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In the latest trading session, BP (BP - Free Report) closed at $28.37, marking a -0.63% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.94%. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 0.39%.
Heading into today, shares of the oil and gas company had gained 3.67% over the past month, lagging the Oils-Energy sector's gain of 5.65% and the S&P 500's gain of 5.72% in that time.
BP will be looking to display strength as it nears its next earnings release. In that report, analysts expect BP to post earnings of $1.19 per share. This would mark year-over-year growth of 3866.67%. Our most recent consensus estimate is calling for quarterly revenue of $41.77 billion, down 14.01% from the year-ago period.
It is also important to note the recent changes to analyst estimates for BP. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 2.79% higher within the past month. BP is currently a Zacks Rank #3 (Hold).
In terms of valuation, BP is currently trading at a Forward P/E ratio of 6.46. For comparison, its industry has an average Forward P/E of 5.84, which means BP is trading at a premium to the group.
Also, we should mention that BP has a PEG ratio of 0.48. 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. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.63 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow BP in the coming trading sessions, be sure to utilize Zacks.com.
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BP (BP) Stock Moves -0.63%: What You Should Know
In the latest trading session, BP (BP - Free Report) closed at $28.37, marking a -0.63% move from the previous day. This change was narrower than the S&P 500's daily loss of 1.94%. Meanwhile, the Dow lost 1.07%, and the Nasdaq, a tech-heavy index, lost 0.39%.
Heading into today, shares of the oil and gas company had gained 3.67% over the past month, lagging the Oils-Energy sector's gain of 5.65% and the S&P 500's gain of 5.72% in that time.
BP will be looking to display strength as it nears its next earnings release. In that report, analysts expect BP to post earnings of $1.19 per share. This would mark year-over-year growth of 3866.67%. Our most recent consensus estimate is calling for quarterly revenue of $41.77 billion, down 14.01% from the year-ago period.
It is also important to note the recent changes to analyst estimates for BP. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. The Zacks Consensus EPS estimate has moved 2.79% higher within the past month. BP is currently a Zacks Rank #3 (Hold).
In terms of valuation, BP is currently trading at a Forward P/E ratio of 6.46. For comparison, its industry has an average Forward P/E of 5.84, which means BP is trading at a premium to the group.
Also, we should mention that BP has a PEG ratio of 0.48. 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. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.63 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
To follow BP in the coming trading sessions, be sure to utilize Zacks.com.