In the latest trading session, Blackstone Group (BX) closed at $44.19, marking a -0.47% move from the previous day. This change was narrower than the S&P 500's 0.95% loss on the day. At the same time, the Dow lost 0.67%, and the tech-heavy Nasdaq lost 1.51%.
Coming into today, shares of the investment manager had gained 9.23% in the past month. In that same time, the Finance sector gained 2.3%, while the S&P 500 gained 4.32%.
Investors will be hoping for strength from BX as it approaches its nex t earnings release. On that day, BX is projected to report earnings of $0.60 per share, which would represent a year-over-year decline of 33.33%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.44 billion, down 26.8% from the year-ago period.
BX's full-year Zacks Consensus Estimates are calling for earnings of $2.36 per share and revenue of $5.89 billion. These results would represent year-over-year changes of +4.42% and -1.44%, respectively.
It is also important to note the recent changes to analyst estimates for BX. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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.
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 0.24% higher. BX is currently sporting a Zacks Rank of #2 (Buy).
Digging into valuation, BX currently has a Forward P/E ratio of 18.84. Its industry sports an average Forward P/E of 12.18, so we one might conclude that BX is trading at a premium comparatively.
It is also worth noting that BX currently has a PEG ratio of 0.96. 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 1.83 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 104, which puts it in the top 41% 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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