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Blackstone Inc. (BX) Stock Sinks As Market Gains: What You Should Know
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Blackstone Inc. (BX - Free Report) closed the most recent trading day at $110.30, moving -0.79% from the previous trading session. This change lagged the S&P 500's 0.4% gain on the day. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.45%.
Coming into today, shares of the investment manager had gained 11.56% in the past month. In that same time, the Finance sector gained 0.59%, while the S&P 500 lost 1.38%.
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 $0.99 per share. This would mark a year-over-year decline of 6.6%. Meanwhile, our latest consensus estimate is calling for revenue of $2.53 billion, down 2.37% from the prior-year quarter.
BX's full-year Zacks Consensus Estimates are calling for earnings of $4.16 per share and revenue of $10.58 billion. These results would represent year-over-year changes of -19.54% and -15.95%, respectively.
Any recent changes to analyst estimates for Blackstone Inc. should also be noted by investors. 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.
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.
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 0.03% higher. Blackstone Inc. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Blackstone Inc. is currently trading at a Forward P/E ratio of 26.7. For comparison, its industry has an average Forward P/E of 10.43, which means Blackstone Inc. is trading at a premium to the group.
We can also see that BX currently has a PEG ratio of 2.02. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Financial - Miscellaneous Services stocks are, on average, holding a PEG ratio of 1.15 based on yesterday's closing prices.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Blackstone Inc. (BX) Stock Sinks As Market Gains: What You Should Know
Blackstone Inc. (BX - Free Report) closed the most recent trading day at $110.30, moving -0.79% from the previous trading session. This change lagged the S&P 500's 0.4% gain on the day. At the same time, the Dow added 0.13%, and the tech-heavy Nasdaq gained 0.45%.
Coming into today, shares of the investment manager had gained 11.56% in the past month. In that same time, the Finance sector gained 0.59%, while the S&P 500 lost 1.38%.
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 $0.99 per share. This would mark a year-over-year decline of 6.6%. Meanwhile, our latest consensus estimate is calling for revenue of $2.53 billion, down 2.37% from the prior-year quarter.
BX's full-year Zacks Consensus Estimates are calling for earnings of $4.16 per share and revenue of $10.58 billion. These results would represent year-over-year changes of -19.54% and -15.95%, respectively.
Any recent changes to analyst estimates for Blackstone Inc. should also be noted by investors. 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.
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.
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 0.03% higher. Blackstone Inc. is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Blackstone Inc. is currently trading at a Forward P/E ratio of 26.7. For comparison, its industry has an average Forward P/E of 10.43, which means Blackstone Inc. is trading at a premium to the group.
We can also see that BX currently has a PEG ratio of 2.02. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. Financial - Miscellaneous Services stocks are, on average, holding a PEG ratio of 1.15 based on yesterday's closing prices.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 160, which puts it in the bottom 37% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.