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Blackstone Inc. (BX) Stock Falls Amid Market Uptick: What Investors Need to Know
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Blackstone Inc. (BX - Free Report) closed at $123.30 in the latest trading session, marking a -1.22% move from the prior day. This change lagged the S&P 500's daily gain of 0.51%. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq increased by 0.58%.
The the stock of investment manager has risen by 1.02% in the past month, lagging the Finance sector's gain of 4.57% and the S&P 500's gain of 2.94%.
The upcoming earnings release of Blackstone Inc. will be of great interest to investors. The company is expected to report EPS of $1, up 3.09% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.55 billion, up 2.66% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.92 per share and revenue of $12.38 billion, indicating changes of +24.56% and +27.68%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Blackstone Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.56% downward. Blackstone Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Blackstone Inc.'s current valuation metrics, including its Forward P/E ratio of 25.36. Its industry sports an average Forward P/E of 11.36, so one might conclude that Blackstone Inc. is trading at a premium comparatively.
We can additionally observe that BX currently boasts a PEG ratio of 1. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Financial - Miscellaneous Services industry stood at 0.97 at the close of the market yesterday.
The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 148, this industry ranks in the bottom 42% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Blackstone Inc. (BX) Stock Falls Amid Market Uptick: What Investors Need to Know
Blackstone Inc. (BX - Free Report) closed at $123.30 in the latest trading session, marking a -1.22% move from the prior day. This change lagged the S&P 500's daily gain of 0.51%. On the other hand, the Dow registered a gain of 0.2%, and the technology-centric Nasdaq increased by 0.58%.
The the stock of investment manager has risen by 1.02% in the past month, lagging the Finance sector's gain of 4.57% and the S&P 500's gain of 2.94%.
The upcoming earnings release of Blackstone Inc. will be of great interest to investors. The company is expected to report EPS of $1, up 3.09% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.55 billion, up 2.66% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.92 per share and revenue of $12.38 billion, indicating changes of +24.56% and +27.68%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Blackstone Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 0.56% downward. Blackstone Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Blackstone Inc.'s current valuation metrics, including its Forward P/E ratio of 25.36. Its industry sports an average Forward P/E of 11.36, so one might conclude that Blackstone Inc. is trading at a premium comparatively.
We can additionally observe that BX currently boasts a PEG ratio of 1. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Financial - Miscellaneous Services industry stood at 0.97 at the close of the market yesterday.
The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 148, this industry ranks in the bottom 42% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
You can find more information on all of these metrics, and much more, on Zacks.com.