Blackstone Inc [NYSE: BX] traded at a high on Wednesday, posting a 1.39 gain after which it closed the day’ session at $120.63. The company report on January 22, 2024 at 8:00 AM that Blackstone Announces Minority Growth Investment in Salas O’Brien.
Blackstone (NYSE: BX) and Salas O’Brien (the “Company”), a leading employee-owned engineering and technical services firm, announced today a partnership where funds managed by Blackstone have made a strategic minority growth investment to help accelerate the Company’s continued expansion within the fast-growing architectural, engineering, and construction (AEC) market. Salas O’Brien will continue to be majority owned by its team members.
“Salas O’Brien is thrilled to partner with Blackstone as we continue our journey of growth,” said Darin Anderson, Chairman and CEO of Salas O’Brien. “As more companies and institutions pursue their decarbonization, energy transition, and critical infrastructure goals, Salas O’Brien’s expertise has never been more needed in the world. Blackstone’s investment helps us gain greater access to talent, enhances our technology resources, and helps us better serve more clients. The fact that we can do all of this while retaining our employee ownership approach and in partnership with the incredible professionals at Blackstone is an amazing validation of our team’s hard work—and positions us to get even better.”.
The results of the trading session contributed to over 3710451 shares changing hands. Over the past one week, the price volatility of Blackstone Inc stands at 2.26% while the volatility over the past one month is 2.09%.
The market cap for BX stock reached $145.91 billion, with 710.28 million shares outstanding and 703.22 million shares in the current float. Compared to the average trading volume of 3.56M shares, BX reached a trading volume of 3710451 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Blackstone Inc [BX]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BX shares is $122.37 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BX stock is a recommendation set at 2.12. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Citigroup have made an estimate for Blackstone Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 19, 2024.
The Average True Range (ATR) for Blackstone Inc is set at 2.98, with the Price to Sales ratio for BX stock in the period of the last 12 months amounting to 14.66. The Price to Book ratio for the last quarter was 20.59, with the Price to Cash per share for the same quarter was set at 2.57. Price to Free Cash Flow for BX in the course of the last twelve months was 109.87.
How has BX stock performed recently?
Blackstone Inc [BX] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.12. With this latest performance, BX shares dropped by -6.59% in over the last four-week period, additionally plugging by 16.47% over the last 6 months – not to mention a rise of 39.46% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BX stock in for the last two-week period is set at 50.66, with the RSI for the last a single of trading hit 49.56, and the three-weeks RSI is set at 52.71 for Blackstone Inc [BX]. The present Moving Average for the last 50 days of trading for this stock 117.27, while it was recorded at 119.35 for the last single week of trading, and 101.67 for the last 200 days.
Earnings analysis for Blackstone Inc [BX]
With the latest financial reports released by the company, Blackstone Inc posted 1.07/share EPS, while the average EPS was predicted by analysts to be reported at 0.95/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BX. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Blackstone Inc go to 5.64%.
Insider trade positions for Blackstone Inc [BX]
The top three institutional holders of BX stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in BX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in BX stock with ownership which is approximately 5.8325%.
