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Blackstone Group (BX) Stock Sinks As Market Gains: What You Should Know
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Blackstone Group (BX - Free Report) closed at $43.39 in the latest trading session, marking a -1.92% move from the prior day. This change lagged the S&P 500's daily gain of 0.97%. Meanwhile, the Dow gained 1.35%, and the Nasdaq, a tech-heavy index, added 1.39%.
Coming into today, shares of the investment manager had gained 8.94% in the past month. In that same time, the Finance sector gained 1.01%, while the S&P 500 gained 0.64%.
BX will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.60, down 33.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.44 billion, down 26.8% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.36 per share and revenue of $5.89 billion, which would represent changes of +4.42% and -1.44%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for BX. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 0.24% higher within the past month. BX is currently a Zacks Rank #3 (Hold).
Digging into valuation, BX currently has a Forward P/E ratio of 18.77. This represents a premium compared to its industry's average Forward P/E of 12.29.
Also, we should mention that BX has a PEG ratio of 0.96. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Financial - Investment Management stocks are, on average, holding a PEG ratio of 1.71 based on yesterday's closing prices.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 96, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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 Group (BX) Stock Sinks As Market Gains: What You Should Know
Blackstone Group (BX - Free Report) closed at $43.39 in the latest trading session, marking a -1.92% move from the prior day. This change lagged the S&P 500's daily gain of 0.97%. Meanwhile, the Dow gained 1.35%, and the Nasdaq, a tech-heavy index, added 1.39%.
Coming into today, shares of the investment manager had gained 8.94% in the past month. In that same time, the Finance sector gained 1.01%, while the S&P 500 gained 0.64%.
BX will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.60, down 33.33% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.44 billion, down 26.8% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.36 per share and revenue of $5.89 billion, which would represent changes of +4.42% and -1.44%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for BX. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 0.24% higher within the past month. BX is currently a Zacks Rank #3 (Hold).
Digging into valuation, BX currently has a Forward P/E ratio of 18.77. This represents a premium compared to its industry's average Forward P/E of 12.29.
Also, we should mention that BX has a PEG ratio of 0.96. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Financial - Investment Management stocks are, on average, holding a PEG ratio of 1.71 based on yesterday's closing prices.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 96, putting it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.