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Blackstone Group (BX) Gains But Lags Market: What You Should Know

Zacks Equity Research
·3-min read

In the latest trading session, Blackstone Group (BX) closed at $58.95, marking a +0.79% move from the previous day. The stock lagged the S&P 500's daily gain of 2.62%. Elsewhere, the Dow gained 3.16%, while the tech-heavy Nasdaq added 2.06%.

BX will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $0.43, down 24.56% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.14 billion, down 14.1% from the year-ago period.

For the full year, our Zacks Consensus Estimates are projecting earnings of $2.05 per share and revenue of $5.19 billion, which would represent changes of -11.26% and -7.04%, respectively, from the prior year.

It is also important to note the recent changes to analyst estimates for BX. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

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Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.

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 0.07% higher. BX is holding a Zacks Rank of #3 (Hold) right now.

Looking at its valuation, BX is holding a Forward P/E ratio of 28.59. Its industry sports an average Forward P/E of 10.92, so we one might conclude that BX is trading at a premium comparatively.

Meanwhile, BX's PEG ratio is currently 14.59. 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 1.64 as of yesterday's close.

The Financial - Investment Management industry is part of the Finance sector. This group has a Zacks Industry Rank of 154, putting it in the bottom 40% 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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Zacks Investment Research