Monthly Stock Report: Blackstone Inc. (BX)
Publication Date: September 22, 2024
Company Overview
Blackstone Inc. (BX) is a leading alternative asset management firm headquartered in New York City, established in 1985. The firm is renowned for its diverse investment strategies, including private equity, real estate, hedge funds, and credit solutions. Blackstone typically targets early-stage companies and capitalizes on opportunistic investments, predominantly in sectors such as healthcare, technology, and energy. With strong footholds in North America and expanding interests in international markets like Asia and Latin America, Blackstone manages investments with enterprise values ranging from $500 million to $5 billion. As a publicly traded entity, Blackstone Inc. offers investors exposure to its vast asset management expertise, presenting compelling opportunities within the financial services sector.
Investment Outlook
Analysts project a positive outlook for Blackstone Inc., as evidenced by a robust recommendation to “buy” the stock, particularly due to favorable market conditions and growth potential. The current market price is $158.12, aligning closely with a target high of $164.00, indicating potential upside for investors. With total revenues reported at approximately $9.86 billion, Blackstone’s financial performance further substantiates this bullish sentiment. The company has approximately 720 million shares outstanding, with a low short interest of 2.36% among its float, reflecting general confidence in the stock’s future performance.
Market Dynamics
The volatility of Blackstone’s stock is highlighted by a 52-week range, with a high of $161.25 and a low of $88.59. The stock currently trades well above its fifty-day moving average of $139.30, suggesting a strong upward trend. The consensus among 19 analysts offers a mean target price of $138.68 and a median price of $140.00, signaling a favorable entry point for potential investors. Given the overall metrics and continued market interest, Blackstone Inc. remains an attractive investment within the dynamic asset management landscape.
| Metric | Value |
|---|---|
| Market Cap | $193.1b |
| Total Debt | $12.7b |
| Total Cash | $2.6b |
| Shares Outstanding | 720.1m |
| Float Shares | 673.6m |
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