As of Thursday close, Blackstone Inc.’s (NYSE:BX) stock was up $1.48, moving up 1.41 percent to $106.37. The average number of shares traded per day over the past five days has been 2,844,380 shares. 5 times new highs have been achieved over the past 5 days, with a $7.35 gain in that time frame. In the last twenty days, the average volume was 2,797,765, while in the previous 50 days, it was 3,481,580.
Since last month, BX stock rose 3.38%. Shares of the company fell to $95.18 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 43.93% or $32.18, and marked a new high 21 times. However, the stock has declined by -2.91% since its 52-week high.
BX stock investors should be aware that Blackstone Inc. (BX) stock had its last reported insider trading activity 10 days ago on Aug 22. Blackstone Holdings I/II GP L., the 10% Owner of the company, disposed of 14,704,603 shares for $7.98 on Aug 22. It resulted in a $117,342,732 divestment by the insider. Blackstone Inc. sold 17,250,000 shares at an average price of $11.57 on Aug 14. The insider now owns 169,223 shares following the transaction. On Aug 14, Juno Lower Holdings L.P. sold 2,598,609 shares at $27.80 apiece. The transaction was valued at $72,241,330.
Valuation Metrics
Right now, Blackstone Inc. (BX) has a P/E ratio of about 64.00. The stock’s beta is 1.49. Besides these, the trailing price-to-sales (P/S) ratio of 18.55, the price-to-book (PB) ratio of 11.17, and the price-to-cash flow ratio of 36.74 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 29 was 1.70, and the total debt-to-equity ratio was 1.71. In the year ended June 29, 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 29, 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 19.35%, the RSI 9-day stood at 76.33% on 31 August.
With respect to its five-day moving average, the current Blackstone Inc. price is up by +7.42% percent or $7.35. At present, BX shares trade +3.66% above its 20-day simple moving average and +30.37% percent above its 100-day simple moving average. However, the stock is currently trading approximately +19.34% above its SMA50 and -2.21% below its SMA200.
Stochastic coefficient K was 95.77% and Stochastic coefficient D was 84.74%, while ATR was 2.24. Given the Stochastic reading of 94.35% for the 14-day period, the RSI (14) reading has been calculated as 68.38%. As of today, the MACD Oscillator reading stands at 3.87, while the 14-day reading stands at 5.20.
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.
