The stock of Blackstone Inc. (NYSE:BX) increased by $2.37 on Tuesday to at $103.25, up 2.34 percent. The last five days have seen an average of 1,750,258 shares of common stock traded. 21 times new highs were reached in the current year, with a gain of $28.83. The average number of shares traded over the last 20 days was 2,741,685, while the average volume over the last 50 days totaled 3,393,980.
BX stock dropped -1.47% since last month. On 08/18/23, the company’s shares reached a one-month low of $95.18. The stock touched a high of $109.56 on 07/19/23, after rallying from a low of $71.44 in 52 weeks. The price of BX stock has risen by 39.71% or $28.83 this year, reaching a new high 21 times. Still, the stock price is down -5.77% from the 52-week high.
Insider Transactions
BX stock investors should be aware that Blackstone Inc. (BX) stock had its last reported insider trading activity 7 days ago on Aug 22. On Aug 22, 10% Owner Blackstone Holdings I/II GP L. sold 14,704,603 shares at $7.98 each. This transaction resulted in the insider making $117,342,732. On Aug 14, Blackstone Inc. sold 17,250,000 shares at a price of US$11.57. After the transaction, the insider now owns 169,223 shares. Juno Lower Holdings L.P. had earlier sold 2,598,609 shares on Aug 14 for $27.80 a share. The transaction was completed for $72,241,330.
Valuation Metrics
Blackstone Inc. (BX) has a trailing price-to-earnings (P/E) ratio of 62.12. Beta for the stock is 1.49. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 18.00, the price-to-book (PB) ratio of 10.85, and the price-to-cash flow ratio of 35.66.
Company paid $0.79 per share in dividends, a decrease of -3.66% from $0.82 last year. A $0.03 dividend decrease was reported on Thursday July 20 2023.
Financial Health
The company’s long-term debt to equity ratio for the quarter ending June 29 is 1.70, and the total debt to equity ratio is 1.71. Blackstone Inc.’s operating margin stood at 32.80% for the same period. Based on annual data, it had gross profit of $3.54 billion and revenue of $8.52 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. BX’s return on assets (ROA) during the last 12 months has been 3.00%. There was a 15.40% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 16.90%.
Earnings Surprise
According to Blackstone Inc.’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $2.81 billion, while revenues rose by 77.65% to $1.38 billion. It was predicted that Blackstone Inc.’s quarterly earnings would be $0.93, but it ended up being $0.92, beating the consensus by 1.10%. EBITDA was $1.46 billion for the quarter. At the end of Blackstone Inc.’s most recent quarter ended June 29, its total debt was $13.42 billion. Equity owned by shareholders amounts to $709.75 million.
Technical Picture
Here’s a quick look at Blackstone Inc.’s (BX) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 66.93%, suggesting the stock is Neutral, with a 21.27% historical volatility rate.
The stochastic %K and %D were 72.32% and 57.44% respectively, while the average true range (ATR) was 2.15. Based on the 14-day stochastic reading of 99.49%, the RSI (14) reading is 60.85%. On the 9-day MACD Oscillator, the stock is at 1.76, and the 14-day reading is at 2.20.
Analyst Ratings
Blackstone Inc. (NYSE: BX) was downgraded by JP Morgan to a a Neutral rating in its latest research report. The stock was previously rated as a an Overweight. Analysts have assigned Blackstone Inc. (BX) an Overweight rating. BX is a stock that is recommended for selling by 0 brokerage firms, while 6 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 13 others recommend it as a buy.
What is BX’s price target for the next 12 months?
The current consensus forecast for the stock is between $94.00 and $125.00, with a median target price of $114.00. In analyzing these forecasts, the average price target given by analysts for Blackstone Inc. (BX) is $111.89.
