Blackstone Group (BX) Stock Sinks As Market Gains: What You Should Know
Blackstone Group (BX) closed the most recent trading day at $33.67, moving -1% from the previous trading session. This change lagged the S&P 500's daily gain of 0.64%. At the same time, the Dow added 0.7%, and the tech-heavy Nasdaq gained 0.91%.
Heading into today, shares of the investment manager had gained 4.61% over the past month, outpacing the Finance sector's gain of 2.8% and the S&P 500's gain of 4.16% in that time.
BX will be looking to display strength as it nears its next earnings release. In that report, analysts expect BX to post earnings of $0.62 per share. This would mark a year-over-year decline of 4.62%. Our most recent consensus estimate is calling for quarterly revenue of $1.90 billion, up 14.4% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.62 per share and revenue of $7.56 billion, which would represent changes of +15.93% and +26.59%, respectively, from the prior year.
Any recent changes to analyst estimates for BX 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.
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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 7.98% lower. BX is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note BX's current valuation metrics, including its Forward P/E ratio of 12.99. This valuation marks a premium compared to its industry's average Forward P/E of 11.14.
Also, we should mention that BX has a PEG ratio of 3.26. 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 1.56 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 214, putting it in the bottom 17% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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