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Blackstone Inc. (BX) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, Blackstone Inc. (BX - Free Report) closed at $134.72, marking a -0.39% move from the previous day. This change lagged the S&P 500's daily gain of 1.17%. Meanwhile, the Dow gained 1.87%, and the Nasdaq, a tech-heavy index, added 0.62%.
Prior to today's trading, shares of the investment manager had lost 5.12% over the past month. This has was narrower than the Finance sector's loss of 5.58% and lagged the S&P 500's loss of 2.46% 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 $1.30 per share. This would mark year-over-year growth of 15.04%. Meanwhile, our latest consensus estimate is calling for revenue of $3.01 billion, up 7.45% from the prior-year quarter.
BX's full-year Zacks Consensus Estimates are calling for earnings of $4.35 per share and revenue of $10.22 billion. These results would represent year-over-year changes of +64.15% and +56.85%, respectively.
Any recent changes to analyst estimates for Blackstone Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-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.
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 remained stagnant. Blackstone Inc. is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note Blackstone Inc.'s current valuation metrics, including its Forward P/E ratio of 31.13. This represents a premium compared to its industry's average Forward P/E of 11.31.
Meanwhile, BX's PEG ratio is currently 1.24. 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. Financial - Miscellaneous Services stocks are, on average, holding a PEG ratio of 0.84 based on yesterday's closing prices.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% 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.
To follow BX in the coming trading sessions, be sure to utilize Zacks.com.
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Blackstone Inc. (BX) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Blackstone Inc. (BX - Free Report) closed at $134.72, marking a -0.39% move from the previous day. This change lagged the S&P 500's daily gain of 1.17%. Meanwhile, the Dow gained 1.87%, and the Nasdaq, a tech-heavy index, added 0.62%.
Prior to today's trading, shares of the investment manager had lost 5.12% over the past month. This has was narrower than the Finance sector's loss of 5.58% and lagged the S&P 500's loss of 2.46% 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 $1.30 per share. This would mark year-over-year growth of 15.04%. Meanwhile, our latest consensus estimate is calling for revenue of $3.01 billion, up 7.45% from the prior-year quarter.
BX's full-year Zacks Consensus Estimates are calling for earnings of $4.35 per share and revenue of $10.22 billion. These results would represent year-over-year changes of +64.15% and +56.85%, respectively.
Any recent changes to analyst estimates for Blackstone Inc. should also be noted by investors. Recent revisions tend to reflect the latest near-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.
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 remained stagnant. Blackstone Inc. is currently sporting a Zacks Rank of #2 (Buy).
Investors should also note Blackstone Inc.'s current valuation metrics, including its Forward P/E ratio of 31.13. This represents a premium compared to its industry's average Forward P/E of 11.31.
Meanwhile, BX's PEG ratio is currently 1.24. 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. Financial - Miscellaneous Services stocks are, on average, holding a PEG ratio of 0.84 based on yesterday's closing prices.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 88, putting it in the top 35% 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.
To follow BX in the coming trading sessions, be sure to utilize Zacks.com.