Blackstone

BofA Securities analyst Craig Siegenthaler expresses his view on Blackstone Inc‘s (NYSE:BX) upcoming fourth quarter FY23 earnings this Thursday. The analyst expects a more bullish outlook on key fundamental metrics (fundraising, investing, realizations) and stated that the company CEO highlighted six large investment announcements since late fourth-quarter FY23 at Davos last week. The analyst noted that BREIT Fee related performance revenues (FRPR) adjustment following a negative return in December and Blackstone Property Partners (BPP) Life Sciences FRPR removal following a negative return in 4Q23 erased its 9/30/23 net accrued carry, driven by BX real estate FRPR. The analyst expects the near-term EPS revisions to have very little impact on 2025-26 EPS. The analyst writes that fundholders could react to negative quarterly performance following significant redemption improvement through December. However, Siegenthaler expects the improving trajectory to restart by March and for BREIT limits to end by mid-2024. The analyst also expects a very […]

Blackstone (NYSE:BX) is set to give its latest quarterly earnings report on Thursday, 2024-01-25. Here’s what investors need to know before the announcement. Analysts estimate that Blackstone will report an earnings per share (EPS) of $1.00. Blackstone bulls will hope to hear the company announce they’ve not only beaten that estimate, but also to provide positive guidance, or forecasted growth, for the next quarter. New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Blackstone (NYSE:BX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/19/2024 6.44% Citigroup $116 → $124 Downgrades Buy → Neutral 01/11/2024 — Oppenheimer Downgrades Outperform → Perform 01/04/2024 1.29% TD Cowen → $118 Initiates Coverage On → Market Perform 01/03/2024 9.87% Goldman Sachs → $128 Downgrades Buy → Neutral 12/20/2023 28.76% Piper Sandler → $150 Assumes → Overweight 10/20/2023 -9.87% Oppenheimer $107 → $105 Maintains Outperform 10/20/2023 -3% Wells Fargo $118 → $113 Maintains Overweight 10/20/2023 -19.31% BMO Capital $97 → $94 Maintains Market Perform 10/20/2023 3% Morgan Stanley $125 → $120 Maintains Overweight 10/10/2023 -0.43% Barclays $110 → $116 Maintains Equal-Weight 10/06/2023 -3% HSBC → $113 Initiates Coverage On → Hold 09/05/2023 7.3% Morgan Stanley $125 → $125 Reiterates Overweight → Overweight 07/24/2023 -3.86% Goldman Sachs $98 → $112 Maintains Buy 07/21/2023 0.43% Oppenheimer $115 → $117 Maintains Outperform 07/21/2023 7.3%

Citigroup analyst Chris Allen downgrades Blackstone (NYSE:BX) from Buy to Neutral and raises the price target from $116 to $124.

Blackstone Real Estate to Take Tricon Residential Private Blackstone Remains Committed to Tricon’s Extensive Housing Development Platform, Including its Pipeline of $1 Billion of New Single-Family Homes in the U.S. and $2.5 Billion of New Apartments in Canada Plans to Improve Quality of Existing U.S. Single-Family Homes through an Additional $1 Billion of Capital Projects All financial and share price-related information is presented in U.S. dollars unless otherwise indicated. NEW YORK & TORONTO–(BUSINESS WIRE)–January 19, 2024– Blackstone (NYSE: BX) and Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”) today announced that they have entered into an arrangement agreement (the “Arrangement Agreement”) under which Blackstone Real Estate Partners X together with Blackstone Real Estate Income Trust, Inc. (“BREIT”) will acquire all outstanding common shares of Tricon (“Common Shares”) for $11.25 (approximately C$15.17) per Common Share in cash (the “Transaction”). The Transaction price represents a premium of 30% to

Blackstone (NYSE:BX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/11/2024 — Oppenheimer Downgrades Outperform → Perform 01/04/2024 -2.56% TD Cowen → $118 Initiates Coverage On → Market Perform 01/03/2024 5.7% Goldman Sachs → $128 Downgrades Buy → Neutral 12/20/2023 23.86% Piper Sandler → $150 Assumes → Overweight 10/20/2023 -13.29% Oppenheimer $107 → $105 Maintains Outperform 10/20/2023 -6.69% Wells Fargo $118 → $113 Maintains Overweight 10/20/2023 -22.38% BMO Capital $97 → $94 Maintains Market Perform 10/20/2023 -0.91% Morgan Stanley $125 → $120 Maintains Overweight 10/10/2023 -4.21% Barclays $110 → $116 Maintains Equal-Weight 10/06/2023 -6.69% HSBC → $113 Initiates Coverage On → Hold 09/05/2023 3.22% Morgan Stanley $125 → $125 Reiterates Overweight → Overweight 07/24/2023 -7.51% Goldman Sachs $98 → $112 Maintains Buy 07/21/2023 -3.39% Oppenheimer $115 → $117 Maintains Outperform 07/21/2023 3.22% Morgan Stanley $116 → $125 Maintains Overweight 07/21/2023 -19.9% BMO

Blackstone (NYSE:BX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/04/2024 -4.17% TD Cowen → $118 Initiates Coverage On → Market Perform 01/03/2024 3.96% Goldman Sachs → $128 Downgrades Buy → Neutral 12/20/2023 21.82% Piper Sandler → $150 Assumes → Overweight 10/20/2023 -14.72% Oppenheimer $107 → $105 Maintains Outperform 10/20/2023 -8.23% Wells Fargo $118 → $113 Maintains Overweight 10/20/2023 -23.66% BMO Capital $97 → $94 Maintains Market Perform 10/20/2023 -2.54% Morgan Stanley $125 → $120 Maintains Overweight 10/10/2023 -5.79% Barclays $110 → $116 Maintains Equal-Weight 10/06/2023 -8.23% HSBC → $113 Initiates Coverage On → Hold 09/05/2023 1.52% Morgan Stanley $125 → $125 Reiterates Overweight → Overweight 07/24/2023 -9.04% Goldman Sachs $98 → $112 Maintains Buy 07/21/2023 -4.98% Oppenheimer $115 → $117 Maintains Outperform 07/21/2023 1.52% Morgan Stanley $116 → $125 Maintains Overweight 07/21/2023 -21.22% BMO Capital $93 → $97 Maintains Market Perform

TD Cowen analyst Bill Kirk initiates coverage on Blackstone (NYSE:BX) with a Market Perform rating and announces Price Target of $118.

Blackstone (NYSE:BX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/03/2024 1.19% Goldman Sachs → $128 Downgrades Buy → Neutral 12/20/2023 18.58% Piper Sandler → $150 Assumes → Overweight 10/20/2023 -17% Oppenheimer $107 → $105 Maintains Outperform 10/20/2023 -10.67% Wells Fargo $118 → $113 Maintains Overweight 10/20/2023 -25.69% BMO Capital $97 → $94 Maintains Market Perform 10/20/2023 -5.14% Morgan Stanley $125 → $120 Maintains Overweight 10/10/2023 -8.3% Barclays $110 → $116 Maintains Equal-Weight 10/06/2023 -10.67% HSBC → $113 Initiates Coverage On → Hold 09/05/2023 -1.19% Morgan Stanley $125 → $125 Reiterates Overweight → Overweight 07/24/2023 -11.46% Goldman Sachs $98 → $112 Maintains Buy 07/21/2023 -7.51% Oppenheimer $115 → $117 Maintains Outperform 07/21/2023 -1.19% Morgan Stanley $116 → $125 Maintains Overweight 07/21/2023 -23.32% BMO Capital $93 → $97 Maintains Market Perform 07/21/2023 -6.72% Wells Fargo $104 → $118 Maintains Overweight 07/21/2023 -12.25% JP

Blackstone (NYSE:BX) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/20/2023 16.36% Piper Sandler → $150 Assumes → Overweight 10/20/2023 -18.55% Oppenheimer $107 → $105 Maintains Outperform 10/20/2023 -12.34% Wells Fargo $118 → $113 Maintains Overweight 10/20/2023 -27.08% BMO Capital $97 → $94 Maintains Market Perform 10/20/2023 -6.91% Morgan Stanley $125 → $120 Maintains Overweight 10/10/2023 -10.01% Barclays $110 → $116 Maintains Equal-Weight 10/06/2023 -12.34% HSBC → $113 Initiates Coverage On → Hold 09/05/2023 -3.03% Morgan Stanley $125 → $125 Reiterates Overweight → Overweight 07/24/2023 -13.12% Goldman Sachs $98 → $112 Maintains Buy 07/21/2023 -9.24% Oppenheimer $115 → $117 Maintains Outperform 07/21/2023 -3.03% Morgan Stanley $116 → $125 Maintains Overweight 07/21/2023 -24.75% BMO Capital $93 → $97 Maintains Market Perform 07/21/2023 -8.46% Wells Fargo $104 → $118 Maintains Overweight 07/21/2023 -13.89% JP Morgan $102 → $111 Downgrades Overweight → Neutral 07/21/2023 -9.24%

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We see BX facing a moderating outlook, with higher-for-longer rates impacting fee earnings, fundraising, and investment realizations. Using a narrower risk premium, we lower our target by $18 to $107 on a forward P/E of 18.8x, in line with the five-year historic average at 18.7x. Based on distributed earnings, we lower our EPS estimates in 2023 by $0.40 to $4.00 and ’24’s by $0.35 to $5.70, both below the consensus. BX posted Q3 2023 EPS of $0.94, a $0.10 earnings miss. Revenue declined 10% Y/Y in Q3 2023. We see total revenue of $10.85B in 2023 and $14.2B in 2024. For industry-realized financial metrics, performance revenues were -28% Y/Y, performance compensation -35%, and principal investment income -60%. Fund net inflows were only +$25B with the largest contributors

Blackstone (NYSE:BX) reported quarterly earnings of $0.94 per share which missed the analyst consensus estimate of $1.01 by 6.93 percent. This is a 11.32 percent decrease over earnings of $1.06 per share from the same period last year. The company reported quarterly sales of $2.32 billion which missed the analyst consensus estimate of $2.51 billion by 7.49 percent. This is a 10.42 percent decrease over sales of $2.59 billion the same period last year.