Blackstone Inc. (NYSE:BX – Get Free Report) has been given an average rating of “Moderate Buy” by the eighteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Nine investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $155.65.
A number of research firms recently issued reports on BX. Bank of America lowered their price objective on shares of Blackstone from $219.00 to $207.00 and set a “buy” rating for the company in a research report on Friday, April 4th. Cowen reiterated a “buy” rating on shares of Blackstone in a research report on Monday, April 21st. Morgan Stanley lowered their price objective on shares of Blackstone from $222.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Citigroup decreased their price target on shares of Blackstone from $190.00 to $137.00 and set a “neutral” rating for the company in a research report on Tuesday, April 8th. Finally, Barclays upped their price target on shares of Blackstone from $129.00 to $136.00 and gave the company an “equal weight” rating in a research report on Monday, April 21st.
View Our Latest Analysis on BX
Insider Transactions at Blackstone
Institutional Investors Weigh In On Blackstone
A number of large investors have recently bought and sold shares of the stock. Lord Abbett & CO. LLC bought a new position in shares of Blackstone in the fourth quarter valued at $63,109,000. Parallel Advisors LLC lifted its stake in shares of Blackstone by 6.6% in the first quarter. Parallel Advisors LLC now owns 31,212 shares of the asset manager’s stock valued at $4,363,000 after buying an additional 1,943 shares in the last quarter. Comprehensive Money Management Services LLC bought a new position in shares of Blackstone in the fourth quarter valued at $1,747,000. Vanguard Group Inc. lifted its stake in shares of Blackstone by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 66,894,632 shares of the asset manager’s stock valued at $11,533,972,000 after buying an additional 889,286 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Blackstone by 0.8% in the fourth quarter. Commonwealth Equity Services LLC now owns 716,319 shares of the asset manager’s stock valued at $123,508,000 after buying an additional 5,951 shares in the last quarter. 70.00% of the stock is currently owned by institutional investors and hedge funds.
Blackstone Stock Performance
Shares of Blackstone stock opened at $138.06 on Friday. The company has a 50 day moving average of $136.88 and a 200-day moving average of $155.02. Blackstone has a 1-year low of $115.66 and a 1-year high of $200.96. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. The company has a market cap of $100.73 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 1.07 and a beta of 1.65.
Blackstone (NYSE:BX – Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The asset manager reported $1.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.13). The company had revenue of $2.76 billion for the quarter, compared to analyst estimates of $2.95 billion. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. During the same quarter in the prior year, the company earned $0.98 earnings per share. As a group, equities research analysts forecast that Blackstone will post 5.87 earnings per share for the current fiscal year.
Blackstone Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Monday, April 28th were given a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Monday, April 28th. Blackstone’s dividend payout ratio (DPR) is presently 112.05%.
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.
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