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Blackstone Inc. (BX) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Blackstone Inc. (BX - Free Report) closed at $122.62, marking a -0.19% move from the previous day. This change lagged the S&P 500's daily loss of 0.04%. At the same time, the Dow lost 0.58%, and the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the investment manager had lost 0.82% over the past month. This has lagged the Finance sector's gain of 0.47% and the S&P 500's gain of 2.67% in that time.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release. The company is expected to report EPS of $1.23, up 28.13% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.22 billion, up 57.39% from the year-ago period.
BX's full-year Zacks Consensus Estimates are calling for earnings of $5.35 per share and revenue of $13.23 billion. These results would represent year-over-year changes of +12.16% and +13.42%, respectively.
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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 1.9% lower. Blackstone Inc. currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Blackstone Inc. has a Forward P/E ratio of 22.98 right now. Its industry sports an average Forward P/E of 11.69, so we one might conclude that Blackstone Inc. is trading at a premium comparatively.
Also, we should mention that BX has a PEG ratio of 0.96. 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 0.81 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 95, which puts it in the top 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Blackstone Inc. (BX) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Blackstone Inc. (BX - Free Report) closed at $122.62, marking a -0.19% move from the previous day. This change lagged the S&P 500's daily loss of 0.04%. At the same time, the Dow lost 0.58%, and the tech-heavy Nasdaq lost 0.18%.
Prior to today's trading, shares of the investment manager had lost 0.82% over the past month. This has lagged the Finance sector's gain of 0.47% and the S&P 500's gain of 2.67% in that time.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release. The company is expected to report EPS of $1.23, up 28.13% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $3.22 billion, up 57.39% from the year-ago period.
BX's full-year Zacks Consensus Estimates are calling for earnings of $5.35 per share and revenue of $13.23 billion. These results would represent year-over-year changes of +12.16% and +13.42%, respectively.
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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Within the past 30 days, our consensus EPS projection has moved 1.9% lower. Blackstone Inc. currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Blackstone Inc. has a Forward P/E ratio of 22.98 right now. Its industry sports an average Forward P/E of 11.69, so we one might conclude that Blackstone Inc. is trading at a premium comparatively.
Also, we should mention that BX has a PEG ratio of 0.96. 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 0.81 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 95, which puts it in the top 38% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.