The Blackstone Group L.P. ( BX ) saw a big move last session, as the company's shares fell by over 5% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for BX, as the stock is now down about 18% since Aug 4.
This slump shouldn't be too much of a surprise to investors, as the leading investment and advisory firm has seen 1 negative revision in the past few weeks and its current year earnings consensus has moved lower over the last 30 days. This suggests there may be more trouble down the road. So make sure to keep an eye on this stock going forward to see if this recent slump will continue, as the earnings picture definitely suggests that this might be the case.
BX currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.
A better-ranked stock in the same sector is Lazard Ltd. ( LAZ ), holding a Zacks Rank #2 (Buy).
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