Blackstone Inc. Earnings Projection Surges: Analyst Insights
Anticipating Blackstone's Earnings Report
Blackstone Inc. (NYSE: BX) is set to disclose its second-quarter earnings results shortly. There is a keen interest among investors and analysts as the report is due to be released before the market opens on a Thursday.
Current Earnings Expectations
According to analysts, the New York-based investment firm is expected to report earnings per share at approximately $1.10, which reflects a notable increase from the 96 cents reported in the same quarter last year. Additionally, predictions for quarterly revenue are estimated to hit about $2.81 billion, up from last year's $2.52 billion.
Recent Developments and Market Reaction
In recent days, Blackstone has made headlines with its acquisition of a majority interest in Network Ops firm NetBrain, marking a significant strategic move in enhancing its operational capabilities within the tech sector. Following this announcement, Blackstone shares experienced a boost, gaining about 1.5% and closing at $171.96 on the previous Wednesday.
Analysts' Ratings and Insights
In light of the forthcoming earnings report, several analysts have reevaluated their positions on Blackstone stock:
- JMP Securities analyst Brian McKenna has maintained a Market Outperform rating and raised the price target for the stock from $165 to $180, reflecting an accuracy rate of 70%.
- Wells Fargo analyst Michael Brown has kept an Equal-Weight rating while raising the price target from $153 to $167, boasting a 72% accuracy rate.
- Citigroup's Christopher Allen maintained a Neutral rating and adjusted his price target from $137 to $160, achieving an accuracy rate of 78%.
- Barclays analyst Benjamin Budish similarly retained an Equal-Weight rating and increased the price target from $136 to $168, with an 83% accuracy rate.
- Evercore ISI Group analyst Glenn Schorr has an Outperform rating, increasing the price target from $152 to $165, possessing a 75% accuracy rate.
Strategic Considerations for Investors
For those contemplating an investment in BX stock, the sentiments shared by analysts provide a valuable perspective on the potential trajectories for the company’s stock value in light of the anticipated earnings results.
Frequently Asked Questions
What are the expected earnings per share for Blackstone?
Analysts expect Blackstone to report earnings per share at approximately $1.10 for the upcoming quarter.
What recent acquisition has Blackstone made?
Blackstone recently acquired a majority stake in Network Ops firm NetBrain.
What was Blackstone's share price before the earnings report?
The shares closed at $171.96, reflecting a 1.5% increase recently.
What are some analyst ratings for Blackstone?
Analysts have set various ratings and adjusted price targets, with price targets ranging from $160 to $180 across different firms.
How significant are the quarterly revenue predictions for Blackstone?
Quarterly revenue predictions are set at around $2.81 billion, which shows a growth compared to $2.52 billion from the previous year.
About The Author
Contact Kelly Martin privately here. Or send an email with ATTN: Kelly Martin as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.
