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BP (BP) Advances While Market Declines: Some Information for Investors
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The most recent trading session ended with BP (BP - Free Report) standing at $39.62, reflecting a +0.71% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 0.46%. On the other hand, the Dow registered a loss of 0.98%, and the technology-centric Nasdaq decreased by 0.64%.
Shares of the oil and gas company have appreciated by 5.02% over the course of the past month, outperforming the Oils-Energy sector's gain of 4.21% and the S&P 500's loss of 3.04%.
Investors will be eagerly watching for the performance of BP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 7, 2024. The company's upcoming EPS is projected at $1.03, signifying a 37.95% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $61.77 billion, up 8.47% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.02 per share and revenue of $253.16 billion, which would represent changes of +5.02% and +18.84%, respectively, from the prior year.
Any recent changes to analyst estimates for BP should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 4.02% higher. BP is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, BP currently has a Forward P/E ratio of 7.83. This represents a premium compared to its industry's average Forward P/E of 7.19.
Meanwhile, BP's PEG ratio is currently 2.7. 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 average PEG ratio for the Oil and Gas - Integrated - International industry stood at 1.73 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 93, positioning it in the top 37% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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BP (BP) Advances While Market Declines: Some Information for Investors
The most recent trading session ended with BP (BP - Free Report) standing at $39.62, reflecting a +0.71% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 0.46%. On the other hand, the Dow registered a loss of 0.98%, and the technology-centric Nasdaq decreased by 0.64%.
Shares of the oil and gas company have appreciated by 5.02% over the course of the past month, outperforming the Oils-Energy sector's gain of 4.21% and the S&P 500's loss of 3.04%.
Investors will be eagerly watching for the performance of BP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 7, 2024. The company's upcoming EPS is projected at $1.03, signifying a 37.95% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $61.77 billion, up 8.47% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.02 per share and revenue of $253.16 billion, which would represent changes of +5.02% and +18.84%, respectively, from the prior year.
Any recent changes to analyst estimates for BP should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 4.02% higher. BP is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, BP currently has a Forward P/E ratio of 7.83. This represents a premium compared to its industry's average Forward P/E of 7.19.
Meanwhile, BP's PEG ratio is currently 2.7. 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 average PEG ratio for the Oil and Gas - Integrated - International industry stood at 1.73 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 93, positioning it in the top 37% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.