Investors focused on the Finance space have likely heard of The Blackstone Group L.P. (BX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
The Blackstone Group L.P. is a member of the Finance sector. This group includes 854 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. BX is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for BX's full-year earnings has moved 6.82% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, BX has gained about 21.92% so far this year. Meanwhile, the Finance sector has returned an average of -1.58% on a year-to-date basis. This means that The Blackstone Group L.P. is performing better than its sector in terms of year-to-date returns.
Looking more specifically, BX belongs to the Financial - Investment Management industry, which includes 51 individual stocks and currently sits at #85 in the Zacks Industry Rank. Stocks in this group have lost about 7.16% so far this year, so BX is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Finance stocks should continue to pay close attention to BX as it looks to continue its solid performance.