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Blackstone Inc. (BX) Outpaces Stock Market Gains: What You Should Know
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Blackstone Inc. (BX - Free Report) closed at $91.52 in the latest trading session, marking a +0.33% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.07%. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq lost 1.47%.
Prior to today's trading, shares of the investment manager had lost 6.08% over the past month. This has lagged the Finance sector's loss of 1.99% and the S&P 500's loss of 2% in that time.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release. The company is expected to report EPS of $1.01, down 34.84% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.46 billion, down 29.74% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.66 per share and revenue of $12.1 billion, which would represent changes of -9.86% and -3.89%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Blackstone Inc.These revisions help to show the ever-changing nature of near-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.
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 0.93% lower. Blackstone Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Blackstone Inc. is holding a Forward P/E ratio of 19.59. For comparison, its industry has an average Forward P/E of 9.49, 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 1.99. 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 0.78 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 169, which puts it in the bottom 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Blackstone Inc. (BX) Outpaces Stock Market Gains: What You Should Know
Blackstone Inc. (BX - Free Report) closed at $91.52 in the latest trading session, marking a +0.33% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.07%. At the same time, the Dow added 0.12%, and the tech-heavy Nasdaq lost 1.47%.
Prior to today's trading, shares of the investment manager had lost 6.08% over the past month. This has lagged the Finance sector's loss of 1.99% and the S&P 500's loss of 2% in that time.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release. The company is expected to report EPS of $1.01, down 34.84% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.46 billion, down 29.74% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.66 per share and revenue of $12.1 billion, which would represent changes of -9.86% and -3.89%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Blackstone Inc.These revisions help to show the ever-changing nature of near-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.
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 0.93% lower. Blackstone Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Blackstone Inc. is holding a Forward P/E ratio of 19.59. For comparison, its industry has an average Forward P/E of 9.49, 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 1.99. 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 0.78 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 169, which puts it in the bottom 33% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.