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In the latest trading session, Blackstone Inc. (BX) closed at $123.03, marking a +0.82% move from the previous day. This change outpaced the S&P 500's 0.75% gain on the day.
Heading into today, shares of the investment manager had lost 9.63% over the past month, lagging the Finance sector's gain of 1.42% and the S&P 500's loss of 0.05% in that time.
Investors will be hoping for strength from BX as it approaches its next earnings release, which is expected to be October 21, 2021. On that day, BX is projected to report earnings of $0.86 per share, which would represent year-over-year growth of 36.51%. Meanwhile, our latest consensus estimate is calling for revenue of $2.22 billion, up 51.96% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.78 per share and revenue of $9.01 billion. These totals would mark changes of +42.64% and +38.32%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for BX. These recent revisions tend to reflect the evolving nature of short-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.
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 2.16% higher. BX is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that BX has a Forward P/E ratio of 32.32 right now. For comparison, its industry has an average Forward P/E of 12.68, which means BX is trading at a premium to the group.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 89, putting it in the top 36% 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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Blackstone Inc. (BX) : Free Stock Analysis Report
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