As is the current weakness in BX share price. Lowering the estimate for the current quarter a few pennies? Are you kidding me? How can they be so exact? Do they have a spy in BX accounting department? What's the point of lowering the "price target" but saying "we still think you should buy this stock"? With today's geo-political morass combined with day-traders, options players, swing traders, high-frequency trades and obvious market manipulations, putting a price target on a stock like BX is BS.
For BX to be down 5% for the year, with their earnings, is unfathomable. It could be worse; look at CG. The take-away? In a rational market, no way could this stock have acted like this for the year. But this market isn't rational, it's a casino.
Distributable earnings, which show actual cash that is available to pay dividends, rose 115 percent in the third quarter to $672 million.
Assets under management were $284 billion at the end of September, up from $279 billion at the end of June.
Blackstone declared a quarterly distribution of 44 cents per common unit.
CNBC interviewed him for about 5 uninterrupted minutes. Very impressive and someone I feel comfortable investing my hard earned $$. This stock should see 40 next year even if the market is flat.
What, for the sake of discussion, would you like BX to do? Share buybacks might be a temporary boost, but I only want my companies to do that when they don't have a better use for capital. I want BX to do what it has been doing, which is to make money. In the long run, the market acts as a weighing machine, so the shareholders win when they do that.
Drops in stock prices like this will happen regardless of how well a company is managed, and they represent an opportunity to buy at a discounted price. If you can't accept that truth about the market, then maybe other investments might be better for you.
Based on the current price, BX is returning 7-8% in dividend. I would actually encourage them to consider buying the stock. Some of hedgies are using it as a proxy. With less float, there will be less volitality.
Sentiment: Strong Buy
What's obviously wrong is that you are in the picture; if you are so convinced that you're being played, then you are irrational to participate. Sell and move on.
The market will go up and down, often for no good reason. The same is true for individual stocks. If you can't accept that then you shouldn't dabble in the market.
well I am an engineer and love technical analysis..also was a stock broker with E. F. Hutton and own over 3,000 BX..my largest position...there are several MDA formats....the one I use shows these numbers..50 dma 30.76, 200 dma 31.29 and 100 dma is 31.77.....some charts do not adjust for dividends....this one does... so BX is above all 3....as I have mentioned I saw a head shoulder reversal..bottom to neckline is about 4 points..so the measured move is from the 31 NL up 4 to 35 objective or old adjusted high..of course I thinnk it should go up more... I would buy more excpt the stocastics show overbought so not a low risk buy for me...
sam, I think you are right, but it appears you and I are among the very few who recognize BX is a screaming buy. Unfortunately I am out of cash and I cannot take advantage of these good prices. No one seems to be buying BX. Day after day BX is the worst performer on my board. It is also my largest holding and I really would like to see the price go up.
Keep posting good news and maybe others will start buying.
I know you're not suppose to fall in love with a stock but I sure have fond feeling for this one!
reap profits in europe at bargain basement prices here in a couple of years then find next fertile ground and rinse, recycle & repeat. The bx winning formula...hitch your wagon to this horse. We're still near initial IPO price...what a bargain!!!!
Sentiment: Strong Buy
BX is raising 4 BILLION to take advantage of bargin prices....Few ‘Difficulties'
Blackstone, based in New York, is raising its second energy-focused fund with a $4.5 billion target. The firm, which owns stakes in startup Vine Oil & Gas LP as well as Kosmos, is weighted more toward natural gas and electric power than oil, Schwarzman said at a financial conference this month. The price drop "has not created a lot of difficulties for us," Schwarzman, Blackstone's chief executive officer, said at the New York event.