Zacks Research analysts downgrade Blackstone Inc. earnings estimates. (NYSE:BX)

Blackstone Inc. (NYSE:BX – Free Report) – Equities research analysts at Zacks Research lowered their 2024 EPS estimates for Blackstone in a research report issued on Friday, June 14. Zacks Research analyst R. Department now expects the asset manager to post earnings of $4.67 per share for the year, up from the previous forecast of $4.70. The consensus estimate for Blackstone’s current full-year earnings is $4.77 per share. Zacks Research also issued estimates for Blackstone’s Q1 2025 earnings of $1.23 EPS, Q4 2025 earnings of $1.90 per share, FY2025 earnings of $5.70 per share, first quarter 2026 earnings of $1.84 per share and 2026 earnings of $7.81 per share.

BX has been the subject of numerous other reports. JMP Securities, in a report published on Tuesday, April 9, maintained its “market perform” recommendation for Blackstone shares. Bank of America lowered their target price on shares of Blackstone from $141.00 to $132.00 and set a “buy” rating for the company in a report on Friday, April 19th. Piper Sandler lowered their target price on shares of Blackstone from $150.00 to $146.00 and gave an “overweight” rating for the company in a report on Wednesday, April 10th. UBS Group increased their target price on shares of Blackstone from $135.00 to $138.00 and gave the stock a “neutral” rating in a research note on Friday, April 12th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Blackstone from $105.00 to $100.00 and set a “neutral” rating on the company in a research note on Friday, April 19th. Thirteen equity research analysts rated the company’s shares with a hold rating, and six issued a buy rating. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $123.65.

Read our latest report on BX

Blackstone stock performance

On Monday, NYSE:BX traded at $121.25. The company has a 50-day simple moving average of $122.46 and a 200-day simple moving average of $123.85. The company has a debt to equity ratio of 0.61, a current ratio of 0.79 and a quick ratio of 0.79. The company has a market capitalization of $86.65 billion, a PE ratio of 42.84, a P/E/G ratio of 1.01 and a beta of 1.53. Blackstone has a 1-year low of $87.40 and a 1-year high of $133.56.

Blackstone (NYSE:BX – Get Free Report) last announced its earnings results on Thursday, April 18th. The asset manager reported $0.98 earnings per share (EPS) for the quarter, meeting analyst consensus estimates of $0.98. The company had revenue of $3.69 billion for the quarter, compared to analyst expectations of $2.56 billion. Blackstone had a net margin of 20.84% ​​and a return on equity of 17.33%. The company’s quarterly revenue increased by 166.9% compared to the same quarter last year. During the same quarter last year, the company reported earnings per share of $0.97.

Blackstone cuts dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 6. On Monday, April 29, shareholders of record received a dividend of $0.83 per share. The dividend payment date was Friday, April 26. This represents an annual dividend of $3.32 and a dividend yield of 2.74%. Blackstone’s dividend payout ratio is currently 117.31%.

Confidential Trading at Blackstone

On the other hand, Director Ruth Porat purchased 219 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were purchased at an average price of $119.48 per share, for a total transaction amount of $26,166.12. Following the completion of the transaction, the director now owns 34,445 shares of the company’s stock, valued at $4,115,488.60. The purchase was disclosed in a filing with the SEC, which is available on the SEC’s website. Insiders own 1.00% of the company’s shares.

Hedge funds are betting on Blackstone

Institutional investors and hedge funds have been buying and selling shares of the company recently. Bay Rivers Group increased its holdings in Blackstone by 0.4% during the first quarter. Bay Rivers Group now owns 19,853 shares of the asset management company’s stock valued at $2,608,000 after purchasing an additional 84 shares in the last quarter. In the first quarter, BSW Wealth Partners increased its holdings in Blackstone by 1.9%. Following its purchase in the last quarter, BSW Wealth Partners now owns 4,556 shares of the asset management company’s stock valued at $599,000. Grupa Mater spółka z ograniczoną odpowiedzialnością increased its shares in Blackstone by 1.2% in the first quarter. Mater Group Limited now owns 7,113 shares of the asset management company’s stock valued at $931,000 after purchasing an additional 87 shares in the last quarter. In the first quarter, Fragasso Group Inc. increased its stake in Blackstone by 2.9%. Fragasso Group Inc. now owns 3,255 shares of the asset management company’s stock valued at $428,000 after purchasing an additional 91 shares in the last quarter. Finally, Clearwater Capital Advisors LLC increased its holdings in Blackstone by 4.3% during the first quarter. Clearwater Capital Advisors LLC now owns 2,210 shares of the asset management company’s stock valued at $290,000 after purchasing an additional 91 shares in the last quarter. Institutional investors hold 70.00% of the company’s shares.

Blackstone company profile

(Get the free report)

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 company usually invests in companies at an early stage of development. It also provides services related to the capital market.

Featured Stories

Get daily news and ratings for Blackstone – Enter your email address below to receive a daily concise summary of the latest news and analyst ratings for Blackstone and related companies with MarketBeat.com’s FREE daily email newsletter.