Oppenheimer Weighs in on Blackstone Inc.’s Q2 2022 Earnings (NYSE:BX)

Blackstone Inc. (NYSE:BXGet Rating) – Investment analysts at Oppenheimer upped their Q2 2022 EPS estimates for Blackstone in a note issued to investors on Thursday, April 21st. Oppenheimer analyst C. Kotowski now expects that the asset manager will earn $1.34 per share for the quarter, up from their prior forecast of $1.15. Oppenheimer also issued estimates for Blackstone’s Q3 2022 earnings at $1.38 EPS.

Blackstone (NYSE:BXGet Rating) last announced its quarterly earnings data on Thursday, April 21st. The asset manager reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.48. Blackstone had a return on equity of 19.20% and a net margin of 23.77%. The firm had revenue of $5.13 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the business earned $0.96 EPS. The business’s revenue for the quarter was down 3.3% on a year-over-year basis.

A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets boosted their target price on Blackstone from $124.00 to $142.00 and gave the stock an “outperform” rating in a research report on Friday. BNP Paribas cut Blackstone from an “outperform” rating to a “neutral” rating and set a $135.00 price objective for the company. in a research report on Thursday, April 7th. Citigroup dropped their price objective on Blackstone from $132.50 to $117.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 12th. Morgan Stanley dropped their price objective on Blackstone from $166.00 to $154.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 20th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on Blackstone from $186.00 to $182.00 and set a “buy” rating on the stock in a research note on Friday. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $139.73.

Shares of NYSE:BX opened at $110.59 on Monday. The business’s 50 day moving average is $120.31 and its 200-day moving average is $127.07. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $75.96 billion, a PE ratio of 15.07, a PEG ratio of 1.59 and a beta of 1.31. Blackstone has a 1-year low of $83.15 and a 1-year high of $149.78.

Several institutional investors and hedge funds have recently made changes to their positions in BX. MML Investors Services LLC raised its position in Blackstone by 3.7% during the 3rd quarter. MML Investors Services LLC now owns 44,764 shares of the asset manager’s stock worth $5,208,000 after purchasing an additional 1,601 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Blackstone by 0.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,864,659 shares of the asset manager’s stock worth $333,275,000 after acquiring an additional 21,083 shares in the last quarter. Homrich & Berg raised its position in shares of Blackstone by 2.7% in the 3rd quarter. Homrich & Berg now owns 7,342 shares of the asset manager’s stock worth $854,000 after acquiring an additional 194 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in shares of Blackstone by 35.9% in the 4th quarter. Illinois Municipal Retirement Fund now owns 64,473 shares of the asset manager’s stock worth $8,342,000 after acquiring an additional 17,023 shares in the last quarter. Finally, Ameritas Advisory Services LLC bought a new position in shares of Blackstone in the 4th quarter worth about $1,825,000. Institutional investors own 61.09% of the company’s stock.

In other Blackstone news, major shareholder Holdings L.P. Blackstone III sold 52,900 shares of the firm’s stock in a transaction on Tuesday, March 1st. 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 SEC, which is available at this link. Also, Director Ruth Porat bought 5,000 shares of Blackstone stock in a transaction on Friday, February 25th. The stock was acquired at an average cost of $126.21 per share, for a total transaction of $631,050.00. The disclosure for this purchase can be found here. Insiders have sold 1,111,452 shares of company stock worth $69,334,658 in the last three months. 1.00% of the stock is currently owned by company insiders.

The business also recently declared a quarterly dividend, which will be paid on Monday, May 9th. Investors of record on Monday, May 2nd will be given a dividend of $1.32 per share. The ex-dividend date of this dividend is Friday, April 29th. This represents a $5.28 dividend on an annualized basis and a yield of 4.77%. This is an increase from Blackstone’s previous quarterly dividend of $0.93. Blackstone’s dividend payout ratio is currently 79.02%.

About Blackstone (Get 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-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.

Featured Articles

Earnings History and Estimates for Blackstone (NYSE:BX)

Receive News & Ratings for Blackstone Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Blackstone and related companies with MarketBeat.com's FREE daily email newsletter.