A Review of Blackstone Inc (NYSE: BX)’s Performance and Growth Prospects

In the latest trading session, 1.54 million Blackstone Inc (NYSE:BX) shares changed hands as the company’s beta touched 1.51. With the company’s most recent per share price at $124.06 changed hands at -$6.02 or -4.63% at last look, the market valuation stands at $149.84B. BX’s current price is a discount, trading about -7.63% off its 52-week high of $133.53. The share price had its 52-week low at $75.26, which suggests the last value was 39.34% up since then. When we look at Blackstone Inc’s average trading volume, we note the 10-day average is 3.42 million shares, with the 3-month average coming to 2.46.

Blackstone Inc (NYSE:BX) trade information

Instantly BX was in red as seen in intraday trades today. With action 0.40%, the performance over the past five days has been green. The drop to weekly highs of 131.29 subtracted -4.63% to the stock’s daily price. The company’s shares are showing year-to-date downside of -5.24%, with the 5-day performance at 0.40% in the green. However, in the 30-day time frame, Blackstone Inc (NYSE:BX) is 3.96% up. Looking at the short shares, we see there were 24.18 million shares sold at short interest cover period of 6.53 days.

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Blackstone Inc (BX) estimates and forecasts

Data shows that the Blackstone Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 27.06% over the past 6 months, a 25.32% in annual growth rate that is considerably higher than the industry average of 9.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Blackstone Inc will rise 1.00%, while the growth in revenue is estimated to hit 17.20% for the next quarter. Year-over-year growth is forecast to reach 27.70% up from the last financial year.

Consensus estimates given by 3 financial analysts project the company’s revenue in the current quarter to hit an average of $2.55 billion. 3 analysts are of the opinion that Blackstone Inc’s revenue for the quarter ending Jun 2024 will be $2.79 billion. The company’s revenue for the corresponding quarters a year ago was $2.49 billion and $2.35 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 2.40%. The estimates for the next quarter sales put growth at 18.90%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -4.02%. The 2024 estimates are for Blackstone Inc earnings to increase by 25.36%, but the outlook for the next 5-year period is at 12.25% per year.

BX Dividends

Blackstone Inc is expected to release its next quarterly earnings report between April 18 and April 22. The 1.77% annual yield figure for the share gives it an annual dividend of 2.20. It is important to note, however, that the 1.77% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

Blackstone Inc (NYSE:BX)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 0.50% of Blackstone Inc shares while 69.68% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 70.03%. There are 69.68% institutions holding the Blackstone Inc stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 6.72% of the shares, roughly 47.7 million BX shares worth $4.43 billion.

Blackrock Inc. holds the second largest percentage of outstanding shares, with 4.99% or 35.4 million shares worth $3.29 billion as of Jun 29, 2023.

Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Schwab Strategic Tr-Schwab U.S. Dividend Equity ETF. With 22.03 million shares estimated at $2.05 billion under it, the former controlled 3.10% of total outstanding shares. On the other hand, Schwab Strategic Tr-Schwab U.S. Dividend Equity ETF held about 1.46% of the shares, roughly 10.38 million shares worth around $889.11 million.

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