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BP (BP) closed the most recent trading day at $23.03, moving -0.17% from the previous trading session. This change lagged the S&P 500's 0.15% loss on the day. Elsewhere, the Dow lost 0.07%, while the tech-heavy Nasdaq lost 0.07%.
BP will be looking to display strength as it nears its next earnings release. On that day, BP is projected to report earnings of $0.12 per share, which would represent a year-over-year decline of 84.21%. Meanwhile, our latest consensus estimate is calling for revenue of $45.31 billion, down 37.22% from the prior-year quarter.
Investors should also note any recent changes to analyst estimates for BP. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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, the Zacks Consensus EPS estimate has moved 19.97% higher. BP is currently a Zacks Rank #3 (Hold).
Digging into valuation, BP currently has a Forward P/E ratio of 12.34. For comparison, its industry has an average Forward P/E of 19.22, which means BP is trading at a discount to the group.
We can also see that BP currently has a PEG ratio of 3.09. 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 Oil and Gas - Integrated - International industry currently had an average PEG ratio of 3.09 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 118, which puts it in the top 47% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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BP p.l.c. (BP) : Free Stock Analysis Report
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