Blackstone Group (BX) closed the most recent trading day at $42.80, moving +0.82% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.04%. Meanwhile, the Dow lost 0.05%, and the Nasdaq, a tech-heavy index, lost 0.01%.
Coming into today, shares of the investment manager had gained 9.41% in the past month. In that same time, the Finance sector lost 0.25%, while the S&P 500 gained 0.34%.
Investors will be hoping for strength from BX as it approaches its next earnings release. On that day, BX is projected to report earnings of $0.60 per share, which would represent a year-over-year decline of 33.33%. Our most recent consensus estimate is calling for quarterly revenue 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 $5.54 billion, which would represent changes of +4.42% and -7.22%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for BX. Recent revisions tend to reflect the latest near-term business trends. 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.
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, the Zacks Consensus EPS estimate has moved 0.55% higher. BX is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, BX is currently trading at a Forward P/E ratio of 18. This represents a premium compared to its industry's average Forward P/E of 12.12.
It is also worth noting that BX currently has a PEG ratio of 0.92. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Financial - Investment Management industry currently had an average PEG ratio of 1.65 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 89, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
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