Blackstone Inc. (BX) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Blackstone Inc. (BX) closed at $74.19, marking a -0.75% move from the previous day. This change lagged the S&P 500's 0.25% loss on the day. Elsewhere, the Dow lost 0.22%, while the tech-heavy Nasdaq added 5.91%.
Prior to today's trading, shares of the investment manager had lost 12.1% over the past month. This has lagged the Finance sector's loss of 2.43% and the S&P 500's loss of 2.59% in that time.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release. On that day, Blackstone Inc. is projected to report earnings of $1.02 per share, which would represent a year-over-year decline of 40.35%. Our most recent consensus estimate is calling for quarterly revenue of $2.68 billion, down 39.81% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.12 per share and revenue of $12.93 billion, which would represent changes of +7.34% and +10.86%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Blackstone Inc.These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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, 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. Within the past 30 days, our consensus EPS projection has moved 0.56% lower. Blackstone Inc. is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Blackstone Inc. currently has a Forward P/E ratio of 14.6. This valuation marks a premium compared to its industry's average Forward P/E of 10.03.
Also, we should mention that BX has a PEG ratio of 1.82. 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 - Miscellaneous Services was holding an average PEG ratio of 0.71 at yesterday's closing price.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% 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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Blackstone Inc. (BX) : Free Stock Analysis Report
