At the time of writing, Blackstone Inc [BX] stock is trading at $126.10, up 1.96%. It is a good measure of the stock’s recent performance to check whether the stock’s short-term value is rising or falling. The BX shares have gain 2.27% over the last week, with a monthly amount drifted -3.06%, and not seem to be holding up well over a long-time horizon.
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On 12, March 2024, Aligned Data Centers and Blackstone Credit & Insurance Announce Financing Relationship. In a post published today on Yahoo Finance, Blackstone Credit & Insurance (“BXCI”) and Aligned Data Centers, a leading technology infrastructure company offering innovative, sustainable, and adaptive Scale Data Centers and Build-to-Scale solutions for global hyperscale and enterprise customers, today announced a new strategic partnership. Blackstone has provided an initial $600 million senior secured credit facility to support the development of Aligned’s newest and largest data center in West Jordan, Utah. The senior secured credit facility is committed entirely by insurance accounts managed by BXCI’s Infrastructure & Asset Based Credit Group.
From an analyst’s perspective:
Blackstone Inc [NYSE: BX] stock has seen the most recent analyst activity on January 19, 2024, when Citigroup downgraded its rating to a Neutral and also boosted its price target to $124 from $116. Previously, Oppenheimer downgraded its rating to Perform on January 11, 2024. On January 04, 2024, TD Cowen initiated with a Market Perform rating and assigned a price target of $118 on the stock. Goldman downgraded its rating to a Neutral and increased its price target to $128 on January 03, 2024. In a note dated October 06, 2023, HSBC Securities initiated an Hold rating and provided a target price of $113 on this stock.
For the past year, the stock price of Blackstone Inc fluctuated between $74.89 and $132.88. Currently, Wall Street analysts expect the stock to reach $120.93 within the next 12 months. Blackstone Inc [NYSE: BX] shares were valued at $126.10 at the most recent close of the market. An investor can expect a potential drop of -4.1% based on the average BX price forecast.
Analyzing the BX fundamentals
According to Blackstone Inc [NYSE:BX], the company’s sales were 10.27B for trailing twelve months, which represents an 14.43% jump. Gross Profit Margin for this corporation currently stands at 0.68% with Operating Profit Margin at 0.27%, Pretax Profit Margin comes in at 0.34%, and Net Profit Margin reading is 0.24%. To continue investigating profitability, this company’s Return on Assets is posted at 0.05, Equity is 0.3 and Total Capital is 0.06. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 1.68.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 124.24 points at the first support level, and at 122.39 for the second support level. However, for the 1st resistance point, the stock is sitting at 127.18, and for the 2nd resistance point, it is at 128.27.
Blackstone Inc [BX] reported earnings per share of $1.11 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.95/share, meaning a difference of $0.16 and a surprise factor of 16.80%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.94 per share as compared to estimates of $1.01 per share, a difference of -$0.07 representing a surprise of -6.90%.
Ratios To Look Out For
Considering the valuation of this stock, the price to sales ratio is 14.87, the price to book ratio is 22.50 and price to earnings (TTM) ratio is 68.68.
Transactions by insiders
Recent insider trading involved BX Buzz ML-1 GP LLC, 10% Owner, that happened on Mar 03 ’24 when 2.51 million shares were sold. Director, Brown Reginald J completed a deal on Feb 21 ’24 to buy 2400.0 shares. Meanwhile, 10% Owner Blackstone Inc. sold 24.28 million shares on Feb 16 ’24.
