Blackstone Group (BX) closed the most recent trading day at $56.76, moving +1.54% from the previous trading session. This change outpaced the S&P 500's 0.49% gain on the day. Elsewhere, the Dow gained 0.57%, while the tech-heavy Nasdaq added 0.67%.
Prior to today's trading, shares of the investment manager had gained 2.74% over the past month. This has outpaced the Finance sector's gain of 1.73% and lagged the S&P 500's gain of 3.03% 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.
Investors should also note any 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 0.05% higher. BX is holding a Zacks Rank of #2 (Buy) right now.
Looking at its valuation, BX is holding a Forward P/E ratio of 18.31. For comparison, its industry has an average Forward P/E of 10.91, which means BX is trading at a premium to the group.
It is also worth noting that BX currently has a PEG ratio of 1.1. 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 industry currently had an average PEG ratio of 1.45 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 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Blackstone Group Inc/The (BX) : Free Stock Analysis Report
To read this article on Zacks.com click here.