The most recent trading session ended with BP (BP) standing at $28.08, reflecting a -0.85% shift from the previouse trading day's closing. This change was narrower than the S&P 500's 2.36% loss on the day. Elsewhere, the Dow saw a downswing of 2.48%, while the tech-heavy Nasdaq depreciated by 2.55%.
Prior to today's trading, shares of the oil and gas company had lost 18.03% over the past month. This has lagged the Oils-Energy sector's loss of 9.26% and the S&P 500's loss of 5.6% in that time.
The investment community will be closely monitoring the performance of BP in its forthcoming earnings report. The company is predicted to post an EPS of $0.60, indicating a 38.14% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $57.08 billion, up 14.25% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.78 per share and revenue of $241.39 billion, which would represent changes of -14.72% and +24.02%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for BP. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 13.86% lower. Right now, BP possesses a Zacks Rank of #3 (Hold).
Looking at valuation, BP is presently trading at a Forward P/E ratio of 10.18. This valuation marks a premium compared to its industry's average Forward P/E of 8.32.
Investors should also note that BP has a PEG ratio of 1.37 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The average PEG ratio for the Oil and Gas - Integrated - International industry stood at 1.37 at the close of the market yesterday.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 175, positioning it in the bottom 30% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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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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