaffirmed a “buy” rating and posted a $155.00 price target on Blackstone shares in a research note on Wednesday, April 13. Bank of America raised its price target on Blackstone from $172.00 to $180.00 and gave the company a “buy” rating in a Friday, April 22 research note. Finally, Morgan Stanley cut its price target on Blackstone from $166.00 to $154.00 and set an “overweight” rating on the stock in a Wednesday, April 20 research note.

In other Blackstone news, major shareholder Holdings LP Blackstone III sold 52,900 shares of Blackstone in a deal that took place on Tuesday, March 1. The stock was sold at an average price of $61.23, for a total value of $3,239,067.00. The sale was disclosed in a filing with the Securities & Exchange Commission, available via this hyperlink. Additionally, major shareholder Tactical Opportunit Blackstone purchased 2,500,000 shares in a transaction on Friday, April 29. The shares were acquired at an average price of $4.00 per share, with a total value of $10,000,000.00. Following the completion of the acquisition, the insider now owns 26,839,187 shares of the company, valued at approximately $107,356,748. Disclosure of this purchase can be found here. In the past ninety days, insiders have bought 2,510,050 shares of the company worth $11,184,437 and sold 1,090,152 shares worth $66,040,454. 1.00% of the shares are held by insiders.

Hedge funds and other institutional investors have recently increased or reduced their stakes in the company. Bell Investment Advisors Inc bought a new stake in Blackstone stock during the third quarter valued at around $26,000. Financial Advantage Inc. purchased a new stake in shares of Blackstone during the first quarter valued at approximately $26,000. Western Pacific Wealth Management LP purchased a new equity stake in Blackstone during the fourth quarter valued at approximately $27,000. Landmark Wealth Management LLC purchased a new stake in Blackstone during the first quarter for $27,000. Finally, Providence Capital Advisors LLC increased its stake in Blackstone by 1,137.6% during the first quarter. Providence Capital Advisors LLC now owns 2,995 shares of the asset manager worth $31,000 after buying 2,753 additional shares in the last quarter. Hedge funds and other institutional investors own 63.68% of the company’s shares.

Shares of NYSE BX opened at $107.82 on Monday. The company has a debt ratio of 0.36, a quick ratio of 0.70 and a current ratio of 0.70. Blackstone has a 52-week low of $85.65 and a 52-week high of $149.78. The stock has a market capitalization of $75.55 billion, a P/E ratio of 14.69, a PEG ratio of 1.05 and a beta of 1.38. The stock’s fifty-day moving average is $114.63 and its 200-day moving average is $124.60.

Black stone (NYSE: BXGet a rating) last released its quarterly results on Thursday, April 21. The asset manager reported EPS of $1.55 for the quarter, beating analyst consensus estimates of $1.07 by $0.48. The company posted revenue of $5.13 billion for the quarter, versus $2.54 billion expected by analysts. Blackstone had a return on equity of 19.20% and a net margin of 23.77%. Blackstone’s revenue was down 3.3% year-over-year. In the same quarter last year, the company earned $0.96 per share. Equity research analysts expect Blackstone to post earnings per share of 5.71 for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 9. Investors of record on Monday, May 2 received a dividend of $1.32. This is a positive change from Blackstone’s previous quarterly dividend of $0.93. This represents a dividend of $5.28 on an annualized basis and a dividend yield of 4.90%. The ex-dividend date was Friday, April 29. Blackstone’s payout ratio is currently 71.93%.

Blackstone Company Profile (Get a rating)

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-class strategies of assets. The company generally invests in start-up companies. It also provides capital markets services.

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Analyst recommendations for Blackstone (NYSE: BX)

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