Blackstone Group (BX) closed the most recent trading day at $45.61, moving -0.63% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.56%. Elsewhere, the Dow lost 1.19%, while the tech-heavy Nasdaq lost 1.67%.
Heading into today, shares of the investment manager had lost 9.96% over the past month, lagging the Finance sector's gain of 0.16% and the S&P 500's loss of 1.22% in that time.
Investors will be hoping for strength from BX as it approaches its next earnings release, which is expected to be October 23, 2019. On that day, BX is projected to report earnings of $0.58 per share, which would represent a year-over-year decline of 23.68%. 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 +2.21% and -7.44%, respectively.
Investors should also note any recent changes to analyst estimates for BX. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.36% lower. BX is holding a Zacks Rank of #4 (Sell) right now.
In terms of valuation, BX is currently trading at a Forward P/E ratio of 19.9. For comparison, its industry has an average Forward P/E of 10.71, which means BX is trading at a premium to the group.
Also, we should mention that BX has a PEG ratio of 0.97. 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 1.5 at yesterday's closing price.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% 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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