Blackstone: Time To Take Profits
Blackstone reported strong 3Q24 results with profits up YoY, driven by asset management growth and asset inflows, reaching $1.1 trillion in AUM. Despite robust performance, Blackstone's valuation at 42x distributable earnings seems excessively high, making the risk/reward relationship less favorable. The dividend yield has compressed to 2%, down from 4.6%, further diminishing the attractiveness of the stock at current valuation levels.
Blackstone Analysts Increase Their Forecasts After Q3 Earnings
Blackstone Inc BX reported better-than-expected third-quarter financial results on Thursday.
Blackstone's Q3 Earnings Beat on AUM Growth, Shares Hit All-Time High
: Solid net inflows and a favorable operating backdrop drive BX's Q3 AUM balance higher. This supports the company's earnings.
Blackstone Stock Hits Record High as Assets Under Management Jump
Blackstone (BX) shares soared to a record high Thursday after the world's largest alternative asset manager reported its profit skyrocketed as a result of bringing in more investments.
Blackstone Inc. (BX) Q3 2024 Earnings Call Transcript
Blackstone Inc. (NYSE:BX ) Q3 2024 Earnings Conference Call October 17, 2024 9:00 AM ET Company Participants Weston Tucker - Head of Shareholder Relations Steve Schwarzman - Chairman and Chief Executive Officer Jon Gray - President and Chief Operating Officer Michael Chae - Chief Financial Officer Conference Call Participants Michael Cyprys - Morgan Stanley Mike Brown - Wells Fargo Securities Glenn Schorr - Evercore Craig Siegenthaler - Bank of America Alex Blostein - Goldman Sachs Dan Fannon - Jefferies Brian Bedell - Deutsche Bank Brennan Hawken - UBS Benjamin Budish - Barclays Steven Chubak - Wolfe Research Ken Worthington - JPMorgan Bill Katz - TD Cowen Crispin Love - Piper Sandler Operator Good day and welcome to the Blackstone Third Quarter 2024 Investor Call. Today's conference is being recorded.
Blackstone Inc. (BX) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
While the top- and bottom-line numbers for Blackstone Inc. (BX) give a sense of how the business performed in the quarter ended September 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Blackstone Savors `Farm-to-Table' Private Credit Model
Blackstone Inc. President Jon Gray says it's inevitable that "some excess return'' comes out of private credit after boom times in that market. But with Blackstone's credit arm now its largest business, he tells Bloomberg's Sonali Basak that the outlook is bright because the company's ``farm-to-table'' model puts investors directly in touch with borrowers.
Blackstone shares up 7% as world's largest alternative asset manager beats Q3 earnings estimates
Blackstone shares surged by 7% on Thursday after the world's largest alternative investment firm reported impressive quarterly earnings that exceeded Wall Street expectations. The firm's assets under management (AUM) reached a record $1.1 trillion, reflecting a robust growth trajectory in its investment portfolio.
Blackstone's Q3 Earnings Beat, Stock Gains on Higher Revenues, AUM
An improvement in AUM and a rise in revenues drive BX's Q3 earnings.
Blackstone Inc. (BX) Q3 Earnings and Revenues Beat Estimates
Blackstone Inc. (BX) came out with quarterly earnings of $1.01 per share, beating the Zacks Consensus Estimate of $0.91 per share. This compares to earnings of $0.94 per share a year ago.
Blackstone President Jon Gray on Q3 results: We're seeing a healing of capital markets
Blackstone President and COO Jon Gray joins "Squawk Box' to discuss the company's quarterly earnings results, what to expect in Q4, state of the economy, the Fed's rate path outlook, impact of the 2024 election, state of the private credit market, and more.
Blackstone Earnings Beat Estimates. CEO Cites a ‘Broad-Based Acceleration.
The money manager reports third-quarter distributable earnings of $1.01 per share, higher than Wall Street's call for 91 cents.
