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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 the most recent trading day at $46.38, moving -0.19% from the previous trading session. This change lagged the S&P 500's daily gain of 0.45%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 0.75%.
Heading into today, shares of the investment manager had gained 8.57% over the past month, outpacing the Finance sector's gain of 3.37% and the S&P 500's gain of 3.84% in that time.
BX will be looking to display strength as it nears its next earnings release, which is expected to be July 18, 2019. In that report, analysts expect BX to post earnings of $0.58 per share. This would mark a year-over-year decline of 35.56%. Meanwhile, our latest consensus estimate is calling for revenue of $1.44 billion, down 26.8% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.31 per share and revenue of $5.59 billion, which would represent changes of +2.21% and -6.4%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for BX. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.18% lower. BX is currently a Zacks Rank #3 (Hold).
Digging into valuation, BX currently has a Forward P/E ratio of 20.14. For comparison, its industry has an average Forward P/E of 12.38, which means BX is trading at a premium to the group.
Investors should also note that BX has a PEG ratio of 1.03 right now. 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. The Financial - Investment Management was holding an average PEG ratio of 1.85 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 36% 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.
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 Group (BX) Stock Sinks As Market Gains: What You Should Know
Blackstone Group (BX - Free Report) closed the most recent trading day at $46.38, moving -0.19% from the previous trading session. This change lagged the S&P 500's daily gain of 0.45%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, added 0.75%.
Heading into today, shares of the investment manager had gained 8.57% over the past month, outpacing the Finance sector's gain of 3.37% and the S&P 500's gain of 3.84% in that time.
BX will be looking to display strength as it nears its next earnings release, which is expected to be July 18, 2019. In that report, analysts expect BX to post earnings of $0.58 per share. This would mark a year-over-year decline of 35.56%. Meanwhile, our latest consensus estimate is calling for revenue of $1.44 billion, down 26.8% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.31 per share and revenue of $5.59 billion, which would represent changes of +2.21% and -6.4%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for BX. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.18% lower. BX is currently a Zacks Rank #3 (Hold).
Digging into valuation, BX currently has a Forward P/E ratio of 20.14. For comparison, its industry has an average Forward P/E of 12.38, which means BX is trading at a premium to the group.
Investors should also note that BX has a PEG ratio of 1.03 right now. 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. The Financial - Investment Management was holding an average PEG ratio of 1.85 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 91, which puts it in the top 36% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.