We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Blackstone Inc. (BX) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
Blackstone Inc. (BX - Free Report) closed the most recent trading day at $85.04, moving -0.02% from the previous trading session. This move lagged the S&P 500's daily gain of 0.4%. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 1.1%.
Prior to today's trading, shares of the investment manager had gained 9.9% over the past month. This has outpaced the Finance sector's gain of 3.81% and the S&P 500's loss of 0.01% in that time.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release, which is expected to be January 26, 2023. The company is expected to report EPS of $1, down 41.52% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.67 billion, down 40.03% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Blackstone Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 6.47% lower. Blackstone Inc. is currently sporting a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Blackstone Inc. currently has a Forward P/E ratio of 17.97. This valuation marks a premium compared to its industry's average Forward P/E of 9.18.
Also, we should mention that BX has a PEG ratio of 2.64. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. BX's industry had an average PEG ratio of 0.71 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 143, which puts it in the bottom 44% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Blackstone Inc. (BX) Stock Sinks As Market Gains: What You Should Know
Blackstone Inc. (BX - Free Report) closed the most recent trading day at $85.04, moving -0.02% from the previous trading session. This move lagged the S&P 500's daily gain of 0.4%. Elsewhere, the Dow gained 0.33%, while the tech-heavy Nasdaq lost 1.1%.
Prior to today's trading, shares of the investment manager had gained 9.9% over the past month. This has outpaced the Finance sector's gain of 3.81% and the S&P 500's loss of 0.01% in that time.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release, which is expected to be January 26, 2023. The company is expected to report EPS of $1, down 41.52% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.67 billion, down 40.03% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Blackstone Inc.These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 6.47% lower. Blackstone Inc. is currently sporting a Zacks Rank of #5 (Strong Sell).
Digging into valuation, Blackstone Inc. currently has a Forward P/E ratio of 17.97. This valuation marks a premium compared to its industry's average Forward P/E of 9.18.
Also, we should mention that BX has a PEG ratio of 2.64. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. BX's industry had an average PEG ratio of 0.71 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 143, which puts it in the bottom 44% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.