Blackstone Inc (NYSE:BX) saw a downside of -0.79% to close Monday at $110.30 after subtracting -$0.88 on the day. The 5-day average trading volume is 5,124,860 shares of the company’s common stock. It has gained $116.78 in the past week and touched a new high 2 times within the past 5 days. An average of 12,083,140 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 6,930,708.
BX’s 1-month performance is 11.39% or $10.64 on its low of $100.21 reached on 08/28/23. The company’s shares have touched a 52-week low of $71.44 and high of $116.78, with the stock’s rally to the 52-week high happening on 09/20/23. YTD, BX has achieved 49.25% or $36.11 and has reached a new high 29 times. However, the current price is down -5.55% from the 52-week high price.
Insider Transactions
BX stock investors last saw insider trading activity on Sep 21.Parrett William G (Director) most recently sold 3,874 shares at $112.47 per share on Sep 08. This transaction cost the insider $435,709. 10% Owner, Blackstone Holdings I/II GP L., sold 14,704,603 shares at a price of $7.98 on Aug 22. Then, on Aug 14, 10% Owner Blackstone Inc. sold 17,250,000 shares at a price of $11.57 per share. This transaction amounted to $199,582,500.
Valuation Metrics
BX stock has a beta of 1.46. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 12.97 while the price-to-book (PB) in the most recent quarter is 18.63, with the price to cash flow ratio at 110.06.
As well, the company’s long term debt to equity for the quarter ending June 29 was 1.83, while the total debt to equity was 1.85. In terms of profitability, the gross margin trailing 12 months is 98.49%. 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 25 September was 49.18% to suggest the stock is trending Neutral, with historical volatility in this time period at 24.59%.
The stock’s 5-day moving average is $112.39, reflecting a -3.56% or -$4.07 change from its current price. BX is currently trading +10.68% above its 20-day SMA, +30.29% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +6.03% and SMA200 by+40.10%.
Stochastic %K and %D was 46.50% and 61.36% and the average true range (ATR) pointed at 2.43. The RSI (14) points at 55.90%, while the 14-day stochastic is at 37.93% with the period’s ATR at 2.44. The stock’s 9-day MACD Oscillator is pointing at -1.97 and -1.38 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.
