Has Blackstone (BX) Outpaced Other Finance Stocks This Year?
Is (BX) Outperforming Other Finance Stocks This Year?
For those looking to find strong Finance stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Blackstone (BX) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Finance peers, we might be able to answer that question.
Blackstone is a member of the Finance sector. This group includes 899 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. BX is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for BX's full-year earnings has moved 4.06% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that BX has returned about 99.04% since the start of the calendar year. Meanwhile, the Finance sector has returned an average of 21.94% on a year-to-date basis. This means that Blackstone is outperforming the sector as a whole this year.
Looking more specifically, BX belongs to the Financial - Miscellaneous Services industry, a group that includes 49 individual stocks and currently sits at #92 in the Zacks Industry Rank. On average, stocks in this group have gained 21.97% this year, meaning that BX is performing better in terms of year-to-date returns.
Going forward, investors interested in Finance stocks should continue to pay close attention to BX as it looks to continue its solid performance.
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