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Blackstone Inc. (BX) Rises Yet Lags Behind Market: Some Facts Worth Knowing
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The latest trading session saw Blackstone Inc. (BX - Free Report) ending at $117.09, denoting a +0.09% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.88%. Elsewhere, the Dow saw an upswing of 0.54%, while the tech-heavy Nasdaq appreciated by 1.35%.
The the stock of investment manager has fallen by 7.23% in the past month, lagging the Finance sector's loss of 4% and the S&P 500's gain of 0.64%.
Investors will be eagerly watching for the performance of Blackstone Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 25, 2024. It is anticipated that the company will report an EPS of $1, marking a 6.54% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $2.48 billion, indicating a 5.71% upward movement from the same quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for Blackstone Inc. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
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, there's been a 5.47% fall in the Zacks Consensus EPS estimate. Blackstone Inc. is holding a Zacks Rank of #5 (Strong Sell) right now.
With respect to valuation, Blackstone Inc. is currently being traded at a Forward P/E ratio of 23.26. This signifies a premium in comparison to the average Forward P/E of 10.17 for its industry.
One should further note that BX currently holds a PEG ratio of 3.25. 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 0.92 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Blackstone Inc. (BX) Rises Yet Lags Behind Market: Some Facts Worth Knowing
The latest trading session saw Blackstone Inc. (BX - Free Report) ending at $117.09, denoting a +0.09% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.88%. Elsewhere, the Dow saw an upswing of 0.54%, while the tech-heavy Nasdaq appreciated by 1.35%.
The the stock of investment manager has fallen by 7.23% in the past month, lagging the Finance sector's loss of 4% and the S&P 500's gain of 0.64%.
Investors will be eagerly watching for the performance of Blackstone Inc. in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on January 25, 2024. It is anticipated that the company will report an EPS of $1, marking a 6.54% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $2.48 billion, indicating a 5.71% upward movement from the same quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for Blackstone Inc. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
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, there's been a 5.47% fall in the Zacks Consensus EPS estimate. Blackstone Inc. is holding a Zacks Rank of #5 (Strong Sell) right now.
With respect to valuation, Blackstone Inc. is currently being traded at a Forward P/E ratio of 23.26. This signifies a premium in comparison to the average Forward P/E of 10.17 for its industry.
One should further note that BX currently holds a PEG ratio of 3.25. 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 0.92 as of yesterday's close.
The Financial - Miscellaneous Services industry is part of the Finance sector. This group has a Zacks Industry Rank of 176, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.