Blackstone Secured Lending Fund (NYSE:BXSL) Posts Earnings Results, Misses Estimates By $0.02 EPS

Blackstone Secured Lending Fund (NYSE:BXSL) posted its quarterly earnings data on Wednesday. The company reported $0.84 earnings per share for the quarter, missing the consensus estimate of $0.86 by ($0.02), Zacks reports. Blackstone Secured Lending Fund had a net margin of 53.91% and a return on equity of 13.15%.

Blackstone Secured Lending Fund Stock Down 3.2 %

NYSE:BXSL traded down $1.09 during mid-day trading on Wednesday, reaching $32.88. The company’s stock had a trading volume of 950,985 shares, compared to its average volume of 1,039,849. Blackstone Secured Lending Fund has a 1 year low of $27.76 and a 1 year high of $34.64. The stock has a fifty day moving average of $32.93 and a 200-day moving average of $31.46. The firm has a market capitalization of $7.36 billion, a PE ratio of 9.14 and a beta of 0.43.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on BXSL shares. JPMorgan Chase & Co. boosted their target price on Blackstone Secured Lending Fund from $33.00 to $33.50 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Wells Fargo & Company boosted their price objective on Blackstone Secured Lending Fund from $29.00 to $31.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 29th. Finally, Compass Point cut their target price on shares of Blackstone Secured Lending Fund from $33.50 to $32.25 and set a “buy” rating on the stock in a report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Blackstone Secured Lending Fund presently has an average rating of “Moderate Buy” and a consensus price target of $32.13.

About Blackstone Secured Lending Fund

Blackstone Secured Lending Fund is business development company and a Delaware statutory trust formed on March 26, 2018, and structured as an externally managed, non-diversified closed-end investment Fund. On October 26, 2018, the fund elected to be regulated as a business development company (BDC) under the Investment Company Act of 1940, as amended (the 1940 Act).