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Blackstone Inc. (BX) Dips More Than Broader Markets: What You Should Know
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Blackstone Inc. (BX - Free Report) closed at $96.14 in the latest trading session, marking a -1.25% move from the prior day. This change lagged the S&P 500's daily loss of 0.08%. Elsewhere, the Dow lost 0.15%, while the tech-heavy Nasdaq added 0.03%.
Coming into today, shares of the investment manager had lost 14.48% in the past month. In that same time, the Finance sector lost 8.36%, while the S&P 500 lost 6.03%.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release, which is expected to be July 21, 2022. On that day, Blackstone Inc. is projected to report earnings of $1.54 per share, which would represent year-over-year growth of 87.8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.64 billion, up 71.8% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.71 per share and revenue of $13.85 billion. These totals would mark changes of +19.71% and +18.76%, respectively, from last year.
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. 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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Blackstone Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Blackstone Inc. is holding a Forward P/E ratio of 17.06. Its industry sports an average Forward P/E of 10.88, so we one might conclude that Blackstone Inc. is trading at a premium comparatively.
It is also worth noting that BX currently has a PEG ratio of 1.03. 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 0.58 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 218, putting it in the bottom 14% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Blackstone Inc. (BX) Dips More Than Broader Markets: What You Should Know
Blackstone Inc. (BX - Free Report) closed at $96.14 in the latest trading session, marking a -1.25% move from the prior day. This change lagged the S&P 500's daily loss of 0.08%. Elsewhere, the Dow lost 0.15%, while the tech-heavy Nasdaq added 0.03%.
Coming into today, shares of the investment manager had lost 14.48% in the past month. In that same time, the Finance sector lost 8.36%, while the S&P 500 lost 6.03%.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release, which is expected to be July 21, 2022. On that day, Blackstone Inc. is projected to report earnings of $1.54 per share, which would represent year-over-year growth of 87.8%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.64 billion, up 71.8% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.71 per share and revenue of $13.85 billion. These totals would mark changes of +19.71% and +18.76%, respectively, from last year.
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. 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. 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. Within the past 30 days, our consensus EPS projection remained stagnant. Blackstone Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Looking at its valuation, Blackstone Inc. is holding a Forward P/E ratio of 17.06. Its industry sports an average Forward P/E of 10.88, so we one might conclude that Blackstone Inc. is trading at a premium comparatively.
It is also worth noting that BX currently has a PEG ratio of 1.03. 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 0.58 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 218, putting it in the bottom 14% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.