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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 $76.59, marking a -1.82% move from the previous day. This change lagged the S&P 500's daily loss of 1.17%. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 2.45%.
Coming into today, shares of the investment manager had gained 0.48% in the past month. In that same time, the Finance sector lost 2.19%, while the S&P 500 lost 5.25%.
Blackstone Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.02, down 40.35% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.68 billion, down 39.81% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Blackstone Inc.These revisions help to show the ever-changing nature of near-term business trends. 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.09% lower. Blackstone Inc. currently has a Zacks Rank of #4 (Sell).
In terms of valuation, Blackstone Inc. is currently trading at a Forward P/E ratio of 16.24. Its industry sports an average Forward P/E of 8.95, so we one might conclude that Blackstone Inc. is trading at a premium comparatively.
We can also see that BX currently has a PEG ratio of 2.03. 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. The Financial - Miscellaneous Services industry currently had an average PEG ratio of 0.7 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 51, putting it in the top 21% 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.
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) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Blackstone Inc. (BX - Free Report) closed at $76.59, marking a -1.82% move from the previous day. This change lagged the S&P 500's daily loss of 1.17%. Elsewhere, the Dow lost 1.02%, while the tech-heavy Nasdaq lost 2.45%.
Coming into today, shares of the investment manager had gained 0.48% in the past month. In that same time, the Finance sector lost 2.19%, while the S&P 500 lost 5.25%.
Blackstone Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.02, down 40.35% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.68 billion, down 39.81% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Blackstone Inc.These revisions help to show the ever-changing nature of near-term business trends. 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. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 5.09% lower. Blackstone Inc. currently has a Zacks Rank of #4 (Sell).
In terms of valuation, Blackstone Inc. is currently trading at a Forward P/E ratio of 16.24. Its industry sports an average Forward P/E of 8.95, so we one might conclude that Blackstone Inc. is trading at a premium comparatively.
We can also see that BX currently has a PEG ratio of 2.03. 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. The Financial - Miscellaneous Services industry currently had an average PEG ratio of 0.7 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 51, putting it in the top 21% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.