In the latest trading session, Blackstone Inc. (BX) closed at $95.36, marking a +1.05% move from the previous day. This change outpaced the S&P 500's 0.34% gain on the day. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq gained 0.02%.
Coming into today, shares of the investment manager had lost 12.28% in the past month. In that same time, the Finance sector lost 6.7%, while the S&P 500 lost 7.95%.
Blackstone Inc. will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.02, down 20.31% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.59 billion, down 14.92% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $5.17 per share and revenue of $13.22 billion, which would represent changes of +8.39% and +13.35%, respectively, from the prior year.
Any recent changes to analyst estimates for Blackstone Inc. should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection has moved 0.03% higher. Blackstone Inc. is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Blackstone Inc. is currently trading at a Forward P/E ratio of 18.27. Its industry sports an average Forward P/E of 10.5, so we one might conclude that Blackstone Inc. is trading at a premium comparatively.
We can also see that BX currently has a PEG ratio of 1.79. 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 - Miscellaneous Services was holding an average PEG ratio of 0.58 at yesterday's closing price.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 147, which puts it in the bottom 42% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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