The stock price of Blackstone Inc (NYSE: BX) has dropped by -1.17 compared to previous close of 154.94. Despite this, the company has seen a fall of -2.60% in its stock price over the last five trading days. seekingalpha.com reported 2024-09-28 that The high-yield space has undergone a sharp bifurcation recently. We discuss what this bifurcation is and what is driving it. We discuss two quality and growing 10%-yields that are way too cheap right now.
Is It Worth Investing in Blackstone Inc (NYSE: BX) Right Now?
Blackstone Inc (NYSE: BX) has a higher price-to-earnings ratio of 58.43x compared to its average ratio, The 36-month beta value for BX is at 1.50. Analysts have varying views on the stock, with 6 analysts rating it as a “buy,” 6 rating it as “overweight,” 2 as “hold,” and 0 as “sell.”
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The public float for BX is 712.76M, and currently, shorts hold a 2.61% of that float. The average trading volume for BX on October 01, 2024 was 3.46M shares.
BX’s Market Performance
BX’s stock has seen a -2.60% decrease for the week, with a 8.93% rise in the past month and a 25.69% gain in the past quarter. The volatility ratio for the week is 2.09%, and the volatility levels for the past 30 days are at 2.57% for Blackstone Inc. The simple moving average for the past 20 days is 2.95% for BX’s stock, with a 19.50% simple moving average for the past 200 days.
Analysts’ Opinion of BX
Many brokerage firms have already submitted their reports for BX stocks, with Wells Fargo repeating the rating for BX by listing it as a “Overweight.” The predicted price for BX in the upcoming period, according to Wells Fargo is $163 based on the research report published on September 12, 2024 of the current year 2024.
Redburn Atlantic, on the other hand, stated in their research note that they expect to see BX reach a price target of $134. The rating they have provided for BX stocks is “Neutral” according to the report published on August 27th, 2024.
UBS gave a rating of “Neutral” to BX, setting the target price at $135 in the report published on April 02nd of the current year.
BX Trading at 8.32% from the 50-Day Moving Average
After a stumble in the market that brought BX to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -5.04% of loss for the given period.
Volatility was left at 2.57%, however, over the last 30 days, the volatility rate increased by 2.09%, as shares surge +7.57% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +10.49% upper at present.
During the last 5 trading sessions, BX fell by -2.60%, which changed the moving average for the period of 200-days by +35.26% in comparison to the 20-day moving average, which settled at $149.29. In addition, Blackstone Inc saw 18.35% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at BX starting from Blackstone Inc., who sale 30,539,203 shares at the price of $16.58 back on Aug 21 ’24. After this action, Blackstone Inc. now owns 31,805 shares of Blackstone Inc, valued at $506,339,986 using the latest closing price.
Finley John G, the Chief Legal Officer of Blackstone Inc, sale 35,000 shares at $131.74 during a trade that took place back on Aug 07 ’24, which means that Finley John G is holding 429,386 shares at $4,610,900 based on the most recent closing price.
Stock Fundamentals for BX
Current profitability levels for the company are sitting at:
- 0.53 for the present operating margin
- 0.99 for the gross margin
The net margin for Blackstone Inc stands at 0.22. The total capital return value is set at 0.14. Equity return is now at value 28.40, with 4.86 for asset returns.
Based on Blackstone Inc (BX), the company’s capital structure generated 0.61 points at debt to capital in total, while cash flow to debt ratio is standing at 0.23. The debt to equity ratio resting at 1.58. The interest coverage ratio of the stock is 11.12.
Currently, EBITDA for the company is 3.48 billion with net debt to EBITDA at 1.89. When we switch over and look at the enterprise to sales, we see a ratio of 21.64. The receivables turnover for the company is 1.78for trailing twelve months and the total asset turnover is 0.22.
Conclusion
In conclusion, Blackstone Inc (BX) has had a better performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
