In the latest trading session, Blackstone Group (BX - Free Report) closed at $52.85, marking a -0.84% move from the previous day. This move traded in line with S&P 500. At the same time, the Dow lost 0.53%, and the tech-heavy Nasdaq lost 1.47%.
Heading into today, shares of the investment manager had gained 8.25% over the past month, outpacing the Finance sector's gain of 6.7% and the S&P 500's gain of 5.2% in that time.
Investors will be hoping for strength from BX as it approaches its next earnings release. In that report, analysts expect BX to post earnings of $0.58 per share. This would mark a year-over-year decline of 23.68%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.48 billion, down 19.36% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.31 per share and revenue of $5.53 billion. These totals would mark changes of +2.21% and -7.44%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for BX. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.36% lower. BX currently has a Zacks Rank of #4 (Sell).
Digging into valuation, BX currently has a Forward P/E ratio of 23.11. This represents a premium compared to its industry's average Forward P/E of 11.98.
Also, we should mention that BX has a PEG ratio of 1.13. 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 - Investment Management was holding an average PEG ratio of 1.63 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 109, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.