Blackstone Group (BX) closed at $54.63 in the latest trading session, marking a +0.09% move from the prior day. This change outpaced the S&P 500's 0.04% loss on the day. At the same time, the Dow lost 0.1%, and the tech-heavy Nasdaq gained 0.05%.
Prior to today's trading, shares of the investment manager had gained 5.02% over the past month. This has outpaced the Finance sector's gain of 2.52% and the S&P 500's gain of 2.48% 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 $0.69, up 3550% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.61 billion, up 219.73% from the year-ago period.
BX's full-year Zacks Consensus Estimates are calling for earnings of $2.28 per share and revenue of $5.41 billion. These results would represent year-over-year changes of +0.88% and -9.47%, respectively.
It is also important to note the recent changes to analyst estimates for BX. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. BX is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note BX's current valuation metrics, including its Forward P/E ratio of 23.94. Its industry sports an average Forward P/E of 12.15, so we one might conclude that BX is trading at a premium comparatively.
Investors should also note that BX has a PEG ratio of 1.43 right now. 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 1.67 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 94, which puts it in the top 37% 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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