Yahoo Finance Blackstone Group (BX) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, Blackstone Group (BX) closed at $32.50, marking a -1.28% move from the previous day. This move lagged the S&P 500's daily gain of 1.06%. At the same time, the Dow added 0.83%, and the tech-heavy Nasdaq gained 1.72%.
Heading into today, shares of the investment manager had lost 8.78% over the past month, lagging the Finance sector's gain of 0.25% and the S&P 500's loss of 2.09% in that time.
Wall Street will be looking for positivity from BX as it approaches its next earnings report date. This is expected to be February 7, 2019. On that day, BX is projected to report earnings of $0.67 per share, which would represent a year-over-year decline of 5.63%. Meanwhile, our latest consensus estimate is calling for revenue of $1.58 billion, down 16.14% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.99 per share and revenue of $7.06 billion. These totals would mark changes of +6.41% and -0.88%, respectively, from last year.
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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.65% lower within the past month. BX is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, BX is currently trading at a Forward P/E ratio of 11.02. For comparison, its industry has an average Forward P/E of 10.76, which means BX is trading at a premium to the group.
Investors should also note that BX has a PEG ratio of 1.06 right now. 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 1.1 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 100, which puts it in the top 39% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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The Blackstone Group L.P. (BX) : Free Stock Analysis Report
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