In the latest trading session, Blackstone Group (BX) closed at $61.26, marking a -1.91% move from the previous day. This move lagged the S&P 500's daily loss of 1.05%. At the same time, the Dow lost 0.78%, and the tech-heavy Nasdaq lost 1.79%.
Coming into today, shares of the investment manager had lost 2.01% in the past month. In that same time, the Finance sector gained 0.26%, while the S&P 500 gained 1.5%.
Investors will be hoping for strength from BX as it approaches its next earnings release. In that report, analysts expect BX to post earnings of $0.64 per share. This would mark year-over-year growth of 45.45%. Our most recent consensus estimate is calling for quarterly revenue of $1.68 billion, up 53.91% from the year-ago period.
BX's full-year Zacks Consensus Estimates are calling for earnings of $3.05 per share and revenue of $7.27 billion. These results would represent year-over-year changes of +32.03% and +30.21%, respectively.
Investors might also notice recent changes to analyst estimates for BX. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.38% higher. BX currently has a Zacks Rank of #3 (Hold).
Investors should also note BX's current valuation metrics, including its Forward P/E ratio of 20.49. Its industry sports an average Forward P/E of 11.1, so we one might conclude that BX is trading at a premium comparatively.
Meanwhile, BX's PEG ratio is currently 1.19. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BX's industry had an average PEG ratio of 1.43 as of yesterday's close.
The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 15, putting it in the top 6% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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