Blackstone Inc. (BX) Stock Sinks As Market Gains: What You Should Know
Blackstone Inc. (BX) closed the most recent trading day at $125.82, moving -1.37% from the previous trading session. This change lagged the S&P 500's daily gain of 0.95%.
Heading into today, shares of the investment manager had gained 8.05% over the past month, outpacing the Finance sector's loss of 2.21% and the S&P 500's loss of 1.87% in that time.
Investors will be hoping for strength from BX as it approaches its next earnings release. In that report, analysts expect BX to post earnings of $0.83 per share. This would mark year-over-year growth of 31.75%. Our most recent consensus estimate is calling for quarterly revenue of $2.02 billion, up 38.39% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.70 per share and revenue of $8.59 billion. These totals would mark changes of +39.62% and +31.86%, 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 such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. BX is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, BX is currently trading at a Forward P/E ratio of 34.52. Its industry sports an average Forward P/E of 11.86, so we one might conclude that BX is trading at a premium comparatively.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 87, putting it in the top 35% 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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