Is Wall Street High Or Low On Blackstone Inc. (BX)?


Blackstone Inc. (NYSE:BX) finished Thursday with an addition of $1.99 to close at $85.06, an upside of 2.40 percent. An average of 4,498,120 shares of common stock have been traded in the last five days. There was a gain of $8.47 in the past week, and it reached a new high 5 times over the past 12 months. The last 20 days have seen an average of 5,025,480 shares traded, while the 50-day average volume stands at 5,834,678.

BX stock has increased by 3.14% in the last month. The company shares reached their 1-month lowest point of $71.72 on 12/28/22. With the stock rallying to its 52-week high on 01/12/23, shares of the company touched a low of $71.72 and a high of $138.38 in 52 weeks. It has reached a new high 6 times so far this year and achieved 14.65% or $10.87 in price. In spite of this, the price is down -38.53% from the 52-week high.

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Insider Transactions

BX stock investors should be aware that Blackstone Inc. (BX) stock had its last reported insider trading activity 30 days ago on Dec 14. In this transaction, the insider spent $50,732,544. 10% Owner, Blackstone Holdings III L.P., disposed of 12,154,671 shares at a price of $7.46 on Nov 17. The insider now owns more than $90,673,846 worth of shares. Prior to that, 10% Owner Blackstone Holdings III L.P. went on to Sale 85,000 shares at $33.45 each on Nov 15. An amount of $2,842,978 was transacted.

Valuation Metrics

Blackstone Inc. (BX) has a trailing price-to-earnings (P/E) ratio of 24.01. The stock’s beta is 1.44. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 7.93, the price-to-book (PB) ratio at 8.32.

The company has a payout ratio of 144.80%. The company’s most recent quarterly dividend payment was $0.90 a share, representing a down of -29.13% from $1.27 last year. Its latest decrease dividend $0.37 reported on Thursday October 20 2022.

Financial Health

Further, the company has a long term debt to equity ratio of 1.22 and a total debt to equity ratio of 1.27 for the quarter ending September 29. Its gross profit as reported stood at $13.1 billion compared to revenue of $22.58 billion.

For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Blackstone Inc.’s return on assets was 6.20%.

Earnings Surprise

For the three-month period that ended September 29, Blackstone Inc. had $9.26 billion in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of $2.3 million in the quarter, while revenues of -$29.39 million were shrunk -60852.17%. The analyst consensus anticipated Blackstone Inc.’s latest quarter earnings to come in at $0.99 per share, but it turned out to be $1.06, a 7.10% surprise. For the quarter, EBITDA amounted to $192.15 million. At the end of the quarter ending September 29, Blackstone Inc.’s stock balance sheet showed total debt was $10.66 billion. Shareholders own equity worth $701.78 million.

Technical Picture

From a technical analysis perspective, let’s take a brief look at Blackstone Inc. (BX) price momentum. RSI 9-day as of the close on 12 January was 71.02%, suggesting the stock is Overbought, with historical volatility in this time frame at 33.75%.

As of today, BX’s price is $81.69 +11.06% or $8.47 from its 5-day moving average. BX is currently trading +1.94% higher than its 20-day SMA and -17.66% lower than its 100-day SMA. However, the stock’s current price level is -6.67% below the SMA50 and -31.70% below the SMA200.

The stochastic %K and %D were 94.59% and 91.31%, respectively, and the average true range (ATR) was 2.79. With the 14-day stochastic at 100.00% and the average true range at 3.06, the RSI (14) stands at 60.68%. The stock has reached 3.62 on the 9-day MACD Oscillator while the 14-day reading was at 5.51.

Analyst Ratings

Wells Fargo upgraded Blackstone Inc. (NYSE: BX) to a an Overweight rating in its most recent analyst report. Previously, the stock was rated as an Equal weight. The consensus rating for Blackstone Inc. (BX) among analysts is Overweight. According to current brokerage recommendations, 1 brokerage firm advise that investors sell BX, while 7 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 12 others rate it as a “buy”.

What is BX’s price target for the next 12 months?

Analysts predict a range of price targets between $67.50 and $113.00, with a median target of $100.00. Taking a look at these predictions, the average price target given by analysts for Blackstone Inc. (BX) stock is $97.38.


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