Blackstone Inc.

New York Stock Exchange
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Bullish +65

Blackstone (NYSE:BX) Stock Price Expected to Rise, Royal Bank Of Canada ...

📈 Royal Bank of Canada raised Blackstone's price target to $169.00 with an 'outperform' rating, implying 30.29% upside from the previous close.

📉 JPMorgan Chase lowered its target price to $132.00 and assigned a 'neutral' rating in a July 16th report.

💰 Blackstone reported Q2 EPS of $1.52, beating the consensus estimate of $1.34 by $0.18.

📊 Revenue reached $5.04 billion for the quarter, representing a 35.9% increase compared to the same period last year.

🏆 The company achieved a return on equity of 23.77% and a net margin of 21.84% during the reported quarter.

🤝 Major shareholder Treasury Holdings I. purchased 9,486,795 shares valued at $189.7 million in a May transaction.

📈 Private Multi-Asset Blackstone acquired an additional 765,111 shares worth over $20 million in late June.

🏛️ Institutional ownership remains strong with Vanguard Group, Morgan Stanley, and State Street Corp increasing their stakes recently.

🌍 Norges Bank initiated a new position in Blackstone valued at approximately $1.28 billion in the fourth quarter.

📝 Analyst consensus is currently 'Moderate Buy' with an average price target of $147.76 across thirteen buy and eleven hold ratings.

Bullish Signals
  • Royal Bank of Canada increased its price target to $169.00, suggesting significant upside potential relative to the previous close.
  • Blackstone's quarterly EPS of $1.52 exceeded analyst expectations by $0.18, demonstrating strong profitability.
  • Revenue of $5.04 billion significantly surpassed the consensus estimate of $3.42 billion, indicating robust business growth.
  • Year-over-year revenue growth of 35.9% highlights a substantial expansion in the company's top-line performance.
  • Insiders purchased over $209 million worth of shares in the last ninety days, signaling confidence in the stock's future.
  • Major institutional investors including Vanguard Group and Morgan Stanley increased their holdings during the fourth quarter.
Risk Factors
  • JPMorgan Chase reduced its price target to $132.00 and downgraded the rating to 'neutral', reflecting a more cautious outlook.
  • Weiss Ratings downgraded Blackstone from a 'hold (c)' to a 'hold (c-)', indicating a slight deterioration in credit or fundamental assessment.
Full Analysis
Blackstone (NYSE:BX) received a price target boost from Royal Bank of Canada, which raised its target from $161.00 to $169.00 and maintains an 'outperform' rating, suggesting potential upside of 30.29%. Other analysts have provided mixed signals recently; Dbs Bank upgraded shares to 'moderate buy', while JPMorgan Chase lowered its target price to $132.00 with a 'neutral' rating. Barclays increased its target to $128.00, whereas HSBC reaffirmed a 'hold' rating at $135.00. The consensus rating remains 'Moderate Buy' with an average target price of $147.76. In financial performance news, Blackstone reported quarterly earnings on July 23rd that significantly beat analyst expectations. The company posted EPS of $1.52 versus a consensus estimate of $1.34 and generated revenue of $5.04 billion compared to an expected $3.42 billion. Key metrics included a return on equity of 23.77% and a net margin of 21.84%. Revenue for the quarter surged 35.9% year-over-year, with analysts projecting current fiscal year EPS of 5.87. Insider activity and institutional ownership highlight continued confidence in the asset manager. Major shareholders Treasury Holdings I. and Private Multi-Asset Blackstone purchased significant shares totaling over $209 million in the last ninety days. Institutional investors like Vanguard Group, Morgan Stanley, and State Street Corp increased their positions in the fourth quarter, while Norges Bank established a new stake worth approximately $1.28 billion. Insiders currently own 1.00% of the stock.