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) Dips More Than Broader Markets: What You Should Know
Read MoreHide Full Article
Blackstone Inc. (BX - Free Report) closed at $92.02 in the latest trading session, marking a -0.96% move from the prior day. This change lagged the S&P 500's daily loss of 0.79%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 2.71%.
Heading into today, shares of the investment manager had gained 6.43% over the past month, outpacing the Finance sector's gain of 3.99% and the S&P 500's gain of 4.16% in that time.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release, which is expected to be July 20, 2023. The company is expected to report EPS of $0.94, down 36.91% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.4 billion, down 42.14% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.30 per share and revenue of $10.79 billion. These totals would mark changes of -16.83% and -14.3%, respectively, from last year.
Investors should also note any 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.06% lower. Blackstone Inc. currently has a Zacks Rank of #3 (Hold).
Investors should also note Blackstone Inc.'s current valuation metrics, including its Forward P/E ratio of 21.6. This represents a premium compared to its industry's average Forward P/E of 9.3.
Investors should also note that BX has a PEG ratio of 1.49 right now. 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. The Financial - Miscellaneous Services was holding an average PEG ratio of 0.89 at yesterday's closing price.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Blackstone Inc. (BX) Dips More Than Broader Markets: What You Should Know
Blackstone Inc. (BX - Free Report) closed at $92.02 in the latest trading session, marking a -0.96% move from the prior day. This change lagged the S&P 500's daily loss of 0.79%. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 2.71%.
Heading into today, shares of the investment manager had gained 6.43% over the past month, outpacing the Finance sector's gain of 3.99% and the S&P 500's gain of 4.16% in that time.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release, which is expected to be July 20, 2023. The company is expected to report EPS of $0.94, down 36.91% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $2.4 billion, down 42.14% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.30 per share and revenue of $10.79 billion. These totals would mark changes of -16.83% and -14.3%, respectively, from last year.
Investors should also note any 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 0.06% lower. Blackstone Inc. currently has a Zacks Rank of #3 (Hold).
Investors should also note Blackstone Inc.'s current valuation metrics, including its Forward P/E ratio of 21.6. This represents a premium compared to its industry's average Forward P/E of 9.3.
Investors should also note that BX has a PEG ratio of 1.49 right now. 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. The Financial - Miscellaneous Services was holding an average PEG ratio of 0.89 at yesterday's closing price.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 195, putting it in the bottom 23% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.