On November 21, 2023, Blackstone, a prominent global investment firm, is currently engaged in advanced negotiations to acquire Civica, a renowned software developer based in the United Kingdom. The deal being discussed values Civica at an impressive sum of approximately $2.5 billion, including its existing debt. If these discussions reach a successful conclusion, the official announcement of this potential acquisition is expected to be made on Wednesday. This strategic move by Blackstone signifies yet another significant investment by the firm within the United Kingdom, following its recent acquisitions of two prominent hotels and an ambitious project aimed at constructing affordable housing across the country.
Blackstone Inc.
BX
Strong Buy
Updated on: 27/11/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Blackstone Groups BX Stock Shows Mixed Performance, Promising Financial Indicators and Positive Earnings Growth Projection
BX stock, belonging to the investment management industry, had a mixed performance on November 21, 2023. The stock opened at $106.07, slightly lower than the previous close of $106.45. Throughout the day, it traded within a range of $105.54 to $106.79. The trading volume was 2,172,511, lower than the average volume of 5,480,901 over the past three months.
Blackstone Group, the parent company of BX, has shown promising financial indicators. With a market capitalization of $126.7 billion, Blackstone is one of the leading investment managers in the finance sector. Its revenue growth in the last year was +8.14%, indicating a healthy performance in generating income.
However, the company’s earnings growth has faced challenges. Last year, Blackstone experienced a significant decline in earnings growth, with a negative growth rate of -71.00%. This year, the earnings growth rate improved but remained negative at -16.36%. Looking ahead, analysts project a positive earnings growth rate of +8.26% for the next five years, suggesting a potential recovery in profitability.
In terms of valuation, the price-to-earnings (P/E) ratio for BX stock stands at 44.3, indicating that investors are willing to pay a premium for each dollar of earnings. The price-to-sales ratio is 4.04, suggesting that the stock is trading at a reasonable multiple of its annual revenue. The price-to-book ratio is 16.34, indicating that the stock is priced at a premium compared to its book value.
When compared to other companies in the investment management industry, Blackstone’s performance on November 21, 2023, was relatively positive. While BlackRock (BLK) saw a 0.53% increase in its stock price, KKR & Co Inc (KKR) experienced a minor gain of 0.19%. On the other hand, Brookfield Corp (BN) faced a decline of -1.92%, and Apollo Global Management (APO) saw a decrease of -0.40%.
Blackstone’s next reporting date is scheduled for February 1, 2024. Analysts are forecasting an earnings per share (EPS) of $1.34 for the current quarter. In the previous year, Blackstone generated an annual revenue of $13.6 billion, resulting in a profit of $1.7 billion. The company’s net profit margin stands at 12.84%, indicating its ability to generate profits relative to its revenue.
Blackstone is headquartered in New York, New York, and operates in the investment management sector. While the company’s stock performance on November 21, 2023, had its ups and downs, its financial indicators and market position suggest a promising future. With a positive earnings growth projection for the next five years and a solid net profit margin, Blackstone remains a key player in the investment management industry.
Blackstone Inc: Target Price Decrease on November 21, 2023, but Consensus Remains Positive
On November 21, 2023, Blackstone Inc had a median target price of $105.00 according to 17 analysts. The high estimate was $120.00, while the low estimate was $89.00. This median estimate indicated a -0.71% decrease from the last recorded price of $105.75.
Despite this projected decrease, the current consensus among 22 polled investment analysts is to buy stock in Blackstone Inc. This rating has remained unchanged since November, indicating a consistent positive sentiment towards the company’s performance.
Blackstone Inc reported earnings per share of $1.34 for the current quarter, with sales amounting to $3.5 billion. These figures provide insight into the company’s profitability and revenue generation during this period.
Investors can expect more detailed information on Blackstone Inc’s financial performance when the company reports its next earnings on February 1.
Overall, the stock performance of Blackstone Inc on November 21, 2023, reflects a slight projected decrease in its target price. However, the consensus among investment analysts remains positive, indicating a favorable outlook for the company. Investors should keep an eye on the upcoming earnings report for further insights into Blackstone Inc’s financial performance.
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