Blackstone Inc. (BX) To Go Ex-Dividend on February 10th

Blackstone Inc. (NYSE:BX) declared a quarterly dividend on Tuesday, January 28th,Wall Street Journal reports. Shareholders of record on Monday, February 10th will be given a dividend of 1.44 per share by the asset manager on Tuesday, February 18th. This represents a $5.76 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date is Monday, February 10th. This is an increase from Blackstone’s previous quarterly dividend of $0.86.

Blackstone has decreased its dividend by an average of 1.1% per year over the last three years. Blackstone has a payout ratio of 82.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Blackstone to earn $7.14 per share next year, which means the company should continue to be able to cover its $5.76 annual dividend with an expected future payout ratio of 80.7%.

Blackstone Stock Down 2.5 %

BX stock opened at $170.11 on Friday. The firm has a 50-day moving average of $178.36 and a two-hundred day moving average of $163.48. The company has a market cap of $122.82 billion, a price-to-earnings ratio of 46.86, a PEG ratio of 1.13 and a beta of 1.53. The company has a current ratio of 0.67, a quick ratio of 0.71 and a debt-to-equity ratio of 0.61. Blackstone has a 12 month low of $115.82 and a 12 month high of $200.96.

Blackstone (NYSE:BX) last issued its earnings results on Thursday, January 30th. The asset manager reported $1.69 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.19. Blackstone had a net margin of 20.99% and a return on equity of 19.58%. As a group, analysts forecast that Blackstone will post 5.88 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BX. TD Cowen upgraded shares of Blackstone from a “hold” rating to a “buy” rating and raised their target price for the stock from $149.00 to $230.00 in a research report on Monday, December 9th. Barclays reduced their target price on shares of Blackstone from $192.00 to $186.00 and set an “equal weight” rating for the company in a research note on Friday, January 31st. StockNews.com downgraded Blackstone from a “buy” rating to a “hold” rating in a report on Friday, January 31st. Keefe, Bruyette & Woods increased their target price on shares of Blackstone from $174.00 to $177.00 and gave the company a “market perform” rating in a report on Friday, January 31st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Blackstone from $172.00 to $182.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Thirteen analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Blackstone has an average rating of “Hold” and a consensus price target of $172.38.

Blackstone Company Profile

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.