Has The Blackstone Group L.P. (BX) Outpaced Other Finance Stocks This Year?
For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Is The Blackstone Group L.P. (BX) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
The Blackstone Group L.P. is a member of our Finance group, which includes 815 different companies and currently sits at #11 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. BX is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BX's full-year earnings has moved 6.79% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that BX has returned about 15.86% since the start of the calendar year. In comparison, Finance companies have returned an average of -1.41%. As we can see, The Blackstone Group L.P. is performing better than its sector in the calendar year.
Looking more specifically, BX belongs to the Financial - Investment Management industry, which includes 49 individual stocks and currently sits at #169 in the Zacks Industry Rank. This group has lost an average of 8.32% so far this year, so BX is performing better in this area.
BX will likely be looking to continue its solid performance, so investors interested Finance stocks should continue to pay close attention to the company.
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