Blackstone Group (NYSE:BX) closed at $57.79 in the latest trading session, marking a -0.53% move from the prior day. This change was narrower than the S&P 500's daily loss of 3.39%. Meanwhile, the Dow lost 3.58%, and the Nasdaq, a tech-heavy index, lost 3.1%.
Coming into today, shares of the investment manager had lost 8.83% in the past month. In that same time, the Finance sector lost 6.57%, while the S&P 500 lost 4.8%.
Investors will be hoping for strength from BX as it approaches its next earnings release. On that day, BX is projected to report earnings of $0.64 per share, which would represent year-over-year growth of 45.45%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.68 billion, up 53.91% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.05 per share and revenue of $7.27 billion, which would represent changes of +32.03% and +30.21%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for BX. These revisions help to show the ever-changing nature of near-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. 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 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. Within the past 30 days, our consensus EPS projection has moved 0.05% higher. BX is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, BX currently has a Forward P/E ratio of 19.06. For comparison, its industry has an average Forward P/E of 9.65, which means BX is trading at a premium to the group.
Also, we should mention that BX has a PEG ratio of 1.1. 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 - Investment Management industry currently had an average PEG ratio of 1 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 21, which puts it in the top 9% 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Blackstone Group Inc/The (BX): Free Stock Analysis Report
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