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In the latest trading session, BP (BP) closed at $34.12, marking a -0.2% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.08%. At the same time, the Dow lost 0.81%, and the tech-heavy Nasdaq gained 0.22%.
Heading into today, shares of the oil and gas company had gained 14.39% over the past month, outpacing the Oils-Energy sector's gain of 10.73% and the S&P 500's gain of 1.03% in that time.
BP will be looking to display strength as it nears its next earnings release. The company is expected to report EPS of $1.62, up 95.18% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $50.5 billion, up 34.31% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.76 per share and revenue of $210.35 billion, which would represent changes of +76.96% and +28.11%, respectively, from the prior year.
Any recent changes to analyst estimates for BP should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 4.65% higher. BP is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that BP has a Forward P/E ratio of 5.06 right now. This valuation marks a discount compared to its industry's average Forward P/E of 5.38.
Investors should also note that BP has a PEG ratio of 0.99 right now. 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. BP's industry had an average PEG ratio of 0.51 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 59, which puts it in the top 24% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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BP p.l.c. (BP) : Free Stock Analysis Report
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