These Analysts Slash Their Forecasts On Blackstone Following Downbeat Earnings

Blackstone Inc. 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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