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Blackstone Inc. (BX) Stock Dips While Market Gains: Key Facts
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Blackstone Inc. (BX - Free Report) closed the most recent trading day at $119.34, moving -0.48% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq added 0.02%.
The investment manager's shares have seen a decrease of 6.66% over the last month, not keeping up with the Finance sector's gain of 0.69% and the S&P 500's gain of 3.52%.
Market participants will be closely following the financial results of Blackstone Inc. in its upcoming release. On that day, Blackstone Inc. is projected to report earnings of $1.01 per share, which would represent a year-over-year decline of 5.61%. Simultaneously, our latest consensus estimate expects the revenue to be $2.49 billion, showing a 6.31% escalation compared to the year-ago quarter.
Investors should also take note of any recent adjustments to analyst estimates for Blackstone Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 5.16% decrease. Blackstone Inc. currently has a Zacks Rank of #5 (Strong Sell).
Investors should also note Blackstone Inc.'s current valuation metrics, including its Forward P/E ratio of 23.77. For comparison, its industry has an average Forward P/E of 10.31, which means Blackstone Inc. is trading at a premium to the group.
Meanwhile, BX's PEG ratio is currently 3.73. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Financial - Miscellaneous Services was holding an average PEG ratio of 0.86 at yesterday's closing price.
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 178, positioning it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Blackstone Inc. (BX) Stock Dips While Market Gains: Key Facts
Blackstone Inc. (BX - Free Report) closed the most recent trading day at $119.34, moving -0.48% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.08%. Elsewhere, the Dow lost 0.31%, while the tech-heavy Nasdaq added 0.02%.
The investment manager's shares have seen a decrease of 6.66% over the last month, not keeping up with the Finance sector's gain of 0.69% and the S&P 500's gain of 3.52%.
Market participants will be closely following the financial results of Blackstone Inc. in its upcoming release. On that day, Blackstone Inc. is projected to report earnings of $1.01 per share, which would represent a year-over-year decline of 5.61%. Simultaneously, our latest consensus estimate expects the revenue to be $2.49 billion, showing a 6.31% escalation compared to the year-ago quarter.
Investors should also take note of any recent adjustments to analyst estimates for Blackstone Inc. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 5.16% decrease. Blackstone Inc. currently has a Zacks Rank of #5 (Strong Sell).
Investors should also note Blackstone Inc.'s current valuation metrics, including its Forward P/E ratio of 23.77. For comparison, its industry has an average Forward P/E of 10.31, which means Blackstone Inc. is trading at a premium to the group.
Meanwhile, BX's PEG ratio is currently 3.73. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Financial - Miscellaneous Services was holding an average PEG ratio of 0.86 at yesterday's closing price.
The Financial - Miscellaneous Services industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 178, positioning it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.