In a rising market strong stocks continue rising, even when they have to climb a wall of worry about tariffs, inflation and geopolitics. Investment firm Blackstone is climbing a wall of its own. It's completing the right side of a cup base with earnings due in a week. The question is: Can it climb that wall and break out?
On Thursday, the Relative Strength (RS) Rating for Blackstone stock climbed from 69 to 77. The upwardly revised rating shows that Blackstone stock tops 77% of all stocks for price performance this past year.
Blackstone Rising Fast, Can It Break Into Top Tier?
The bump up also places Blackstone just below a high water mark. Market research shows that the market's biggest winners often have an RS Rating over 80 as they begin their biggest runs. See if Blackstone can continue to rebound and hit that benchmark.
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New York-based Blackstone is building a cup without handle with a 200.96 entry. See if it can break out in volume at least 40% above average. Its stock jumped nearly 4% Thursday, and it's up 6.6% for the week. It looks set to close higher for a fifth week in a row.
Regarding top and bottom line numbers, the company has posted four quarters of accelerating earnings growth. Its earnings rose 3%, 7%, 52% and 55% last quarter to $1.52 per share.
Revenue Growth Erratic But As Much As 140% Higher
Revenue gains have grown erratically during that time period. Blackstone reported a 1% dip in revenue, than rises of 44% and 140%, with an 11% drop last quarter to $3.29 billion. The company is expected to release its next quarterly numbers on or around July 24. Consensus is that EPS will continue strong and sales will resume growth, rising 11%, according to FactSet.
Blackstone earns the No. 8 rank among its peers in the 119-stock Finance-Investment Management industry group. Carlyle Group, Acadian Asset Management and WisdomTree are among the top 5 highly rated stocks in the group.
IBD's unique Relative Strength Rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks stacks up against all the other stocks in our database.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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