Royal Bank Of Canada Issues Pessimistic Forecast for Blackstone Secured Lending Fund (NYSE:BXSL) Stock Price

Key Points

• Royal Bank Of Canada has reduced its price target for Blackstone Secured Lending Fund (NYSE:BXSL) from $33.00 to $32.00, indicating a potential upside of 8.90% from the current price.
• Wells Fargo & Company has raised its price target for BXSL to $28.00, while the stock maintains a "Moderate Buy" rating with a consensus target price of $31.38.
• Despite missing earnings estimates with $0.77 EPS versus the consensus of $0.81, Blackstone Secured Lending Fund reported a net margin of 44.25% and revenue of $344.80 million during its last quarter.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) had its price target dropped by research analysts at Royal Bank Of Canada from $33.00 to $32.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Royal Bank Of Canada's price target would indicate a potential upside of 8.90% from the company's current price.

Separately, Wells Fargo & Company lifted their price objective on shares of Blackstone Secured Lending Fund from $27.00 to $28.00 and gave the company an "equal weight" rating in a research note on Thursday, August 7th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $31.38.

Blackstone Secured Lending Fund Stock Performance

Shares of NYSE BXSL opened at $29.39 on Thursday. The stock has a market cap of $6.77 billion, a P/E ratio of 10.34 and a beta of 0.45. Blackstone Secured Lending Fund has a 52-week low of $25.89 and a 52-week high of $34.64. The firm has a 50 day moving average price of $30.92 and a two-hundred day moving average price of $31.15.

Blackstone Secured Lending Fund (NYSE:BXSL - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $0.77 earnings per share for the quarter, missing the consensus estimate of $0.81 by ($0.04). Blackstone Secured Lending Fund had a net margin of 44.25% and a return on equity of 12.07%. The company had revenue of $344.80 million during the quarter, compared to the consensus estimate of $353.55 million. Analysts predict that Blackstone Secured Lending Fund will post 3.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BXSL. Triumph Capital Management lifted its stake in shares of Blackstone Secured Lending Fund by 4.3% during the 4th quarter. Triumph Capital Management now owns 33,854 shares of the company's stock valued at $1,094,000 after buying an additional 1,383 shares in the last quarter. Progeny 3 Inc. bought a new position in Blackstone Secured Lending Fund during the fourth quarter valued at $24,345,000. Northeast Financial Consultants Inc lifted its stake in Blackstone Secured Lending Fund by 12.6% in the fourth quarter. Northeast Financial Consultants Inc now owns 2,361,294 shares of the company's stock worth $76,293,000 after purchasing an additional 264,446 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Blackstone Secured Lending Fund by 22.8% during the fourth quarter. Cetera Investment Advisers now owns 191,654 shares of the company's stock valued at $6,192,000 after purchasing an additional 35,547 shares during the period. Finally, Parkwood LLC bought a new position in Blackstone Secured Lending Fund in the fourth quarter worth approximately $4,124,000. Institutional investors own 36.49% of the company's stock.

Blackstone Secured Lending Fund Company Profile

Blackstone Secured Lending Fund is business development company and a Delaware statutory trust formed on March 26, 2018, and structured as an externally managed, non-diversified closed-end investment Fund. On October 26, 2018, the fund elected to be regulated as a business development company (BDC) under the Investment Company Act of 1940, as amended (the 1940 Act).

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