Blackstone Inc (NYSE: BX) has reported earnings for its third fiscal quarter (ending September 30) of $1.02 versus $0.73 for the same period a year ago — an increase of 40%. This result exceeded the consensus estimate of $1.00 by $0.02. For the latest four quarters through September 30, E.P.S. were $2.91 versus $2.39 for the same period a year ago — an increase of 22%.
Recent Price Action
On 10/17/24, Blackstone Inc (NYSE: BX) stock enjoyed a very large increase of 6.3%, closing at $169.73. Moreover, this advance was accompanied by exceptionally high trading volume at 295% of normal. Relative to the market the stock has been strong over the last nine months and has risen 14.4% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, BX is expected to continue to be a major Value Builder.
Blackstone has a current Value Trend Rating of C (Low Neutral). This rating combines very contradictory signals from two proprietary PTR measures of a stock’s attractiveness. Blackstone has a very low Appreciation Score of 13 but a good Power Rating of 83, with the Low Neutral Value Trend Rating the result.
Rating Review
In light of this encouraging new earnings information and positive market action we are reviewing our current Overall Rating of C. We would view the shares with optimism pending completion of this review in the next several days.
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