On September 15, 2023, a noteworthy block trade took place for the stock symbol BX. This trade entailed the sale of an impressive 4.6 million shares at a price of $113.787 per share, surpassing the ask price of $113.65.
A block trade is an extensive transaction that occurs outside the open market, typically involving a substantial number of shares or a significant monetary value. These trades are commonly executed by institutional investors, such as hedge funds or mutual funds, and possess the potential to greatly influence the market price of the traded security.
BX represents Blackstone Group Inc., a renowned global investment firm specializing in alternative asset management. As of September 15, 2023, the stock’s market price stood at $113.65 per share. The aforementioned block trade occurred at a price higher than the prevailing ask price, indicating the buyer’s willingness to pay a premium in order to acquire the shares.
Blackstone Inc.
BX
Strong Buy
Updated on: 06/12/2023
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
BX Stock Performance on September 15, 2023: Mixed Results and Factors to Consider for Investors
On September 15, 2023, BX stock, the stock of The Blackstone Group Inc., had a mixed performance. The stock opened at $113.33, slightly higher than the previous day’s closing price of $112.71. Throughout the day, the stock fluctuated within a range of $112.92 to $115.18. The trading volume was significantly higher than the average volume for the past three months, with 117,137,690 shares traded.
BX’s market capitalization stood at $137.6 billion. However, the company’s earnings growth has been negative in recent years, with a decline of 71.00% last year and a further decrease of 16.36% expected this year. Despite these negative trends, analysts project a positive earnings growth of 12.03% over the next five years.
On the revenue front, BX experienced a growth rate of 8.14% last year. The company operates in New York, New York, which is a major financial hub.
In terms of valuation, BX has a relatively high P/E ratio of 68.4, suggesting that the stock may be trading at a premium compared to its earnings. The price/sales ratio of 4.04 and the price/book ratio of 17.75 further indicate that the stock may be valued higher than its peers in the investment management industry.
On September 15, 2023, BX stock experienced a decline of 1.31%, with a decrease of $9.27. This decline may have been influenced by the negative earnings growth and relatively high valuation ratios.
In comparison to its industry peers, BX’s performance on September 15, 2023, was relatively weaker. BlackRock (BLK) experienced a decline of 1.31%, Brookfield Corp (BN) had a minor decrease of 0.21%, KKR & Co Inc (KKR) showed a positive change of 1.10%, and Apollo Global Management (APO) had a slight increase of 0.64%.
Looking ahead, BX’s next reporting date is scheduled for October 19, 2023. Analysts forecast an earnings per share (EPS) of $1.09 for the current quarter. In the previous fiscal year, BX generated an annual revenue of $13.6 billion and a profit of $1.7 billion, resulting in a net profit margin of 12.84%.
In conclusion, BX stock had a mixed performance on September 15, 2023. While the stock opened higher and traded within a range, it ultimately experienced a decline. The company’s negative earnings growth in recent years and relatively high valuation ratios may have contributed to this decline. However, analysts project positive earnings growth over the next five years, which could indicate potential future growth for the company. Investors should carefully consider these factors and conduct further research before making any investment decisions.
Blackstone Inc Receives Positive Ratings from Investment Analysts and Expected to Report Strong Earnings
Blackstone Inc, a leading investment firm, has been receiving positive ratings from investment analysts. On September 15, 2023, the stock had a median target price of $114.00, with a high estimate of $125.00 and a low estimate of $94.00. The consensus among 20 polled investment analysts is to buy stock in Blackstone Inc. This rating has remained steady since August. Blackstone Inc reported earnings per share of $1.09 for the current quarter and sales of $2.8 billion. Investors can expect more insights into the company’s performance when Blackstone Inc reports its earnings on October 19. Overall, the information provided suggests that Blackstone Inc is in a favorable position. Investors may consider buying stock in Blackstone Inc based on the consensus among analysts and the expected positive earnings report.
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