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Blackstone Inc. (BX) closed the most recent trading day at $85.16, moving +0.14% from the previous trading session. This change outpaced the S&P 500’s 0.12% loss on the day. At the same time, the Dow added 0.1%, and the tech-heavy Nasdaq gained 0.05%.
Coming into today, shares of the investment manager had lost 3.4% in the past month. In that same time, the Finance sector gained 5.77%, while the S&P 500 gained 5.93%.
Investors will be hoping for strength from Blackstone Inc. as it approaches its next earnings release. The company is expected to report EPS of $1.05, down 38.6% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $2.76 billion, down 38.16% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $5.15 per share and revenue of $13.05 billion. These totals would mark changes of +7.97% and +11.89%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Blackstone Inc.These recent revisions tend to reflect the evolving nature of short-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. 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.
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 0.31% lower. Blackstone Inc. is currently a Zacks Rank #3 (Hold).
Digging into valuation, Blackstone Inc. currently has a Forward P/E ratio of 16.52. Its industry sports an average Forward P/E of 10.43, 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 2.06. 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 industry currently had an average PEG ratio of 0.79 as of yesterday’s close.
The Financial – Miscellaneous Services industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 138, which puts it in the bottom 46% 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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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
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