Blackstone Inc (NYSE:BX) shares, rose in value, with the stock price up by 1.25% to the previous day’s close as strong demand from buyers drove the stock to $127.58.
Actively observing the price movement in the last trading, the stock closed the session at $126.01. The value of beta (5-year monthly) was 1.50 whereas the PE ratio was 69.49 over 12-month period. Referring to stock’s 52-week performance, its high was $133.56, and the low was $77.94. On the whole, BX has fluctuated by 3.47% over the past month.
With the market capitalization of Blackstone Inc currently standing at about $154.61 billion, investors are eagerly awaiting this quarter’s results, scheduled for Apr 18, 2024 – Apr 22, 2024. The company’s Forward Dividend Ratio is 3.35, with its dividend yield at 2.63%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.98, which is expected to increase to $1.23 for fiscal year $4.96 and then to about $6.13 by fiscal year 2025. Data indicates that the EPS growth is expected to be 25.60% in 2025, while the next year’s EPS growth is forecast to be 23.60%.
Analysts have estimated the company’s revenue for the quarter at $2.53 billion, with a low estimate of $2.38 billion and a high estimate of $2.83 billion. According to the average forecast, sales growth in current quarter could jump up 1.60%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $12.35 billion, representing an increase of 27.40% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that BX’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 3.16, with the price of BX currently trading nearly 0.52% and 1.05% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 51.27, while the 7-day volatility ratio is showing 2.09% which for the 30-day chart, stands at 2.21%. Furthermore, Blackstone Inc (BX)’s beta value is 1.49, and its average true range (ATR) is 3.08.
A comparison of Blackstone Inc (BX) with its peers suggests the former has fared considerably weaker in the market. BX showed an intraday change of 1.25% in last session, and over the past year, it grew by 59.84%%.
Data on historical trading for Blackstone Inc (NYSE:BX) indicates that the trading volumes over the past 10 days have averaged 2.58 million and over the past 3 months, they’ve averaged 3.71 million. According to company’s latest data on outstanding shares, there are 719.36 million shares outstanding.
Nearly 41.65% of Blackstone Inc’s shares belong to company insiders and institutional investors own 41.74% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 23.64 million shares as on Mar 15, 2024, resulting in a short ratio of 5.43. According to the data, the short interest in Blackstone Inc (BX) stood at 3.14% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 23.73 million. The stock has fallen by -2.07% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the BX stock heading into the next quarter.
