In the latest trading session, Blackstone Inc. (BX) closed at $83.16, marking a -0.41% move from the previous day. This change was narrower than the S&P 500's 1.03% loss on the day. Meanwhile, the Dow lost 1.11%, and the Nasdaq, a tech-heavy index, lost 0.13%.
Prior to today's trading, shares of the investment manager had lost 15.27% over the past month. This has lagged the Finance sector's loss of 8.75% and the S&P 500's loss of 10.4% in that time.
Wall Street will be looking for positivity from Blackstone Inc. as it approaches its next earnings report date. In that report, analysts expect Blackstone Inc. to post earnings of $1.02 per share. This would mark a year-over-year decline of 20.31%. Our most recent consensus estimate is calling for quarterly revenue of $2.61 billion, down 14.34% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.17 per share and revenue of $13.34 billion. These totals would mark changes of +8.39% and +14.38%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Blackstone Inc.Recent revisions tend to reflect the latest near-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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 remained stagnant. Blackstone Inc. currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Blackstone Inc. is currently trading at a Forward P/E ratio of 16.17. This represents a premium compared to its industry's average Forward P/E of 10.16.
Also, we should mention that BX has a PEG ratio of 1.59. 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. Financial - Miscellaneous Services stocks are, on average, holding a PEG ratio of 0.58 based on yesterday's closing prices.
The Financial - Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 134, which puts it in the bottom 47% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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