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Blackstone Inc. (BX) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Blackstone Inc. (BX - Free Report) closed at $113.50, marking a +0.74% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.67%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 1.14%.
Heading into today, shares of the investment manager had gained 14.54% over the past month, outpacing the Finance sector's loss of 3.09% and the S&P 500's loss of 0.73% in that time.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release. On that day, Blackstone Inc. is projected to report earnings of $0.99 per share, which would represent a year-over-year decline of 6.6%. Our most recent consensus estimate is calling for quarterly revenue of $2.5 billion, down 3.71% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.16 per share and revenue of $10.52 billion, which would represent changes of -19.54% and -16.42%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Blackstone Inc.Recent revisions tend to reflect the latest near-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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.19% higher within the past month. Blackstone Inc. is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Blackstone Inc. is currently trading at a Forward P/E ratio of 27.07. For comparison, its industry has an average Forward P/E of 10.22, which means Blackstone Inc. is trading at a premium to the group.
We can also see that BX currently has a PEG ratio of 2.05. 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 1.03 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Blackstone Inc. (BX - Free Report) closed at $113.50, marking a +0.74% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.67%. Meanwhile, the Dow gained 0.25%, and the Nasdaq, a tech-heavy index, added 1.14%.
Heading into today, shares of the investment manager had gained 14.54% over the past month, outpacing the Finance sector's loss of 3.09% and the S&P 500's loss of 0.73% in that time.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release. On that day, Blackstone Inc. is projected to report earnings of $0.99 per share, which would represent a year-over-year decline of 6.6%. Our most recent consensus estimate is calling for quarterly revenue of $2.5 billion, down 3.71% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.16 per share and revenue of $10.52 billion, which would represent changes of -19.54% and -16.42%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Blackstone Inc.Recent revisions tend to reflect the latest near-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. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.19% higher within the past month. Blackstone Inc. is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Blackstone Inc. is currently trading at a Forward P/E ratio of 27.07. For comparison, its industry has an average Forward P/E of 10.22, which means Blackstone Inc. is trading at a premium to the group.
We can also see that BX currently has a PEG ratio of 2.05. 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 1.03 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 172, putting it in the bottom 32% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.