Blackstone Inc. (NYSE:BX) to Issue Quarterly Dividend of $1.29

Blackstone Inc. (NYSE:BX) announced a quarterly dividend on Thursday, October 23rd. Investors of record on Monday, November 3rd will be paid a dividend of 1.29 per share by the asset manager on Monday, November 10th. This represents a c) dividend on an annualized basis and a yield of 3.3%. The ex-dividend date is Monday, November 3rd. This is a 25.2% increase from Blackstone’s previous quarterly dividend of $1.03.

Blackstone has a dividend payout ratio of 58.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Blackstone to earn $7.14 per share next year, which means the company should continue to be able to cover its $3.72 annual dividend with an expected future payout ratio of 52.1%.

Blackstone Stock Performance

Shares of Blackstone stock opened at $155.26 on Friday. The business’s fifty day simple moving average is $170.54 and its 200 day simple moving average is $155.53. The firm has a market capitalization of $114.44 billion, a P/E ratio of 41.74, a price-to-earnings-growth ratio of 1.32 and a beta of 1.77. Blackstone has a 12 month low of $115.66 and a 12 month high of $200.96. The company has a current ratio of 0.74, a quick ratio of 0.74 and a debt-to-equity ratio of 0.61.

Blackstone (NYSE:BX) last issued its earnings results on Friday, November 22nd. The asset manager reported $0.97 earnings per share (EPS) for the quarter. The firm had revenue of $2.49 billion for the quarter. Blackstone had a return on equity of 20.47% and a net margin of 20.83%. As a group, analysts anticipate that Blackstone will post 5.87 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on BX. Jefferies Financial Group lowered their target price on Blackstone from $207.00 to $199.00 and set a “buy” rating on the stock in a research note on Tuesday, October 7th. Deutsche Bank Aktiengesellschaft lowered their target price on Blackstone from $194.00 to $188.00 and set a “buy” rating on the stock in a research note on Thursday, October 9th. BNP Paribas Exane boosted their price objective on Blackstone from $166.00 to $178.00 and gave the company a “neutral” rating in a research note on Monday, September 29th. Keefe, Bruyette & Woods decreased their price objective on Blackstone from $180.00 to $171.00 and set a “market perform” rating on the stock in a research note on Monday, October 13th. Finally, Dbs Bank upgraded Blackstone to a “moderate buy” rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $182.79.

About Blackstone

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.