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Blackstone Inc. (BX) Dips More Than Broader Markets: What You Should Know
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Blackstone Inc. (BX - Free Report) closed at $74.34 in the latest trading session, marking a -1.98% move from the prior day. This move lagged the S&P 500's daily loss of 1.45%. At the same time, the Dow lost 1.05%, and the tech-heavy Nasdaq lost 5.88%.
Heading into today, shares of the investment manager had lost 14.32% over the past month, lagging the Finance sector's loss of 1.91% and the S&P 500's loss of 1.68% in that time.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release. In that report, analysts expect Blackstone Inc. to post earnings of $1.02 per share. This would mark a year-over-year decline of 40.35%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.69 billion, down 39.72% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.12 per share and revenue of $12.93 billion. These totals would mark changes of +7.34% and +10.9%, respectively, from last year.
Any recent changes to analyst estimates for Blackstone Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.56% lower. Blackstone Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Blackstone Inc. currently has a Forward P/E ratio of 14.82. This represents a premium compared to its industry's average Forward P/E of 10.19.
Also, we should mention that BX has a PEG ratio of 1.85. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BX's industry had an average PEG ratio of 0.72 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 145, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Blackstone Inc. (BX) Dips More Than Broader Markets: What You Should Know
Blackstone Inc. (BX - Free Report) closed at $74.34 in the latest trading session, marking a -1.98% move from the prior day. This move lagged the S&P 500's daily loss of 1.45%. At the same time, the Dow lost 1.05%, and the tech-heavy Nasdaq lost 5.88%.
Heading into today, shares of the investment manager had lost 14.32% over the past month, lagging the Finance sector's loss of 1.91% and the S&P 500's loss of 1.68% in that time.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release. In that report, analysts expect Blackstone Inc. to post earnings of $1.02 per share. This would mark a year-over-year decline of 40.35%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.69 billion, down 39.72% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.12 per share and revenue of $12.93 billion. These totals would mark changes of +7.34% and +10.9%, respectively, from last year.
Any recent changes to analyst estimates for Blackstone Inc. should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.56% lower. Blackstone Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Blackstone Inc. currently has a Forward P/E ratio of 14.82. This represents a premium compared to its industry's average Forward P/E of 10.19.
Also, we should mention that BX has a PEG ratio of 1.85. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BX's industry had an average PEG ratio of 0.72 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 145, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.