Blackstone Group (BX) Gains But Lags Market: What You Should Know
Blackstone Group (BX) closed at $53.94 in the latest trading session, marking a +0.78% move from the prior day. This change lagged the S&P 500's 0.91% gain on the day. Elsewhere, the Dow gained 1.22%, while the tech-heavy Nasdaq added 1%.
Heading into today, shares of the investment manager had gained 4.12% over the past month, outpacing the Finance sector's gain of 0.38% and the S&P 500's gain of 1.65% in that time.
Wall Street will be looking for positivity from BX as it approaches its next earnings report date. The company is expected to report EPS of $0.69, up 3550% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.61 billion, up 219.73% from the year-ago period.
BX's full-year Zacks Consensus Estimates are calling for earnings of $2.28 per share and revenue of $5.41 billion. These results would represent year-over-year changes of +0.88% and -9.47%, respectively.
Investors might also notice recent changes to analyst estimates for BX. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 remained stagnant within the past month. BX currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, BX is holding a Forward P/E ratio of 23.47. This valuation marks a premium compared to its industry's average Forward P/E of 11.83.
It is also worth noting that BX currently has a PEG ratio of 1.66. 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 1.66 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 146, which puts it in the bottom 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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