At the last check on Friday, Blackstone Inc.’s (NYSE:BX) stock was up $2.09, moving up 2.15 percent to $98.89. The average number of shares traded per day over the past five days has been 2,286,172 shares. 1 time new highs have been achieved over the past 5 days, with a $0.31 gain in that time frame. In the last twenty days, the average volume was 3,129,753, while in the previous 50 days, it was 3,566,645.
Since last month, BX stock retreated -7.66%. Shares of the company fell to $95.21 on 08/18/23, the lowest level in the past month. A 52-week high of $109.56 was reached on 07/19/23 after having rallying from a 52-week low of $71.44. Since the beginning of this year, BX’s stock price has risen by 33.81% or $24.49, and marked a new high 21 times. However, the stock has declined by -9.75% since its 52-week high.
BX stock investors should be aware that Blackstone Inc. (BX) stock had its last reported insider trading activity 4 days ago on Aug 14. Blackstone Inc., the 10% Owner of the company, disposed of 17,250,000 shares for $11.57 on Aug 14. It resulted in a $199,582,500 divestment by the insider. Juno Lower Holdings L.P. sold 2,598,609 shares at an average price of $27.80 on Aug 14. The insider now owns 0 shares following the transaction. On Aug 08, Director Porat Ruth bought 73 shares at $102.42 apiece. The transaction was valued at $7,462.
Valuation Metrics
Right now, Blackstone Inc. (BX) has a P/E ratio of about 59.50. The stock’s beta is 1.49. Besides these, the trailing price-to-sales (P/S) ratio of 17.67, the price-to-book (PB) ratio of 10.39, and the price-to-cash flow ratio of 35.02 may also be considered.
The latest dividend of $0.79 per share was paid out, which is -3.66% less than last year’s $0.82. On Thursday July 20 2023, a $0.03 dividend decrease was announced.
Financial Health
According to company report, the long-term debt-to-equity ratio for the quarter ending June 30 was 1.70, and the total debt-to-equity ratio was 1.71. In the year ended June 30, operating margins totaled 32.80%. Based on annual data, BX earned $3.54 billion in gross profit and brought in $8.52 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 15.40%. Return on equity (ROE) for the past 12 months was 16.90%.
In Blackstone Inc.’s quarter-end financial report for June 30, it reported total debt of $12.3 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. BX’s revenue rose 77.65% to $1.38 billion during the quarter, while net income inched up to $2.81 billion. While analysts expected Blackstone Inc. to report $0.92 quarterly earnings, the actual figure was $0.93 per share, beating the consensus estimate by 1.10%. During the quarter, the company generated $1.46 billion in EBITDA. The value of shareholders’ equity is $709.75 million.
Technical Picture
This quick technical analysis looks at Blackstone Inc.’s (BX) price momentum. With a historical volatility rate of 26.15%, the RSI 9-day stood at 42.15% on 17 August.
With respect to its five-day moving average, the current Blackstone Inc. price is up by +0.32% percent or $0.31. At present, BX shares trade -5.92% below its 20-day simple moving average and +17.22% percent above its 100-day simple moving average. However, the stock is currently trading approximately +13.04% above its SMA50 and +8.28% above its SMA200.
Stochastic coefficient K was 13.49% and Stochastic coefficient D was 9.10%, while ATR was 2.37. Given the Stochastic reading of 30.56% for the 14-day period, the RSI (14) reading has been calculated as 46.08%. As of today, the MACD Oscillator reading stands at -1.46, while the 14-day reading stands at -3.15.
Analyst Ratings
Blackstone Inc. downgraded its rating on Blackstone Inc. (NYSE: BX) to a Neutral in a note to investors on July 21, 2023. The analysts firm previously had an Overweight rating on the stock.Blackstone Inc. (BX) has been rated Overweight by analysts. According to 0 brokerage firms, BX is a sell, and 6 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate Blackstone Inc. stock as buy, with 13 recommending it as overweight.
With a median target price of $114.00, the current consensus forecast for the stock is $94.00 – $125.00. Based on these forecasts, analysts predict Blackstone Inc. (BX) will achieve an average price target of $111.89.
