Yahoo Finance Blackstone Inc. (BX) Stock Moves -0.11%: What You Should Know
Blackstone Inc. (BX) closed at $87.30 in the latest trading session, marking a -0.11% move from the prior day. This move was narrower than the S&P 500's daily loss of 0.38%. Elsewhere, the Dow gained 0.27%, while the tech-heavy Nasdaq lost 4.19%.
Heading into today, shares of the investment manager had gained 7.07% over the past month, outpacing the Finance sector's gain of 2.65% and the S&P 500's gain of 3.78% in that time.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release. In that report, analysts expect Blackstone Inc. to post earnings of $0.94 per share. This would mark a year-over-year decline of 36.91%. Our most recent consensus estimate is calling for quarterly revenue of $2.4 billion, down 42.14% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.30 per share and revenue of $10.84 billion. These totals would mark changes of -16.83% and -13.91%, respectively, from last year.
It is also important to note the 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.
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 1.09% lower. Blackstone Inc. is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Blackstone Inc. has a Forward P/E ratio of 20.31 right now. For comparison, its industry has an average Forward P/E of 8.83, which means Blackstone Inc. is trading at a premium to the group.
Meanwhile, BX's PEG ratio is currently 1.41. 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 0.97 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 185, which puts it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Blackstone Inc. (BX) : Free Stock Analysis Report
