Blackstone Inc. (NYSE:BX) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts rate Blackstone a “Moderate Buy”: Thirteen of 24 analysts recommend buying the stock, while 11 rate it a hold. The average 12-month price target is $148.71, above the reported share price of $112.24.
• Quarterly results exceeded expectations: Blackstone reported adjusted EPS of $1.52 versus the $1.34 consensus estimate, while revenue reached $5.04 billion, up 35.9% year over year and well above forecasts.
• The dividend increased to $1.29 per share quarterly: This represents an annualized payout of $5.16 and a 4.6% yield. Recent insider activity was mixed, with insiders selling more shares than they purchased, including a large sale by a major shareholder.

Blackstone Inc. (NYSE:BX - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty-four analysts that are covering the firm, MarketBeat Ratings reports. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $148.71.

Several brokerages have recently commented on BX. TD Cowen upped their price objective on shares of Blackstone from $133.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Argus boosted their price target on Blackstone from $146.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, July 30th. Barclays increased their price objective on Blackstone from $119.00 to $128.00 and gave the stock an "equal weight" rating in a report on Friday, July 24th. Sanford C. Bernstein initiated coverage on Blackstone in a research note on Monday, June 8th. They set an "outperform" rating on the stock. Finally, BNP Paribas Exane decreased their target price on Blackstone from $126.00 to $125.00 and set a "neutral" rating for the company in a report on Tuesday, June 30th.

Blackstone Trading Up 0.1%

Shares of BX stock opened at $112.24 on Friday. The business has a 50-day moving average price of $132.96 and a two-hundred day moving average price of $124.14. Blackstone has a 12-month low of $101.73 and a 12-month high of $170.00. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.63. The firm has a market cap of $84.25 billion, a P/E ratio of 25.11, a price-to-earnings-growth ratio of 1.26 and a beta of 1.59.

Blackstone (NYSE:BX - Get Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The asset manager reported $1.52 EPS for the quarter, topping the consensus estimate of $1.34 by $0.18. The firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $3.42 billion. Blackstone had a net margin of 21.84% and a return on equity of 23.77%. The business's revenue was up 35.9% compared to the same quarter last year. During the same period last year, the firm posted $0.98 earnings per share. Equities analysts anticipate that Blackstone will post 5.98 EPS for the current fiscal year.

Blackstone Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 10th. Investors of record on Monday, August 3rd were given a dividend of $1.29 per share. This is a boost from Blackstone's previous quarterly dividend of $1.16. This represents a $5.16 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Monday, August 3rd. Blackstone's dividend payout ratio is presently 115.44%.

Insider Activity

In related news, Director Joseph Baratta sold 100,000 shares of Blackstone stock in a transaction dated Friday, September 18th. The shares were sold at an average price of $123.80, for a total transaction of $12,380,000.00. Following the completion of the transaction, the director directly owned 771,599 shares of the company's stock, valued at $95,523,956.20. This trade represents a 11.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 3,767,776 shares of Blackstone stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $2.94, for a total transaction of $11,077,261.44. Following the transaction, the insider owned 16,120 shares of the company's stock, valued at $47,392.80. The trade was a 99.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have purchased 1,038,406 shares of company stock worth $27,205,951 and have sold 4,077,276 shares worth $37,573,644. Corporate insiders own 1.00% of the company's stock.

Institutional Trading of Blackstone

A number of institutional investors have recently made changes to their positions in BX. Palladiem LLC bought a new stake in Blackstone during the 4th quarter worth approximately $31,000. 1 North Wealth Services LLC increased its stake in shares of Blackstone by 99.1% in the fourth quarter. 1 North Wealth Services LLC now owns 221 shares of the asset manager's stock worth $34,000 after purchasing an additional 110 shares in the last quarter. Wellington Altus USA Inc. purchased a new position in shares of Blackstone during the 2nd quarter valued at $26,000. Addison Advisors LLC bought a new position in Blackstone in the 2nd quarter worth $30,000. Finally, NBH Bank bought a new stake in Blackstone during the second quarter valued at about $30,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Blackstone News Summary

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone is reportedly exploring an offer for Robin Radar, a Dutch drone-detection technology company, in a sale process potentially valued at approximately $2.26 billion. The deal could expand Blackstone’s exposure to defense and security technology, although no transaction has been confirmed. Market Chatter: Blackstone Explores Offer for Robin Radar in Possible $2.26 Billion Sale Process
• Positive Sentiment: The firm is also reportedly committing $1 billion to build a military-technology company focused on counter-drone systems. The initiative could create a new growth platform in the expanding defense market and complement the reported Robin Radar interest. Market Chatter: Blackstone Investing $1 Billion to Build Military Technology Firm to Counter Drones
• Neutral Sentiment: Blackstone has unveiled an investment platform targeting Nordic warehouses, potentially benefiting from demand for logistics and industrial real estate. The platform broadens its real-estate strategy, but the financial impact and fundraising details were not provided. Market Chatter: Blackstone Unveils Investment Platform for Nordic Warehouses
• Negative Sentiment: Major shareholder BX Buzz ML-1 GP LLC reported selling 3.77 million shares and reducing its disclosed position by 99.57%. Such a large disposal can create a supply overhang and weaken investor confidence, although the reported average price of $2.94 appears inconsistent with Blackstone’s prevailing market price and may reflect a filing or transaction-structure issue. Blackstone Major Shareholder Share Sale

About Blackstone

Blackstone Inc is a global alternative asset management firm that provides investment solutions to institutional investors, companies, financial advisers and individual investors. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson, the company has developed a broad platform spanning private markets and other alternative investments.

Blackstone's businesses include private equity, real estate, credit and insurance, infrastructure, secondaries and hedge fund solutions. Its investment activities may involve acquiring and managing companies, commercial and residential properties, infrastructure assets, private credit and other investments on behalf of its clients.

The firm serves clients and invests across North America, Europe, Asia-Pacific and other international markets.

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