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Blackstone Inc. (BX) Falls More Steeply Than Broader Market: What Investors Need to Know
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Blackstone Inc. (BX - Free Report) closed the latest trading day at $103.80, indicating a -1.01% change from the previous session's end. The stock's change was less than the S&P 500's daily loss of 0.5%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 1.23%.
Prior to today's trading, shares of the investment manager had lost 6.96% over the past month. This has lagged the Finance sector's loss of 3.92% and the S&P 500's loss of 2.4% in that time.
The upcoming earnings release of Blackstone Inc. will be of great interest to investors. The company's earnings report is expected on October 19, 2023. The company is forecasted to report an EPS of $0.99, showcasing a 6.6% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $2.56 billion, indicating a 1.21% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.17 per share and a revenue of $10.64 billion, indicating changes of -19.34% and -15.49%, respectively, from the former year.
Any recent changes to analyst estimates for Blackstone Inc. should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. The Zacks Consensus EPS estimate has moved 0.05% higher within the past month. Blackstone Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Blackstone Inc. is currently trading at a Forward P/E ratio of 25.17. This represents a premium compared to its industry's average Forward P/E of 9.38.
Meanwhile, BX's PEG ratio is currently 1.91. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Financial - Miscellaneous Services was holding an average PEG ratio of 1.15 at yesterday's closing price.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 191, which puts it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Blackstone Inc. (BX) Falls More Steeply Than Broader Market: What Investors Need to Know
Blackstone Inc. (BX - Free Report) closed the latest trading day at $103.80, indicating a -1.01% change from the previous session's end. The stock's change was less than the S&P 500's daily loss of 0.5%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 1.23%.
Prior to today's trading, shares of the investment manager had lost 6.96% over the past month. This has lagged the Finance sector's loss of 3.92% and the S&P 500's loss of 2.4% in that time.
The upcoming earnings release of Blackstone Inc. will be of great interest to investors. The company's earnings report is expected on October 19, 2023. The company is forecasted to report an EPS of $0.99, showcasing a 6.6% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $2.56 billion, indicating a 1.21% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.17 per share and a revenue of $10.64 billion, indicating changes of -19.34% and -15.49%, respectively, from the former year.
Any recent changes to analyst estimates for Blackstone Inc. should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. The Zacks Consensus EPS estimate has moved 0.05% higher within the past month. Blackstone Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Blackstone Inc. is currently trading at a Forward P/E ratio of 25.17. This represents a premium compared to its industry's average Forward P/E of 9.38.
Meanwhile, BX's PEG ratio is currently 1.91. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Financial - Miscellaneous Services was holding an average PEG ratio of 1.15 at yesterday's closing price.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 191, which puts it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.