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Blackstone Inc. (BX) Stock Drops Despite Market Gains: Important Facts to Note
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Blackstone Inc. (BX - Free Report) closed the most recent trading day at $104.81, moving -0.3% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.63%. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw an increase of 0.39%.
The investment manager's stock has dropped by 6.69% in the past month, falling short of the Finance sector's loss of 3.32% and the S&P 500's loss of 3.39%.
Analysts and investors alike will be keeping a close eye on the performance of Blackstone Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on October 19, 2023. 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.51 billion, down 3.04% from the year-ago period.
BX's full-year Zacks Consensus Estimates are calling for earnings of $4.17 per share and revenue of $10.55 billion. These results would represent year-over-year changes of -19.34% and -16.21%, respectively.
Investors might also notice recent changes to analyst estimates for Blackstone Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.15% rise in the Zacks Consensus EPS estimate. Right now, Blackstone Inc. possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Blackstone Inc. is at present trading with a Forward P/E ratio of 25.22. This expresses a premium compared to the average Forward P/E of 10.09 of its industry.
Meanwhile, BX's PEG ratio is currently 1.92. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Financial - Miscellaneous Services industry had an average PEG ratio of 1.13.
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 167, placing it within the bottom 34% of over 250 industries.
The Zacks Industry Rank is ordered 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Blackstone Inc. (BX) Stock Drops Despite Market Gains: Important Facts to Note
Blackstone Inc. (BX - Free Report) closed the most recent trading day at $104.81, moving -0.3% from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.63%. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw an increase of 0.39%.
The investment manager's stock has dropped by 6.69% in the past month, falling short of the Finance sector's loss of 3.32% and the S&P 500's loss of 3.39%.
Analysts and investors alike will be keeping a close eye on the performance of Blackstone Inc. in its upcoming earnings disclosure. The company's earnings report is set to go public on October 19, 2023. 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.51 billion, down 3.04% from the year-ago period.
BX's full-year Zacks Consensus Estimates are calling for earnings of $4.17 per share and revenue of $10.55 billion. These results would represent year-over-year changes of -19.34% and -16.21%, respectively.
Investors might also notice recent changes to analyst estimates for Blackstone Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.15% rise in the Zacks Consensus EPS estimate. Right now, Blackstone Inc. possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Blackstone Inc. is at present trading with a Forward P/E ratio of 25.22. This expresses a premium compared to the average Forward P/E of 10.09 of its industry.
Meanwhile, BX's PEG ratio is currently 1.92. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Financial - Miscellaneous Services industry had an average PEG ratio of 1.13.
The Financial - Miscellaneous Services industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 167, placing it within the bottom 34% of over 250 industries.
The Zacks Industry Rank is ordered 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.