In the latest trading session, Blackstone Group (BX) closed at $53.84, marking a +1.03% move from the previous day. The stock outpaced the S&P 500’s daily loss of 3.17%. Meanwhile, the Dow lost 3.77%, and the Nasdaq, a tech-heavy index, lost 2.28%.
Heading into today, shares of the investment manager had lost 12.8% over the past month, lagging the Finance sector’s loss of 7.47% and the S&P 500’s loss of 8.05% in that time.
BX will be looking to display strength as it nears 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales 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.
It is also important to note the 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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. The Zacks Consensus EPS estimate has moved 0.52% higher within the past month. BX is currently a Zacks Rank #3 (Hold).
Investors should also note BX’s current valuation metrics, including its Forward P/E ratio of 17.48. Its industry sports an average Forward P/E of 9.66, so we one might conclude that BX is trading at a premium comparatively.
We can also see that BX currently has a PEG ratio of 1.01. 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 1.01 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 18, which puts it in the top 8% 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.