In the latest trading session, BP (BP) closed at $33.79, marking a -0.21% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.55%. Elsewhere, the Dow gained 1.01%, while the tech-heavy Nasdaq lost 0.14%.
Prior to today's trading, shares of the oil and gas company had gained 2.23% over the past month. This has outpaced the Oils-Energy sector's gain of 1.64% and the S&P 500's loss of 6.22% in that time.
Investors will be eagerly watching for the performance of BP in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.68, signifying a 29.9% drop compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $57.08 billion, indicating a 14.25% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.22 per share and a revenue of $241.39 billion, signifying shifts of -1.23% and +24.02%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for BP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Within the past 30 days, our consensus EPS projection has moved 7.2% lower. BP presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, BP is currently exchanging hands at a Forward P/E ratio of 10.53. This indicates a premium in contrast to its industry's Forward P/E of 8.46.
Meanwhile, BP's PEG ratio is currently 1.2. 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. As the market closed yesterday, the Oil and Gas - Integrated - International industry was having an average PEG ratio of 1.4.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 150, putting it in the bottom 41% of all 250+ industries.
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.
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 ReportThis article originally published on Zacks Investment Research (zacks.com).
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