Blackstone (NYSE:BX) Announces Quarterly Earnings Results, Beats Estimates By $0.19 EPS

Blackstone (NYSE:BX) issued its quarterly earnings results on Thursday. The asset manager reported $1.69 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.19, Zacks reports. Blackstone had a return on equity of 17.53% and a net margin of 19.46%.

Blackstone Stock Performance

Shares of NYSE:BX traded down $8.85 during mid-day trading on Thursday, reaching $176.53. The company had a trading volume of 1,301,801 shares, compared to its average volume of 2,810,901. The company’s 50-day moving average price is $180.92 and its 200-day moving average price is $161.84. Blackstone has a one year low of $115.82 and a one year high of $200.96. The firm has a market cap of $127.45 billion, a price-to-earnings ratio of 60.61, a PEG ratio of 1.22 and a beta of 1.53. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58.

Insiders Place Their Bets

In other Blackstone news, insider John G. Finley sold 42,249 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $175.94, for a total transaction of $7,433,289.06. Following the sale, the insider now owns 387,137 shares of the company’s stock, valued at $68,112,883.78. The trade was a 9.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Evercore ISI lifted their price objective on shares of Blackstone from $148.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and raised their price objective for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Bank of America lifted their price target on shares of Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. raised their price target on shares of Blackstone from $125.00 to $146.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, BMO Capital Markets increased their price objective on Blackstone from $134.00 to $157.00 and gave the stock a “market perform” rating in a research note on Thursday, December 19th. Twelve equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Blackstone has an average rating of “Hold” and a consensus target price of $169.56.

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.