Blackstone Inc [BX] moved down -4.48: Why It’s Important

Blackstone Inc [NYSE: BX] loss -4.48% or -5.92 points to close at $126.08 with a heavy trading volume of 3336941 shares. The company report on April 8, 2024 at 8:32 AM that Blackstone Real Estate to Take AIR Communities Private for Approximately $10 Billion.

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Blackstone (NYSE: BX) and Apartment Income REIT Corp. (NYSE: AIRC) (“AIR Communities” or the “Company”) today announced that they have entered into a definitive agreement under which Blackstone Real Estate Partners X (“Blackstone”) will acquire all outstanding common shares of AIR Communities for $39.12 per share in an all-cash transaction valued at approximately $10 billion, including the assumption of debt.

The daily chart for BX points out that the company has recorded 21.38% gains over the past six months.

If we look at the average trading volume of 3.63M shares, BX reached to a volume of 3336941 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 $126.06 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 2.42. 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.

UBS have made an estimate for Blackstone Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on April 02, 2024. While these analysts kept the previous recommendation, Citigroup raised their target price from $116 to $124. The new note on the price target was released on January 19, 2024, representing the official price target for Blackstone Inc stock.

The Average True Range (ATR) for Blackstone Inc is set at 3.34, with the Price to Sales ratio for BX stock in the period of the last 12 months amounting to 14.87. The Price to Book ratio for the last quarter was 22.50, 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 86.45.

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 -0.39. With this latest performance, BX shares gained by 1.21% in over the last four-week period, additionally plugging by 21.38% over the last 6 months – not to mention a rise of 57.20% 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 47.42, with the RSI for the last a single of trading hit 44.73, and the three-weeks RSI is set at 49.04 for Blackstone Inc [BX]. The present Moving Average for the last 50 days of trading for this stock 126.70, while it was recorded at 128.20 for the last single week of trading, and 112.38 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 22.59%.

An analysis of Institutional ownership at Blackstone Inc [BX]

The top three institutional holders of BX stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in BX stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in BX stock with ownership which is approximately 5.8386%.