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Blackstone Inc. (BX) Gains As Market Dips: What You Should Know
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Blackstone Inc. (BX - Free Report) closed at $86.67 in the latest trading session, marking a +0.53% move from the prior day. This change outpaced the S&P 500's 0.7% loss on the day. Elsewhere, the Dow lost 0.87%, while the tech-heavy Nasdaq added 2.77%.
Heading into today, shares of the investment manager had lost 10.91% over the past month, lagging the Finance sector's loss of 9.19% and the S&P 500's loss of 5.06% in that time.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release. 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 $2.51 billion, down 28.33% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.66 per share and revenue of $11.91 billion. These totals would mark changes of -9.86% and -5.44%, respectively, from last year.
Any recent changes to analyst estimates for Blackstone Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.03% higher. Blackstone Inc. currently has a Zacks Rank of #3 (Hold).
Investors should also note Blackstone Inc.'s current valuation metrics, including its Forward P/E ratio of 18.51. This valuation marks a premium compared to its industry's average Forward P/E of 8.89.
Investors should also note that BX has a PEG ratio of 1.88 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Financial - Miscellaneous Services was holding an average PEG ratio of 0.72 at yesterday's closing price.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 177, putting it in the bottom 30% 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) Gains As Market Dips: What You Should Know
Blackstone Inc. (BX - Free Report) closed at $86.67 in the latest trading session, marking a +0.53% move from the prior day. This change outpaced the S&P 500's 0.7% loss on the day. Elsewhere, the Dow lost 0.87%, while the tech-heavy Nasdaq added 2.77%.
Heading into today, shares of the investment manager had lost 10.91% over the past month, lagging the Finance sector's loss of 9.19% and the S&P 500's loss of 5.06% in that time.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release. 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 $2.51 billion, down 28.33% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.66 per share and revenue of $11.91 billion. These totals would mark changes of -9.86% and -5.44%, respectively, from last year.
Any recent changes to analyst estimates for Blackstone Inc. should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.03% higher. Blackstone Inc. currently has a Zacks Rank of #3 (Hold).
Investors should also note Blackstone Inc.'s current valuation metrics, including its Forward P/E ratio of 18.51. This valuation marks a premium compared to its industry's average Forward P/E of 8.89.
Investors should also note that BX has a PEG ratio of 1.88 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Financial - Miscellaneous Services was holding an average PEG ratio of 0.72 at yesterday's closing price.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 177, putting it in the bottom 30% 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.