Blackstone Group (BX) closed the most recent trading day at $39.25, moving -0.56% from the previous trading session. This move lagged the S&P 500's daily gain of 0.21%. At the same time, the Dow added 0.17%, and the tech-heavy Nasdaq gained 0.27%.
Heading into today, shares of the investment manager had lost 0.95% over the past month, outpacing the Finance sector's loss of 4.62% and the S&P 500's loss of 5.26% 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 $0.60 per share. This would mark a year-over-year decline of 33.33%. Meanwhile, our latest consensus estimate is calling for revenue of $1.44 billion, down 26.8% from the prior-year quarter.
BX's full-year Zacks Consensus Estimates are calling for earnings of $2.35 per share and revenue of $5.54 billion. These results would represent year-over-year changes of +3.98% and -7.31%, 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.18% higher. BX currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, BX is holding a Forward P/E ratio of 16.79. For comparison, its industry has an average Forward P/E of 11.89, which means BX is trading at a premium to the group.
We can also see that BX currently has a PEG ratio of 0.86. 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 1.54 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 50, which puts it in the top 20% 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.
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