In the latest trading session, Blackstone Group (BX - Free Report) closed at $53.95, marking a +0.63% move from the previous day. This move outpaced the S&P 500's daily gain of 0.24%. At the same time, the Dow lost 0.04%, and the tech-heavy Nasdaq gained 0.43%.
Wall Street will be looking for positivity from BX as it approaches its next earnings report date. In that report, analysts expect BX to post earnings of $0.43 per share. This would mark a year-over-year decline of 24.56%. Our most recent consensus estimate is calling for quarterly revenue of $1.14 billion, down 14.1% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.05 per share and revenue of $5.19 billion, which would represent changes of -11.26% and -7.04%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for BX. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.97% lower. BX is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, BX is holding a Forward P/E ratio of 26.21. For comparison, its industry has an average Forward P/E of 10.06, which means BX is trading at a premium to the group.
We can also see that BX currently has a PEG ratio of 13.37. 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 1.42 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 161, putting it in the bottom 37% 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.