Blackstone Inc. (BX) To Go Ex-Dividend on November 2nd

Blackstone Inc. (NYSE:BX) declared a quarterly dividend on Tuesday, October 20th. Stockholders of record on Monday, November 2nd will be given a dividend of $1.12 per share by the asset manager on Monday, November 9th. This represents a $4.48 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Monday, November 2nd. This is a 13.2% decrease from Blackstone’s previous quarterly dividend of $1.29.

Blackstone has raised its dividend payment by an average of 0.2% per year over the last three years. Blackstone has a payout ratio of 70.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Blackstone to earn $7.41 per share next year, which means the company should continue to be able to cover its $4.48 annual dividend with an expected future payout ratio of 60.5%.

Blackstone Trading Down 1.8%

Shares of NYSE:BX opened at $118.46 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.71 and a quick ratio of 0.72. The company’s 50-day moving average price is $122.66 and its two-hundred day moving average price is $124.46. Blackstone has a one year low of $101.73 and a one year high of $165.14. The stock has a market capitalization of $88.92 billion, a PE ratio of 26.32, a price-to-earnings-growth ratio of 1.53 and a beta of 1.59.

Blackstone (NYSE:BX) last issued its quarterly earnings data on Thursday, October 22nd. The asset manager reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.06. Blackstone had a net margin of 22.11% and a return on equity of 23.16%. The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.27 billion. During the same period in the prior year, the firm earned $0.80 earnings per share. The company’s revenue was down .8% on a year-over-year basis. On average, equities analysts forecast that Blackstone will post 5.89 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. BMO Capital Markets reaffirmed an “outperform” rating and set a $130.00 price target on shares of Blackstone in a research report on Wednesday, October 21st. Credit Suisse Group set a $165.00 price objective on shares of Blackstone in a research note on Friday, October 23rd. The Goldman Sachs Group reiterated a “neutral” rating and set a $128.00 price target on shares of Blackstone in a report on Thursday, October 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Blackstone in a report on Thursday, October 22nd. Finally, UBS Group increased their target price on shares of Blackstone from $116.00 to $118.00 and gave the company a “neutral” rating in a research report on Friday, October 23rd. Thirteen investment analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $144.57.

Blackstone Company Profile

Blackstone Inc (NYSE:BX) is a global alternative asset management firm that provides investment and advisory services to institutional investors, companies, and qualified individual investors. The company manages capital across private equity, real estate, credit and insurance, infrastructure, hedge fund solutions, secondaries, and growth-oriented investments.

Blackstone invests in and manages portfolios of businesses, properties, infrastructure assets, and credit instruments across a range of industries.