Blackstone Inc. (BX) closed at $107.16 in the latest trading session, marking a +0.02% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.01%. Meanwhile, the Dow lost 0.22%, and the Nasdaq, a tech-heavy index, added 0.67%.
Coming into today, shares of the investment manager had gained 2.54% in the past month. In that same time, the Finance sector lost 3.49%, while the S&P 500 lost 4.45%.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release. The company is expected to report EPS of $0.99, down 6.6% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.53 billion, down 2.37% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.16 per share and revenue of $10.58 billion, which would represent changes of -19.54% and -15.95%, respectively, from the prior 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 0.03% higher. Blackstone Inc. currently has a Zacks Rank of #3 (Hold).
Investors should also note Blackstone Inc.'s current valuation metrics, including its Forward P/E ratio of 25.73. Its industry sports an average Forward P/E of 10.29, so we one might conclude that Blackstone Inc. is trading at a premium comparatively.
It is also worth noting that BX currently has a PEG ratio of 1.95. 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. BX's industry had an average PEG ratio of 1.15 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% 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.
To follow BX in the coming trading sessions, be sure to utilize Zacks.com.
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