The Q2 2024 results of Blackstone (BX) indicate a modest profit rise and significant investment activity, underpinning the company's robust performance despite a slight dip in earnings. Additionally, Blackstone continues to expand its footprint in various sectors, evident from its plans to acquire Trystar, a premier provider of backup power solutions. The firm also raised price targets multiple times during the quarter from various banks such as Piper Sandler and Bank of America. However, analysts noted that Blackstone's stock has outperformed its underlying earnings growth in the past five years. An unusually high level of options trading surrounding Blackstone was also reported.
Despite exceeding earnings estimates with an EPS of $1.20 and revenue of $2.5 billion, Blackstone's stock took a slight hit. Nevertheless, the strong growth in assets under management (AUM) and healthy investment activity were the leading highlights of the earnings call. Other news include Blackstone’s initiative to grant equity to employees in future US buyouts and a potential collaboration to support Moderna's Influenza Program.
Blackstone BX News Analytics from Thu, 07 Dec 2023 08:00:00 GMT to Sun, 21 Jul 2024 09:30:56 GMT - Rating 5 - Innovation 3 - Information 8 - Rumor 0
