Blackstone Announces Q1 Earnings: A Mixed Bag
Blackstone (NYSE:BX) announced its quarterly earnings data on Thursday, reporting $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.02). The firm had revenue of $3.62 billion for the quarter, compared to analyst estimates of $3.45 billion. Blackstone had a return on equity of 22.17% and a net margin of 20.89%. The company’s quarterly revenue was up 10.0% on a year-over-year basis.
Key Takeaways from Blackstone’s Conference Call
During the conference call, Blackstone’s management discussed the company’s performance and outlook. The key takeaways from the call include:
- Blackstone’s revenue growth was driven by strong performance in its alternative asset management business.
- The company’s net margin expanded due to improved operating efficiency and cost management.
- Blackstone’s return on equity remained strong, reflecting the company’s ability to generate profits from its investments.
Blackstone Stock: What’s Next?
Blackstone stock traded down $6.52 during mid-day trading on Thursday, hitting $123.22. The stock has a 12 month low of $101.73 and a 12 month high of $190.09. The firm’s fifty day simple moving average is $116.92 and its two-hundred day simple moving average is $138.77. The stock has a market capitalization of $91.45 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 1.33 and a beta of 1.74.
Indian investors can access Blackstone’s stock through US stock market trading platforms or by investing in global mutual funds that hold Blackstone stock.
Dividend Update
The company also recently declared a quarterly dividend, which was paid on Tuesday, February 17th. Shareholders of record on Monday, February 9th were issued a dividend of $1.49 per share. This represents a $5.96 annualized dividend and a yield of 4.8%. The ex-dividend date was Monday, February 9th. This is a positive change from Blackstone’s previous quarterly dividend of $1.29. Blackstone’s dividend payout ratio (DPR) is 153.61%.
Analyst Ratings
Several equities research analysts recently issued reports on BX shares. Royal Bank Of Canada decreased their price target on shares of Blackstone from $179.00 to $176.00 and set an “outperform” rating on the stock in a report on Monday. Citigroup reiterated a “market outperform” rating on shares of Blackstone in a research report on Friday, January 30th. BNP Paribas Exane lowered their price objective on shares of Blackstone from $167.00 to $156.00 and set a “neutral” rating for the company in a research report on Monday, January 12th.
For Indian investors looking to invest in US stocks, it’s essential to stay updated on the latest market news and trends. You can also explore investment strategies and stock market tips on our website.
Institutional Investors
Several large investors have recently modified their holdings of BX. Amundi grew its position in shares of Blackstone by 85.6% during the 4th quarter. Amundi now owns 2,709,345 shares of the asset manager’s stock worth $417,620,000 after buying an additional 1,249,269 shares during the period. Morgan Stanley grew its position in Blackstone by 2.0% in the 4th quarter. Morgan Stanley now owns 32,862,165 shares of the asset manager’s stock valued at $5,065,374,000 after purchasing an additional 636,613 shares during the period.
Institutional investors and hedge funds own 70.00% of the company’s stock. Indian investors can learn more about institutional investing and how to participate in the global stock market through our website.