Blackstone Secured Lending Fund (NYSE:BXSL) Announces Quarterly Earnings Results, Misses Estimates By $0.02 EPS

Blackstone Secured Lending Fund (NYSE:BXSL) posted its earnings results on Wednesday. The company reported $0.84 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.02), Zacks reports. Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.15%.

Blackstone Secured Lending Fund Stock Down 3.3 %

Blackstone Secured Lending Fund stock traded down $1.14 during midday trading on Wednesday, reaching $32.84. The company’s stock had a trading volume of 1,164,595 shares, compared to its average volume of 1,042,987. The business has a 50-day simple moving average of $32.93 and a 200-day simple moving average of $31.46. The company has a market cap of $7.35 billion, a P/E ratio of 9.13 and a beta of 0.43. Blackstone Secured Lending Fund has a fifty-two week low of $27.76 and a fifty-two week high of $34.64.

Wall Street Analyst Weigh In

BXSL has been the topic of several research analyst reports. Wells Fargo & Company upped their price objective on Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. raised their target price on Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Compass Point lowered their target price on Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a research note on Friday, November 15th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Blackstone Secured Lending Fund has an average rating of “Moderate Buy” and an average price target of $32.13.

About Blackstone Secured Lending Fund

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).