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These Analysts Slash Their Forecasts On Blackstone Following Downbeat Earnings

Published 20/10/2023, 19:46
© Reuters.  These Analysts Slash Their Forecasts On Blackstone Following Downbeat Earnings
BX
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Benzinga - by Lisa Levin, Benzinga Editor.

Blackstone Inc. (NYSE: BX) reported weaker-than-expected third-quarter earnings.

Blackstone reported segment revenues of $2.32 billion, down 10% Y/Y and missing the consensus of $2.51 billion. Distributable Earnings per share of $0.94 missed the consensus of $1.01.

Blackstone declared a quarterly dividend per share of $0.80, payable on November 6, 2023, to shareholders of record as of October 30, 2023.

Blackstone shares fell 0.1% to trade at $94.20 on Friday.

These analysts made changes to their price targets on Blackstone following earnings announcement.

  • Morgan Stanley lowered the price target on Blackstone from $125 to $120. Morgan Stanley analyst Michael Cyprys maintained an Overweight rating.
  • BMO Capital cut the price target on Blackstone from $97 to $94. BMO Capital analyst Rufus Hone maintained a Market Perform rating on the stock.
  • Wells Fargo slashed the price target on Blackstone from $118 to $113. Wells Fargo analyst Timothy O'Shea maintained an Overweight rating.
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Latest Ratings for BX

DateFirmActionFromTo
Jan 2022Morgan StanleyMaintainsOverweight
Jan 2022Morgan StanleyMaintainsOverweight
Dec 2021Wells FargoInitiates Coverage OnEqual-Weight
View More Analyst Ratings for BX

View the Latest Analyst Ratings

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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