- BX stock price is trading at $127.67.
- The price has given a breakout of the $190.00 resistance level.
- The stock has been trading with a volume of 11.452 Million in the last trading session.
Blackstone Inc. (NYSE: BX) is an American investment management company. The company deals in the provision of investments and provides fund management services. It was founded by Stephen Allen Schwarzman in 1985.
Blackstone Inc. (BX) Stock: Financial Analysis
Blackstone’s revenue in 2020 was around $6.47 Billion. In 2021, the company increased its revenue to $12.59 Billion with a growth of 94.47% compared to its previous year. In 2022, the company generated $13.62 Billion in revenue which showed a growth of 88.14% compared to the previous year. The firm’s trailing twelve-month revenue for 2023 is running at $10.34 Billion, which is quite low when compared to the previous year.
The company’s net income has been very inconsistent over the last three years. In 2020 it generated a net income of $1.05 Billion, whereas in 2021 it showed a growth of 460.32% with $5.86 Billion in its net income. In 2022, the net income declined by 70.16% as the company only generated a net income of $1.75 Billion. The company’s trailing twelve-month net income is running at $1.25 Billion which is also lower than the previous year.
The Blackstone company has been consistently paying dividends over the last three years with an average of 126.91 dividend payout ratio.
The company has been very consistent in its revenue over the last three years. The firm also has a good dividend ratio, but it has inconsistent growth in its net income.
Blackstone Inc. (BX) Stock: Technical Analysis
In December 2022, the BX stock price formed support at $71.72 and commenced a bullish rally to $102.04. When it reached there, it faced rejection and started to fall and took the support of the trendline from $76.19. Subsequently, the price commenced a bullish rally again.
The price went up to $94.91 and faced rejection from the trendline. The price fell back to the lower trendline. This movement in price led to the formation of the symmetrical triangle pattern.
In July 2023, the price gave the breakout of the symmetrical triangle and rallied to its historical resistance at $109.00. After reaching its $109 resistance level, the price started facing rejection and showed a pullback to the $95.00 level. The price initiated a bullish rally again and gave a breakout of the $109 resistance level.
Currently, the price is trading above the $109 resistance after the breakout. If the price sustains above the $109 resistance, then it may rise to its next resistance at $123. However, for the price to gain bearish momentum, it should close below $109, which will lead to a breakout failure scenario after which the price may fall to the $95 support level.
Technical Indicators’ Prediction About the Current Trend
The BX stock price is trading above the 50 and 200 EMAs,which indicates the bullish sentiment over the price.
The relative strength index is at 74.53. The RSI is in overbought territory, indicating that a short-term pullback can be seen in the future.
Conclusion
Blackstone Inc. (BB) stock price is witnessing bullish sentiments at the time of writing. The price has given a breakout of the $109 resistance level. If the price sustains above this, then it may rise to its next resistance at $123. However, for the price to gain bearish momentum, it should close below $109, which will lead to a breakout failure scenario after which the price may fall to the $95 support level.
Technical levels
Resistance levels: $123.
Support levels: $109 and $95.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing or trading comes with a risk of financial loss.