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Blackstone Inc. (BX) Increases Despite Market Slip: Here's What You Need to Know
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In the latest trading session, Blackstone Inc. (BX - Free Report) closed at $129.37, marking a +0.7% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.01%. Elsewhere, the Dow saw an upswing of 0.15%, while the tech-heavy Nasdaq appreciated by 0.36%.
Shares of the investment manager have appreciated by 23.89% over the course of the past month, outperforming the Finance sector's gain of 8.98% and the S&P 500's gain of 5.21%.
Analysts and investors alike will be keeping a close eye on the performance of Blackstone Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.04, indicating a 2.8% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.55 billion, up 8.86% from the year-ago period.
BX's full-year Zacks Consensus Estimates are calling for earnings of $3.87 per share and revenue of $9.71 billion. These results would represent year-over-year changes of -25.15% and -22.89%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Blackstone Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, there's been a 0.91% fall in the Zacks Consensus EPS estimate. Right now, Blackstone Inc. possesses a Zacks Rank of #5 (Strong Sell).
In the context of valuation, Blackstone Inc. is at present trading with a Forward P/E ratio of 33.22. Its industry sports an average Forward P/E of 10.42, so one might conclude that Blackstone Inc. is trading at a premium comparatively.
Investors should also note that BX has a PEG ratio of 3.16 right now. 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. The average PEG ratio for the Financial - Miscellaneous Services industry stood at 1.15 at the close of the market yesterday.
The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 144, this industry ranks in the bottom 43% of all industries, numbering over 250.
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.
To follow BX in the coming trading sessions, be sure to utilize Zacks.com.
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Blackstone Inc. (BX) Increases Despite Market Slip: Here's What You Need to Know
In the latest trading session, Blackstone Inc. (BX - Free Report) closed at $129.37, marking a +0.7% move from the previous day. The stock's performance was ahead of the S&P 500's daily loss of 0.01%. Elsewhere, the Dow saw an upswing of 0.15%, while the tech-heavy Nasdaq appreciated by 0.36%.
Shares of the investment manager have appreciated by 23.89% over the course of the past month, outperforming the Finance sector's gain of 8.98% and the S&P 500's gain of 5.21%.
Analysts and investors alike will be keeping a close eye on the performance of Blackstone Inc. in its upcoming earnings disclosure. The company is predicted to post an EPS of $1.04, indicating a 2.8% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.55 billion, up 8.86% from the year-ago period.
BX's full-year Zacks Consensus Estimates are calling for earnings of $3.87 per share and revenue of $9.71 billion. These results would represent year-over-year changes of -25.15% and -22.89%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Blackstone Inc. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, there's been a 0.91% fall in the Zacks Consensus EPS estimate. Right now, Blackstone Inc. possesses a Zacks Rank of #5 (Strong Sell).
In the context of valuation, Blackstone Inc. is at present trading with a Forward P/E ratio of 33.22. Its industry sports an average Forward P/E of 10.42, so one might conclude that Blackstone Inc. is trading at a premium comparatively.
Investors should also note that BX has a PEG ratio of 3.16 right now. 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. The average PEG ratio for the Financial - Miscellaneous Services industry stood at 1.15 at the close of the market yesterday.
The Financial - Miscellaneous Services industry is part of the Finance sector. With its current Zacks Industry Rank of 144, this industry ranks in the bottom 43% of all industries, numbering over 250.
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.
To follow BX in the coming trading sessions, be sure to utilize Zacks.com.