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Blackstone Inc. (BX) Gains As Market Dips: What You Should Know
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Blackstone Inc. (BX - Free Report) closed at $81.41 in the latest trading session, marking a +0.26% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.25%. Meanwhile, the Dow gained 0.24%, and the Nasdaq, a tech-heavy index, lost 1.88%.
Prior to today's trading, shares of the investment manager had lost 9.24% over the past month. This has lagged the Finance sector's loss of 7.07% and the S&P 500's gain of 1.48% in that time.
Wall Street will be looking for positivity from Blackstone Inc. as it approaches its next earnings report date. This is expected to be April 20, 2023. In that report, analysts expect Blackstone Inc. to post earnings of $0.99 per share. This would mark a year-over-year decline of 36.13%. Meanwhile, our latest consensus estimate is calling for revenue of $2.51 billion, down 28.33% from the prior-year quarter.
BX's full-year Zacks Consensus Estimates are calling for earnings of $4.62 per share and revenue of $11.82 billion. These results would represent year-over-year changes of -10.64% and -6.1%, respectively.
It is also important to note the recent changes to analyst estimates for Blackstone Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.83% lower. Blackstone Inc. is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Blackstone Inc. is holding a Forward P/E ratio of 17.58. Its industry sports an average Forward P/E of 8.79, so we one might conclude that Blackstone Inc. is trading at a premium comparatively.
We can also see that BX currently has a PEG ratio of 1.54. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Financial - Miscellaneous Services was holding an average PEG ratio of 0.75 at yesterday's closing price.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BX in the coming trading sessions, be sure to utilize Zacks.com.
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Blackstone Inc. (BX) Gains As Market Dips: What You Should Know
Blackstone Inc. (BX - Free Report) closed at $81.41 in the latest trading session, marking a +0.26% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.25%. Meanwhile, the Dow gained 0.24%, and the Nasdaq, a tech-heavy index, lost 1.88%.
Prior to today's trading, shares of the investment manager had lost 9.24% over the past month. This has lagged the Finance sector's loss of 7.07% and the S&P 500's gain of 1.48% in that time.
Wall Street will be looking for positivity from Blackstone Inc. as it approaches its next earnings report date. This is expected to be April 20, 2023. In that report, analysts expect Blackstone Inc. to post earnings of $0.99 per share. This would mark a year-over-year decline of 36.13%. Meanwhile, our latest consensus estimate is calling for revenue of $2.51 billion, down 28.33% from the prior-year quarter.
BX's full-year Zacks Consensus Estimates are calling for earnings of $4.62 per share and revenue of $11.82 billion. These results would represent year-over-year changes of -10.64% and -6.1%, respectively.
It is also important to note the recent changes to analyst estimates for Blackstone Inc.These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.83% lower. Blackstone Inc. is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Blackstone Inc. is holding a Forward P/E ratio of 17.58. Its industry sports an average Forward P/E of 8.79, so we one might conclude that Blackstone Inc. is trading at a premium comparatively.
We can also see that BX currently has a PEG ratio of 1.54. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Financial - Miscellaneous Services was holding an average PEG ratio of 0.75 at yesterday's closing price.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 174, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BX in the coming trading sessions, be sure to utilize Zacks.com.