Blackstone (NYSE:BX) Given New $139.00 Price Target at Oppenheimer

Blackstone (NYSE:BX) had its target price cut by Oppenheimer from $156.00 to $139.00 in a research note published on Friday morning,Benzinga reports. They currently have an outperform rating on the asset manager’s stock.

A number of other equities research analysts also recently commented on the company. HSBC reduced their target price on Blackstone from $164.00 to $131.00 and set a “hold” rating for the company in a report on Friday, April 10th. Barclays lowered their target price on shares of Blackstone from $124.00 to $119.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 9th. Evercore reiterated an “outperform” rating and set a $150.00 price target on shares of Blackstone in a research report on Tuesday, April 21st. Dbs Bank upgraded Blackstone to a “moderate buy” rating in a report on Wednesday, May 27th. Finally, Morgan Stanley decreased their target price on Blackstone from $215.00 to $184.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 21st. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $145.52.

Blackstone Stock Performance

Shares of Blackstone stock opened at $126.96 on Friday. Blackstone has a one year low of $101.73 and a one year high of $190.09. The business has a 50-day simple moving average of $119.92 and a 200-day simple moving average of $125.90. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.76 and a current ratio of 0.76. The company has a market cap of $94.32 billion, a PE ratio of 32.47, a P/E/G ratio of 1.39 and a beta of 1.58.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, April 23rd. The asset manager reported $1.36 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.02. Blackstone had a return on equity of 22.86% and a net margin of 20.67%.The company had revenue of $3.43 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter in the previous year, the business earned $1.11 earnings per share. The firm’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, equities research analysts forecast that Blackstone will post 5.89 EPS for the current fiscal year.

Blackstone Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Monday, May 4th were issued a $1.16 dividend. The ex-dividend date of this dividend was Monday, May 4th. This represents a $4.64 annualized dividend and a dividend yield of 3.7%. Blackstone’s payout ratio is 118.67%.

Insider Buying and Selling

In other news, major shareholder Treasury Holdings I. Blackstone bought 9,486,795 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were purchased at an average price of $20.00 per share, with a total value of $189,735,900.00. Following the completion of the acquisition, the insider directly owned 9,111,800 shares in the company, valued at approximately $182,236,000. This trade represents a -2,529.85% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Vikrant Sawhney sold 30,014 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $125.79, for a total transaction of $3,775,461.06. Following the sale, the insider directly owned 899,669 shares of the company’s stock, valued at approximately $113,169,363.51. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have acquired 10,252,345 shares of company stock valued at $209,789,893 in the last ninety days. Insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On Blackstone

A number of institutional investors have recently made changes to their positions in BX. Strive Asset Management LLC bought a new stake in Blackstone in the 3rd quarter valued at $30,000. Family CFO Inc acquired a new stake in Blackstone during the fourth quarter worth about $28,000. Ares Financial Consulting LLC bought a new position in Blackstone during the fourth quarter valued at about $28,000. Richardson Financial Services Inc. bought a new stake in shares of Blackstone in the 4th quarter worth approximately $29,000. Finally, Kelleher Financial Advisors acquired a new stake in shares of Blackstone during the 3rd quarter worth approximately $34,000. 70.00% of the stock is currently owned by institutional investors.

Key Stories Impacting Blackstone

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone is expanding its alternatives platform in Asia-Pacific by launching a new India infrastructure platform and hiring Ami Momaya from KKR to lead the effort, a move that could support long-term growth in the region. Blackstone creates new APAC infrastructure platform, hires Momaya from KKR
• Positive Sentiment: Blackstone is also tied to the launch of Ode, an AI services company developed with Anthropic and other investors, which reinforces the firm’s exposure to AI and infrastructure investing themes. Is Blackstone (BX) Quietly Rewriting Its AI and Infrastructure Playbook With Ode and India?
• Positive Sentiment: Several commentary pieces say Blackstone remains positioned to beat upcoming earnings estimates, with Wall Street expecting earnings growth and the company cited for strong earnings and price momentum. Why Blackstone Inc. (BX) is Poised to Beat Earnings Estimates Again
• Neutral Sentiment: JPMorgan lowered its price target on Blackstone to $132 from $136 but kept a neutral rating, signaling a more cautious near-term outlook rather than a bearish call. Blackstone price target lowered by JPMorgan
• Neutral Sentiment: Oppenheimer also cut its price target to $139 from $156, though it maintained an outperform rating, suggesting analysts still see upside from current levels despite trimming expectations. Blackstone price target lowered by Oppenheimer
• Negative Sentiment: The recent target cuts from major brokers may be weighing on sentiment today, even though both firms still see upside and have not turned outright bearish on Blackstone.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.