Blackstone Inc [NYSE: BX] gained 0.14% on the last trading session, reaching $124.97 price per share at the time. The company report on March 12, 2024 at 8:00 AM that Aligned Data Centers and Blackstone Credit & Insurance Announce Financing Relationship.
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.
“Blackstone’s support contributes to Aligned’s continued growth in meeting the capacity demands of customers across the globe,” said Anubhav Raj, Chief Financial Officer at Aligned. “The capital demands of this industry make strong financial backing crucial. Strategic financing partnerships focused on ingenuity and collaboration are a key advantage. We are excited to embark on this initial transaction and build on future opportunities with Blackstone.”.
If compared to the average trading volume of 3.70M shares, BX reached a trading volume of 22799209 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying 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 $126.90 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 new note on the price target was released on January 11, 2024, representing the official price target for Blackstone Inc stock. Previously, the target price had yet another raise to $118, while TD Cowen analysts kept a Market Perform rating on BX stock. On January 03, 2024, analysts increased their price target for BX shares from 115 to 128.
The Average True Range (ATR) for Blackstone Inc is set at 2.95, with the Price to Sales ratio for BX stock in the period of the last 12 months amounting to 14.74. The Price to Book ratio for the last quarter was 22.30, with the Price to Cash per share for the same quarter was set at 2.70. Price to Free Cash Flow for BX in the course of the last twelve months was 85.69.
Trading performance analysis for BX stock
Blackstone Inc [BX] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.81. With this latest performance, BX shares dropped by -2.33% in over the last four-week period, additionally plugging by 11.88% over the last 6 months – not to mention a rise of 46.69% 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 49.23, with the RSI for the last a single of trading hit 47.83, and the three-weeks RSI is set at 50.47 for Blackstone Inc [BX]. The present Moving Average for the last 50 days of trading for this stock 124.28, while it was recorded at 124.82 for the last single week of trading, and 109.04 for the last 200 days.
Blackstone Inc [BX]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Blackstone Inc posted 0.97/share EPS, while the average EPS was predicted by analysts to be reported at 0.96/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1.00%. 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 21.98%.
An analysis of Institutional ownership at 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%.
