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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 $89.63 in the latest trading session, marking a -1.94% move from the prior day. This change lagged the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, lost 0.28%.
Coming into today, shares of the investment manager had lost 5.58% in the past month. In that same time, the Finance sector lost 0.23%, while the S&P 500 gained 1.51%.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release, which is expected to be July 21, 2022. The company is expected to report EPS of $1.52, up 85.37% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.48 billion, up 64.49% from the year-ago period.
BX's full-year Zacks Consensus Estimates are calling for earnings of $5.68 per share and revenue of $13.39 billion. These results would represent year-over-year changes of +19.08% and +14.79%, respectively.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 has moved 0.58% lower. Blackstone Inc. is currently a Zacks Rank #3 (Hold).
Investors should also note Blackstone Inc.'s current valuation metrics, including its Forward P/E ratio of 16.11. This valuation marks a premium compared to its industry's average Forward P/E of 9.9.
It is also worth noting that BX currently has a PEG ratio of 0.97. 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. The Financial - Miscellaneous Services was holding an average PEG ratio of 0.54 at yesterday's closing price.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 200, putting it in the bottom 21% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Blackstone Inc. (BX) Dips More Than Broader Markets: What You Should Know
Blackstone Inc. (BX - Free Report) closed at $89.63 in the latest trading session, marking a -1.94% move from the prior day. This change lagged the S&P 500's daily loss of 0.3%. Meanwhile, the Dow lost 0.46%, and the Nasdaq, a tech-heavy index, lost 0.28%.
Coming into today, shares of the investment manager had lost 5.58% in the past month. In that same time, the Finance sector lost 0.23%, while the S&P 500 gained 1.51%.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release, which is expected to be July 21, 2022. The company is expected to report EPS of $1.52, up 85.37% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $3.48 billion, up 64.49% from the year-ago period.
BX's full-year Zacks Consensus Estimates are calling for earnings of $5.68 per share and revenue of $13.39 billion. These results would represent year-over-year changes of +19.08% and +14.79%, respectively.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
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 has moved 0.58% lower. Blackstone Inc. is currently a Zacks Rank #3 (Hold).
Investors should also note Blackstone Inc.'s current valuation metrics, including its Forward P/E ratio of 16.11. This valuation marks a premium compared to its industry's average Forward P/E of 9.9.
It is also worth noting that BX currently has a PEG ratio of 0.97. 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. The Financial - Miscellaneous Services was holding an average PEG ratio of 0.54 at yesterday's closing price.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 200, putting it in the bottom 21% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.