Blackstone Inc. (NYSE:BX) saw a downside of -0.47% to $98.32 after subtracting -$0.47 on Tuesday. The 5-day average trading volume is 1,996,300 shares of the company’s common stock. It has gained $99.87 in the past week and touched a new high 3 times within the past 5 days. An average of 3,125,900 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,553,534.
BX’s 1-month performance is -6.11% or -$6.73 on its low of $95.18 reached on 08/18/23. The company’s shares have touched a 52-week low of $71.44 and high of $109.56, with the stock’s rally to the 52-week high happening on 07/19/23. YTD, BX has achieved 33.05% or $23.97 and has reached a new high 21 times. However, the current price is down -10.26% from the 52-week high price.
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Insider Transactions
BX stock investors last saw insider trading activity on Aug 14.Blackstone Inc. (10% Owner) most recently sold 17,250,000 shares at $11.57 per share on Aug 14. This transaction cost the insider $199,582,500. , Juno Lower Holdings L.P., sold 2,598,609 shares at a price of $27.80 on Aug 14. Then, on Jul 26, Chief Accounting Officer Payne David sold 10,000 shares at a price of $103.22 per share. This transaction amounted to $1,032,200.
Valuation Metrics
BX stock has a beta of 1.49. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 16.92 while the price-to-book (PB) in the most recent quarter is 10.33, with the price to cash flow ratio at 33.52.
As well, the company’s long term debt to equity for the quarter ending June 29 was 1.70, while the total debt to equity was 1.71. The firm’s gross profit as reported stood at $3.54 billion against revenue of $8.52 billion.
Earnings Surprise
For the quarterly period ending June 29 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income grew 104.89% to $601.27 million, while revenue of $85.81 million was 85.73% off the previous quarter. Analysts expected BX to announce $0.92 per share in earnings in its latest quarter, but it posted $0.93, representing a 1.10% surprise. EBITDA for the quarter stood at more than $1.46 billion. Shareholders hold equity totaling $709.75 million.
Let’s look briefly at Blackstone Inc. (BX) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 21 August was 39.57% to suggest the stock is trending Neutral, with historical volatility in this time period at 23.75%.
The stock’s 5-day moving average is $97.87, reflecting a +0.71% or $0.69 change from its current price. BX is currently trading -5.97% above its 20-day SMA, +15.24% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +11.31% and SMA200 by+6.30%.
Stochastic %K and %D was 33.99% and 24.31% and the average true range (ATR) pointed at 2.20. The RSI (14) points at 44.42%, while the 14-day stochastic is at 32.10% with the period’s ATR at 2.33. The stock’s 9-day MACD Oscillator is pointing at 0.40 and -1.20 on the 14-day charts.
Analyst Ratings
In the most recent analyst report for Blackstone Inc. (NYSE: BX), JP Morgan downgraded it to a Neutral rating. They previously had an Overweight rating on the stock. Analysts offering their rating for BX stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate BX as a “sell,”, while 6 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 1 rates the stock as overweight while 13 have offered a “buy” rating.
What is BX’s price target for the next 12 months?
Analysts have a consensus price target ranging from a low of $94.00 and a high of $125.00, with their median price target at $114.00. Looking at these predictions, the average price target given by analysts is for Blackstone Inc. (BX) stock is $111.89.
