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Blackstone Inc. (BX) closed at $97.87 in the latest trading session, marking a -1.01% move from the prior day. This move lagged the S&P 500's daily loss of 0.3%. At the same time, the Dow lost 0.2%, and the tech-heavy Nasdaq lost 0.11%.
Heading into today, shares of the investment manager had lost 18.32% over the past month, lagging the Finance sector's loss of 3.72% and the S&P 500's loss of 0.62% in that time.
Wall Street will be looking for positivity from Blackstone Inc. as it approaches its next earnings report date. The company is expected to report EPS of $1.54, up 87.8% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.64 billion, up 71.8% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.71 per share and revenue of $13.85 billion. These totals would mark changes of +19.71% and +18.76%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Blackstone Inc.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.
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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Blackstone Inc. currently has a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Blackstone Inc. has a Forward P/E ratio of 17.32 right now. This valuation marks a premium compared to its industry's average Forward P/E of 10.58.
We can also see that BX currently has a PEG ratio of 1.05. 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. BX's industry had an average PEG ratio of 0.72 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 209, putting it in the bottom 18% 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.
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