In the latest trading session, Blackstone Inc. (BX) closed at $86.40, marking a +0.82% move from the previous day. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, lost 2.33%.
Heading into today, shares of the investment manager had lost 3.44% over the past month, lagging the Finance sector's loss of 2.32% and the S&P 500's gain of 1.03% in that time.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release. The company is expected to report EPS of $0.94, down 36.91% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.4 billion, down 42.14% from the year-ago period.
BX's full-year Zacks Consensus Estimates are calling for earnings of $4.30 per share and revenue of $10.84 billion. These results would represent year-over-year changes of -16.83% and -13.91%, respectively.
Any recent changes to analyst estimates for Blackstone Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 1.06% lower within the past month. Blackstone Inc. is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, Blackstone Inc. currently has a Forward P/E ratio of 19.91. This valuation marks a premium compared to its industry's average Forward P/E of 9.19.
Investors should also note that BX has a PEG ratio of 1.38 right now. 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 - Miscellaneous Services industry currently had an average PEG ratio of 0.95 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 202, putting it in the bottom 20% 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.
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