BP (BP) Gains As Market Dips: What You Should Know
The most recent trading session ended with BP (BP) standing at $37.32, reflecting a +1.83% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 0.19%. Elsewhere, the Dow gained 0.1%, while the tech-heavy Nasdaq lost 0.54%.
Shares of the oil and gas company have appreciated by 1.69% over the course of the past month, underperforming the Oils-Energy sector's gain of 3.8% and the S&P 500's gain of 3.18%.
Analysts and investors alike will be keeping a close eye on the performance of BP in its upcoming earnings disclosure. On that day, BP is projected to report earnings of $1.16 per share, which would represent a year-over-year decline of 30.12%. In the meantime, our current consensus estimate forecasts the revenue to be $57.93 billion, indicating a 1.72% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $4.97 per share and a revenue of $227.67 billion, demonstrating changes of +3.97% and +6.87%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for BP. Recent revisions tend to reflect the latest near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 0.2% lower within the past month. Currently, BP is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, BP is currently being traded at a Forward P/E ratio of 7.37. This represents a premium compared to its industry's average Forward P/E of 7.33.
We can also see that BP currently has a PEG ratio of 1.84. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 1.58 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 187, this industry ranks in the bottom 26% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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BP p.l.c. (BP) : Free Stock Analysis Report
