In the latest trading session, Blackstone Group (BX - Free Report) closed at $31.75, marking a +1.11% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.48%. At the same time, the Dow added 0.53%, and the tech-heavy Nasdaq gained 0.8%.
Heading into today, shares of the investment manager had gained 2.88% over the past month, outpacing the Finance sector's loss of 1.39% and the S&P 500's loss of 2.09% in that time.
Wall Street will be looking for positivity from BX as it approaches its next earnings report date. This is expected to be January 31, 2019. In that report, analysts expect BX to post earnings of $0.55 per share. This would mark a year-over-year decline of 22.54%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.58 billion, down 16.14% from the year-ago period.
It is also important to note the recent changes to analyst estimates for BX. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 4.88% lower within the past month. BX is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that BX has a Forward P/E ratio of 10.54 right now. This represents a premium compared to its industry's average Forward P/E of 10.05.
Also, we should mention that BX has a PEG ratio of 1.49. 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 - Investment Management industry currently had an average PEG ratio of 1.21 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 240, putting it in the bottom 7% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.