Blackstone Group (BX) closed at $53.54 in the latest trading session, marking a -0.02% move from the prior day. This change was narrower than the S&P 500's daily loss of 0.31%. At the same time, the Dow lost 0.52%, and the tech-heavy Nasdaq lost 0.28%.
Heading into today, shares of the investment manager had gained 17.13% over the past month, outpacing the Finance sector's gain of 4.26% and the S&P 500's gain of 2.92% in that time.
Investors will be hoping for strength from BX as it approaches its next earnings release. The company is expected to report EPS of $0.58, down 23.46% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $1.48 billion, down 19.36% from the prior-year quarter.
BX's full-year Zacks Consensus Estimates are calling for earnings of $2.31 per share and revenue of $5.53 billion. These results would represent year-over-year changes of +2.06% and -7.44%, respectively.
It is also important to note the recent changes to analyst estimates for BX. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 remained stagnant. BX is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, BX currently has a Forward P/E ratio of 23.22. Its industry sports an average Forward P/E of 12.19, so we one might conclude that BX is trading at a premium comparatively.
Also, we should mention that BX has a PEG ratio of 1.13. 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 was holding an average PEG ratio of 1.63 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 79, putting it in the top 31% 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.
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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