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Blackstone Inc. (BX) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Blackstone Inc. (BX - Free Report) closed at $89.93, marking a +0.98% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.31%. Elsewhere, the Dow gained 0.22%, while the tech-heavy Nasdaq lost 0.28%.
Prior to today's trading, shares of the investment manager had lost 7.09% over the past month. This has lagged the Finance sector's loss of 1.02% and the S&P 500's loss of 1% in that time.
Wall Street will be looking for positivity from Blackstone Inc. as it approaches its next earnings report date. On that day, Blackstone Inc. is projected to report earnings of $1.01 per share, which would represent a year-over-year decline of 34.84%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.46 billion, down 29.74% from the year-ago period.
BX's full-year Zacks Consensus Estimates are calling for earnings of $4.66 per share and revenue of $12.1 billion. These results would represent year-over-year changes of -9.86% and -3.89%, respectively.
Investors might also notice recent changes to analyst estimates for Blackstone Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.13% higher. 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 19.13. For comparison, its industry has an average Forward P/E of 9.52, which means Blackstone Inc. is trading at a premium to the group.
We can also see that BX currently has a PEG ratio of 1.94. 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 0.79 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 168, which puts it in the bottom 34% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
View the Zacks #1 Rank List
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Blackstone Inc. (BX) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Blackstone Inc. (BX - Free Report) closed at $89.93, marking a +0.98% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.31%. Elsewhere, the Dow gained 0.22%, while the tech-heavy Nasdaq lost 0.28%.
Prior to today's trading, shares of the investment manager had lost 7.09% over the past month. This has lagged the Finance sector's loss of 1.02% and the S&P 500's loss of 1% in that time.
Wall Street will be looking for positivity from Blackstone Inc. as it approaches its next earnings report date. On that day, Blackstone Inc. is projected to report earnings of $1.01 per share, which would represent a year-over-year decline of 34.84%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.46 billion, down 29.74% from the year-ago period.
BX's full-year Zacks Consensus Estimates are calling for earnings of $4.66 per share and revenue of $12.1 billion. These results would represent year-over-year changes of -9.86% and -3.89%, respectively.
Investors might also notice recent changes to analyst estimates for Blackstone Inc.These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.13% higher. 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 19.13. For comparison, its industry has an average Forward P/E of 9.52, which means Blackstone Inc. is trading at a premium to the group.
We can also see that BX currently has a PEG ratio of 1.94. 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 0.79 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 168, which puts it in the bottom 34% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.