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One NYSE-Listed Financial Stock in Expensive Zone – BX

Feb 04, 2022 | Team Kalkine

Read Time :5min

One NYSE-Listed Financial Stock in Expensive Zone – BX

Blackstone Inc.

Blackstone Inc. (NYSE: BX) formerly known as Blackstone Group Inc., is an investment company. Its alternative asset management business includes assets focused on private equity, real estate, public debt and equity, life sciences, growth equity, opportunistic, non-investment grade credit, real assets.

Key Highlights

The company reported YoY growth of 0% in net revenues to USD 22.58 billion in FY21 (ended December 31, 2021) compared to USD 6.10 billion in FY20.
BX's net income expanded to USD 9.48 billion during FY21 vs. USD 3.48 billion in FY20.
Significantly high net margin 54.8% in FY21 vs. industry median of 19.7%.
Its ROE was 72.9% in FY21 vs. the industry median of 12.8%.
On January 10, 2022, Blackstone Holdings Finance Co. LLC., BX's indirect subsidiary, has completed its previously announced offering of USD 500 million in 2.550% senior notes due 2032 and USD 1.0 billion in 3.200% senior notes due 2052.
On January 07, 2022, BX announced that Blackstone Infrastructure Partners signed an definitive agreement with Caisse de dépôt et placement du Québec (CDPQ) and Invenergy for a USD 3 billion equity investment in Invenergy Renewables Holdings LLC , North America's largest private renewable energy company.
Stock is currently trading above its crucial short-term (50-day) and long-term (200-day) SMA support levels, a bullish indicator.
The stock is tilted towards its 52-week high of USD 149.78.
BX's stock price has increased 51.81% and 91.69% in the past nine and twelve months, respectively.

3-Year Technical Price Chart (as of February 03, 2022). Source: REFINITIV, Analysis by Kalkine Group

Conclusion: Considering the significant uptick in the stock price, we feel the current share price adequately reflects the robust business fundamentals and have chosen to remain on the sidelines. Hence, we recommend an “Expensive” rating on the stock at the closing price of USD 134.09, down 2.82% as of February 03, 2022.

*The reference data in this report has been partly sourced from REFINITIV.

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Past performance is not a reliable indicator of future performance.