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Blackstone Inc. (BX) Strikes $119.12: The Risk Seems Worthwhile At This Price

Blackstone Inc. (NYSE:BX) price on Friday, May 27, rose 0.70% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $119.12.

A look at the stock’s price movement, the level at last check in today’s session was $118.30, moving within a range at $111.208 and $118.75. The beta value (5-Year monthly) was 1.31 while the PE ratio in trailing twelve months stood at 16.13. Turning to its 52-week performance, $149.78 and $91.11 were the 52-week high and 52-week low respectively. Overall, BX moved 10.08% over the past month.

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Blackstone Inc.’s market cap currently stands at around $139.40 billion, with investors looking forward to this quarter’s earnings report slated for Apr 20, 2022 – Apr 25, 2022. The company has a Forward Dividend ratio of 5.38, with its dividend yield at 4.55%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be $1.47, which has seen fiscal year 2022 EPS growth forecast to increase to $5.76 and about $6.35 for fiscal year 2023. Per the data, EPS growth is expected to be 20.80% for 2022 and 10.20% for the next financial year.

Analysts have a consensus estimate of $3.8 billion for the company’s revenue for the quarter, with a low and high estimate of $2.96 billion and $4.24 billion respectively. The average forecast suggests up to a 79.40% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2022 to grow to $13.61 billion, representing a 16.70% jump on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that BX is a 50% Sell. On the other hand, the stock is on average a 50% Sell as suggested by medium term indicators while long term indicators are putting the stock in 50% Sell category.

17 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 6 analyst(s) rate the stock as a Hold, 10 recommend BX as a Buy and 1 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.

The technical evaluation for the stock shows the PEG ratio is 0.81, with BX’s current price about 13.10% and 4.92% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 61.70, while 7-day volatility ratio is 5.15% and 5.35% in the 30-day chart. Further, Blackstone Inc. (BX) has a beta value of 1.34, and an average true range (ATR) of 5.78. Analysts have given the company’s stock an average 52-week price target of $148.58, forecast between a low of $122.00 and high of $180.00. Looking at the price targets, the low is -2.42% off recent price level in today’s trading while to achieve the yearly target high, it has to move -51.11%. Nonetheless, investors will most likely welcome a -20.47% jump to $143.50 which is the analysts’ median price.

In the market, a comparison of Blackstone Inc. (BX) and its peers suggest the former has performed considerably stronger. Data shows BX’s intraday price has changed 0.70% today and 28.38% over the past year. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 1.65% and 0.96% respectively on the day as seen in early trades.

If we refocus on Blackstone Inc. (NYSE:BX), historical trading data shows that trading volumes averaged 4.9 million over the past 10 days and 4.66 million over the past 3 months. The company’s latest data on shares outstanding shows there are 734.33 million shares.

The 0.70% of Blackstone Inc.’s shares are in the hands of company insiders while institutional holders own 64.50% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 11.06 million on Apr 28, 2022, giving us a short ratio of 2.69. The data shows that as of Apr 28, 2022 short interest in Blackstone Inc. (BX) stood at 1.58% of shares outstanding, with shares short rising to 8.52 million registered in Mar 30, 2022. Current price change has pushed the stock -8.57% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the BX stock continues to rise going into the next quarter.

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