In the latest trading session, Blackstone Group (BX) closed at $34.22, marking a +1.74% move from the previous day. This change outpaced the S&P 500's 0.7% gain on the day. At the same time, the Dow added 0.58%, and the tech-heavy Nasdaq gained 0.69%.
Heading into today, shares of the investment manager had gained 0.09% over the past month, lagging the Finance sector's gain of 0.56% and the S&P 500's gain of 1.95% in that time.
BX will be looking to display strength as it nears its next earnings release. In that report, analysts expect BX to post earnings of $0.62 per share. This would mark a year-over-year decline of 4.62%. Our most recent consensus estimate is calling for quarterly revenue of $1.93 billion, up 15.83% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.62 per share and revenue of $7.48 billion. These totals would mark changes of +15.93% and +25.27%, respectively, from last 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.91% lower. BX is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, BX currently has a Forward P/E ratio of 12.84. For comparison, its industry has an average Forward P/E of 10.91, which means BX is trading at a premium to the group.
Also, we should mention that BX has a PEG ratio of 3.22. 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 1.7 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 102, which puts it in the top 40% 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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