Blackstone (NYSE:BX) Announces Quarterly Earnings Results

Blackstone (NYSE:BX) announced its quarterly earnings data on Thursday. The asset manager reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.06, Zacks reports. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.27 billion. Blackstone had a net margin of 22.11% and a return on equity of 23.16%. The business’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.80 earnings per share.

Here are the key takeaways from Blackstone’s conference call:

• Blackstone reported $1.7 billion in distributable earnings for Q3, or $1.32 per share, while total AUM increased 10% year over year to approximately $1.4 trillion. Fee-related earnings rose 6%, supported by continued growth in base management and performance-related fees.
• Fundraising momentum remained strong, with $63 billion of quarterly inflows and more than $270 billion over the past 12 months. Private wealth AUM grew 15% to $330 billion, insurance AUM rose 14% to over $300 billion, and several institutional funds reached or approached hard caps.
• Management expressed strong conviction in AI infrastructure, energy, and related financing opportunities, citing severe supply constraints and rising demand for compute. Blackstone emphasized its focus on long-term contracts, investment-grade counterparties, and asset-backed or senior financing to manage risks from technological obsolescence and higher interest rates.
• The company expects a significant increase in Q4 realizations, including multiple company sales and year-end performance-fee crystallizations. Management also expects a return to double-digit annual growth in base management fees in 2027, driven by new drawdown funds, perpetual strategies, credit insurance, and BXMA.
• Higher interest rates continued to pressure real estate valuations, with wider capitalization rates causing depreciation in opportunistic real estate funds; BREP declined 3.2% in Q3. Management expects real estate management fees to remain broadly stable through year-end and into 2027, while BCRED experienced $1.4 billion of net outflows after fulfilling roughly half of redemption requests.

Blackstone Trading Down 0.6%

BX opened at $118.01 on Friday. Blackstone has a fifty-two week low of $101.73 and a fifty-two week high of $165.14. The firm has a market capitalization of $88.58 billion, a PE ratio of 26.22, a P/E/G ratio of 1.47 and a beta of 1.59. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.71 and a quick ratio of 0.72. The company’s 50-day moving average is $124.91 and its 200 day moving average is $124.11.

Blackstone Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 9th. Investors of record on Monday, November 2nd will be issued a $1.12 dividend. The ex-dividend date is Monday, November 2nd. This represents a $4.48 dividend on an annualized basis and a dividend yield of 3.8%. This is a drop from Blackstone’s previous quarterly dividend of $1.29. Blackstone’s dividend payout ratio (DPR) is currently 114.67%.

Analyst Ratings Changes

BX has been the topic of a number of research reports. Keefe, Bruyette & Woods raised Blackstone to a “hold” rating in a research note on Monday, July 20th. Citizens Jmp cut their price target on Blackstone from $190.00 to $165.00 and set a “market outperform” rating on the stock in a report on Thursday, July 9th. Piper Sandler set a $126.00 price objective on Blackstone in a research note on Friday. Morgan Stanley restated an “overweight” rating and set a $165.00 price objective on shares of Blackstone in a report on Friday, October 16th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of Blackstone in a research report on Friday. Thirteen investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $144.57.

Blackstone News Roundup

Here are the key news stories impacting Blackstone this week:

• Positive Sentiment: Blackstone reported third-quarter distributable earnings of $1.32 per share, exceeding the $1.26 analyst consensus. Assets under management reached approximately $1.37 trillion, while net inflows exceeded $63 billion and fee-related earnings increased 6%. Blackstone Inc. surpasses Q3 earnings and revenue estimates
• Positive Sentiment: Management highlighted accelerating fee growth, strong fundraising and substantial opportunities in AI data centers and digital infrastructure. Blackstone’s infrastructure assets reportedly grew 40% year over year, reinforcing the longer-term growth narrative. BX Q3 earnings call highlights AI opportunities and fee growth
• Positive Sentiment: Blackstone’s financing of CoreWeave has positioned it to benefit from the rapidly expanding market for debt backed by AI chips and data-center infrastructure. Blackstone’s CoreWeave bet and AI lending boom
• Neutral Sentiment: JPMorgan lowered its BX price target modestly to $135 and maintained a Neutral rating, signaling potential upside but limited conviction after the earnings report. JPMorgan Blackstone rating and price target
• Negative Sentiment: Distributable earnings declined 13% year over year as choppy markets reduced investment exits; private-equity asset-sale proceeds fell sharply. Revenue also came in below some analyst estimates, highlighting pressure on realization-driven profits. Blackstone’s core businesses hit by rising rates
• Negative Sentiment: Blackstone declared a quarterly dividend of $1.12 per share, down from $1.29 previously. The 13.2% reduction may weigh on income-focused investors despite the approximately 3.8% indicated yield. Blackstone dividend analysis

Insider Activity

In related news, major shareholder Holdings Iv L.P. Blackstone purchased 191,695 shares of the firm’s stock in a transaction that occurred on Wednesday, September 23rd. The stock was acquired at an average price of $26.17 per share, for a total transaction of $5,016,658.15. Following the completion of the acquisition, the insider owned 8,895,478 shares of the company’s stock, valued at $232,794,659.26. This represents a 2.20% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings I. L.P. Blackstone sold 124,600 shares of the stock in a transaction on Friday, September 25th. The shares were sold at an average price of $16.40, for a total value of $2,043,440.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders purchased 464,792 shares of company stock worth $12,205,945 and sold 4,077,276 shares worth $37,573,644. Company insiders own 1.00% of the company’s stock.

Blackstone Company Profile

Blackstone Inc (NYSE:BX) is a global alternative asset management firm that provides investment and advisory services to institutional investors, companies, and qualified individual investors. The company manages capital across private equity, real estate, credit and insurance, infrastructure, hedge fund solutions, secondaries, and growth-oriented investments.

Blackstone invests in and manages portfolios of businesses, properties, infrastructure assets, and credit instruments across a range of industries.