Blackstone Group (BX) closed at $49.24 in the latest trading session, marking a +0.88% move from the prior day. This change lagged the S&P 500's 1.1% gain on the day. Elsewhere, the Dow gained 1.05%, while the tech-heavy Nasdaq added 1.32%.
Heading into today, shares of the investment manager had lost 1.83% over the past month, outpacing the Finance sector's loss of 6.43% and the S&P 500's loss of 5.05% in that time.
Wall Street will be looking for positivity from BX as it approaches its next earnings report date. The company is expected to report EPS of $0.59, down 22.37% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.48 billion, down 19.36% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.32 per share and revenue of $5.53 billion. These totals would mark changes of +2.65% and -7.44%, respectively, from last year.
It is also important to note the 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. BX currently has a Zacks Rank of #3 (Hold).
Investors should also note BX's current valuation metrics, including its Forward P/E ratio of 21.08. This valuation marks a premium compared to its industry's average Forward P/E of 11.11.
It is also worth noting that BX currently has a PEG ratio of 1.03. 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 Financial - Investment Management was holding an average PEG ratio of 1.51 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 64, putting it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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