In the latest trading session, Blackstone Group (BX) closed at $56.14, marking a -0.28% move from the previous day. This change lagged the S&P 500’s daily of 0%. At the same time, the Dow added 0.08%, and the tech-heavy Nasdaq lost 0.18%.
Coming into today, shares of the investment manager had gained 3.8% in the past month. In that same time, the Finance sector gained 2.59%, while the S&P 500 gained 3.37%.
Investors will be hoping for strength from BX as it approaches its next earnings release. The company is expected to report EPS of $0.69, up 3550% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.61 billion, up 219.73% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.28 per share and revenue of $5.41 billion, which would represent changes of +0.88% and -9.47%, respectively, from the prior year.
Any recent changes to analyst estimates for BX should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about 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.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.06% higher within the past month. BX currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, BX is holding a Forward P/E ratio of 24.68. This valuation marks a premium compared to its industry’s average Forward P/E of 12.41.
Investors should also note that BX has a PEG ratio of 1.48 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company’s expected earnings growth rate into account. The Financial – Investment Management industry currently had an average PEG ratio of 1.72 as of yesterday’s close.
The Financial – Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 95, putting it in the top 38% 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.
To follow BX in the coming trading sessions, be sure to utilize Zacks.com.
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