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.

Disclaimer

The advice given by Kalkine Canada Advisory Services Inc. and provided on this website is general information only and it does not take into account your investment objectives, financial situation and the particular needs of any particular person. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. The website www.kalkine.ca is published by Kalkine Canada Advisory Services Inc. The link to our Terms & Conditions has been provided please go through them. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations later.