Blackstone (BX) to Release Earnings on Thursday

Blackstone (NYSE:BX - Get Free Report) is anticipated to issue its quarterly earnings data before the market opens on Thursday, April 17th. Analysts expect the company to announce earnings of $1.22 per share and revenue of $2.95 billion for the quarter. Investors interested in registering for the company's conference call can do so using this link.

Blackstone (NYSE:BX - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The asset manager reported $1.69 EPS for the quarter, topping the consensus estimate of $1.50 by $0.19. Blackstone had a return on equity of 19.58% and a net margin of 20.99%. On average, analysts expect Blackstone to post $6 EPS for the current fiscal year and $7 EPS for the next fiscal year.

Blackstone Stock Performance

Shares of Blackstone stock traded up $3.20 during trading hours on Tuesday, reaching $133.67. 6,222,545 shares of the stock traded hands, compared to its average volume of 3,713,300. The company has a 50 day moving average price of $147.39 and a 200 day moving average price of $165.32. Blackstone has a one year low of $115.66 and a one year high of $200.96. The company has a quick ratio of 0.71, a current ratio of 0.67 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $97.50 billion, a price-to-earnings ratio of 36.82, a P/E/G ratio of 1.07 and a beta of 1.61.

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Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Monday, February 10th were given a $1.44 dividend. The ex-dividend date was Monday, February 10th. This is an increase from Blackstone's previous quarterly dividend of $0.86. This represents a $5.76 annualized dividend and a yield of 4.31%. Blackstone's dividend payout ratio (DPR) is presently 158.68%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. UBS Group upgraded Blackstone from a "neutral" rating to a "buy" rating and set a $180.00 target price on the stock in a research report on Monday, March 17th. Citigroup reduced their target price on shares of Blackstone from $190.00 to $137.00 and set a "neutral" rating for the company in a report on Tuesday, April 8th. JMP Securities upgraded shares of Blackstone from a "market perform" rating to a "market outperform" rating and set a $165.00 price target for the company in a research report on Tuesday, April 8th. JPMorgan Chase & Co. lifted their target price on shares of Blackstone from $149.00 to $154.00 and gave the company a "neutral" rating in a research note on Friday, January 31st. Finally, StockNews.com cut Blackstone from a "buy" rating to a "hold" rating in a report on Friday, January 31st. Eleven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Blackstone has a consensus rating of "Hold" and an average price target of $155.72.

Insider Activity at Blackstone

In related news, Director Ruth Porat acquired 301 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were acquired at an average cost of $164.85 per share, for a total transaction of $49,619.85. Following the completion of the transaction, the director now directly owns 36,829 shares in the company, valued at approximately $6,071,260.65. This trade represents a 0.82 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Blackstone

An institutional investor recently raised its position in Blackstone stock. Brighton Jones LLC lifted its position in Blackstone Inc. (NYSE:BX - Free Report) by 34.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,917 shares of the asset manager's stock after acquiring an additional 2,035 shares during the quarter. Brighton Jones LLC's holdings in Blackstone were worth $1,365,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 70.00% of the company's stock.

About Blackstone

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.