Blackstone (NYSE:BX) Releases Quarterly Earnings Results, Beats Estimates By $0.18 EPS

Blackstone (NYSE:BX) announced its earnings results on Thursday. The asset manager reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.18, FiscalAI reports. Blackstone had a net margin of 20.67% and a return on equity of 22.86%. The business had revenue of $5.04 billion during the quarter, compared to analyst estimates of $3.42 billion. During the same period in the previous year, the business posted $0.98 earnings per share. Blackstone’s revenue for the quarter was up 35.9% on a year-over-year basis.

Blackstone Trading Up 0.0%

Shares of BX traded up $0.06 during trading hours on Thursday, reaching $122.88. 1,517,740 shares of the company traded hands, compared to its average volume of 6,694,974. The company’s fifty day moving average price is $120.06 and its two-hundred day moving average price is $125.05. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $91.28 billion, a price-to-earnings ratio of 31.27, a price-to-earnings-growth ratio of 1.35 and a beta of 1.58. Blackstone has a 12 month low of $101.73 and a 12 month high of $190.09.

More Blackstone News

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone beat second-quarter expectations, reporting $1.52 EPS versus the $1.34 consensus, while revenue rose 35.9% year over year and profit improved from the prior year. Article Title
• Positive Sentiment: Management also appears to be benefiting from stronger assets under management and gains tied to a large AI investment, which helped boost quarterly profit. Article Title
• Positive Sentiment: Blackstone’s private-equity business saw stronger inflows, suggesting continued investor demand even as private credit slowed. Article Title
• Positive Sentiment: The company also expanded its AI and infrastructure footprint, including a finalized A$4.3 billion AI data-center loan and new moves in India, reinforcing growth opportunities in alternative assets. Article Title
• Neutral Sentiment: Blackstone, Vanguard, and Wellington launched new products aimed at wealthy investors, which could broaden distribution over time but is not an immediate earnings driver. Article Title
• Neutral Sentiment: Some pre-earnings commentary noted that private-capital shares had lagged banks this year, but the stronger-than-expected results help offset that concern. Article Title

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BX shares. BMO Capital Markets lifted their price target on Blackstone from $126.00 to $132.00 and gave the stock an “outperform” rating in a research note on Monday, April 13th. Jefferies Financial Group lifted their price target on shares of Blackstone from $143.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. BNP Paribas Exane decreased their target price on shares of Blackstone from $126.00 to $125.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 30th. Citizens Jmp cut their price target on shares of Blackstone from $190.00 to $165.00 and set a “market outperform” rating for the company in a research report on Thursday, July 9th. Finally, TD Cowen lowered their price objective on Blackstone from $140.00 to $133.00 and set a “buy” rating for the company in a research report on Monday, May 18th. Thirteen equities research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $145.71.

Insider Activity at Blackstone

In other Blackstone news, major shareholder Private Multi-Asset Blackstone acquired 765,111 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were acquired at an average price of $26.14 per share, with a total value of $20,000,001.54. Following the completion of the purchase, the insider directly owned 7,882,145 shares of the company’s stock, valued at approximately $206,039,270.30. The trade was a 10.75% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Bx Buzz Ml-1 Gp Llc sold 7,477,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $3.78, for a total value of $28,264,950.00. Following the completion of the sale, the insider directly owned 19,374 shares in the company, valued at approximately $73,233.72. This represents a 99.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders purchased a total of 10,252,345 shares of company stock valued at $209,789,893 over the last ninety days. Insiders own 1.00% of the company’s stock.

Institutional Investors Weigh In On Blackstone

Several institutional investors and hedge funds have recently made changes to their positions in the company. Strive Asset Management LLC bought a new stake in Blackstone during the third quarter valued at approximately $30,000. Kelleher Financial Advisors purchased a new stake in shares of Blackstone in the third quarter worth about $34,000. IFC & Insurance Marketing Inc. bought a new position in shares of Blackstone during the 4th quarter valued at approximately $33,000. Caitong International Asset Management Co. Ltd purchased a new position in Blackstone in the fourth quarter worth about $36,000. Finally, JPL Wealth Management LLC purchased a new stake in Blackstone during the 3rd quarter valued at $49,000. Institutional investors own 70.00% of the company’s stock.

Blackstone Company Profile

Blackstone Inc (NYSE: BX) is a global investment firm focused on alternative asset management. Founded in 1985 by Stephen A. Schwarzman and Peter G. Peterson and headquartered in New York City, the firm organizes and manages investment vehicles that acquire and operate businesses, real estate and credit investments, as well as provide hedge fund solutions and other alternative strategies for institutional and individual investors.

Blackstone’s business is organized around several principal investment platforms.