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Blackstone Inc. (BX) Gains But Lags Market: What You Should Know
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Blackstone Inc. (BX - Free Report) closed the most recent trading day at $96.90, moving +0.58% from the previous trading session. This move lagged the S&P 500's daily gain of 0.66%. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 0.08%.
Coming into today, shares of the investment manager had lost 10.75% in the past month. In that same time, the Finance sector lost 2.4%, while the S&P 500 lost 3.79%.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release. The company is expected to report EPS of $1.02, down 20.31% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.59 billion, down 14.92% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.17 per share and revenue of $13.22 billion, which would represent changes of +8.39% and +13.35%, respectively, from the prior 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. 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. 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. The Zacks Consensus EPS estimate has moved 0.03% higher within the past month. Blackstone Inc. is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Blackstone Inc. has a Forward P/E ratio of 18.65 right now. For comparison, its industry has an average Forward P/E of 10.03, which means Blackstone Inc. is trading at a premium to the group.
It is also worth noting that BX currently has a PEG ratio of 1.83. 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. The Financial - Miscellaneous Services was holding an average PEG ratio of 0.56 at yesterday's closing price.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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Blackstone Inc. (BX) Gains But Lags Market: What You Should Know
Blackstone Inc. (BX - Free Report) closed the most recent trading day at $96.90, moving +0.58% from the previous trading session. This move lagged the S&P 500's daily gain of 0.66%. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 0.08%.
Coming into today, shares of the investment manager had lost 10.75% in the past month. In that same time, the Finance sector lost 2.4%, while the S&P 500 lost 3.79%.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release. The company is expected to report EPS of $1.02, down 20.31% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.59 billion, down 14.92% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.17 per share and revenue of $13.22 billion, which would represent changes of +8.39% and +13.35%, respectively, from the prior 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. 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. 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. The Zacks Consensus EPS estimate has moved 0.03% higher within the past month. Blackstone Inc. is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Blackstone Inc. has a Forward P/E ratio of 18.65 right now. For comparison, its industry has an average Forward P/E of 10.03, which means Blackstone Inc. is trading at a premium to the group.
It is also worth noting that BX currently has a PEG ratio of 1.83. 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. The Financial - Miscellaneous Services was holding an average PEG ratio of 0.56 at yesterday's closing price.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 92, which puts it in the top 37% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.