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BP (BP) Flat As Market Sinks: What You Should Know
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BP (BP - Free Report) closed at $37.49 in the latest trading session, marking no change from the prior day. This move was narrower than the S&P 500's daily loss of 0.65%. Elsewhere, the Dow saw a downswing of 0.49%, while the tech-heavy Nasdaq depreciated by 0.96%.
Shares of the oil and gas company witnessed a gain of 5.28% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 6.72% and outperforming the S&P 500's gain of 3.27%.
Market participants will be closely following the financial results of BP in its upcoming release. On that day, BP is projected to report earnings of $1.13 per share, which would represent a year-over-year decline of 31.93%. At the same time, our most recent consensus estimate is projecting a revenue of $57.93 billion, reflecting a 1.72% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.96 per share and revenue of $227.67 billion, which would represent changes of +3.77% and +6.87%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for BP. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.4% decrease. Currently, BP is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, BP is currently exchanging hands at a Forward P/E ratio of 7.56. This represents a premium compared to its industry's average Forward P/E of 7.38.
We can additionally observe that BP currently boasts a PEG ratio of 1.89. 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 Oil and Gas - Integrated - International was holding an average PEG ratio of 1.73 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 29% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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BP (BP) Flat As Market Sinks: What You Should Know
BP (BP - Free Report) closed at $37.49 in the latest trading session, marking no change from the prior day. This move was narrower than the S&P 500's daily loss of 0.65%. Elsewhere, the Dow saw a downswing of 0.49%, while the tech-heavy Nasdaq depreciated by 0.96%.
Shares of the oil and gas company witnessed a gain of 5.28% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 6.72% and outperforming the S&P 500's gain of 3.27%.
Market participants will be closely following the financial results of BP in its upcoming release. On that day, BP is projected to report earnings of $1.13 per share, which would represent a year-over-year decline of 31.93%. At the same time, our most recent consensus estimate is projecting a revenue of $57.93 billion, reflecting a 1.72% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.96 per share and revenue of $227.67 billion, which would represent changes of +3.77% and +6.87%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for BP. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.4% decrease. Currently, BP is carrying a Zacks Rank of #3 (Hold).
From a valuation perspective, BP is currently exchanging hands at a Forward P/E ratio of 7.56. This represents a premium compared to its industry's average Forward P/E of 7.38.
We can additionally observe that BP currently boasts a PEG ratio of 1.89. 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 Oil and Gas - Integrated - International was holding an average PEG ratio of 1.73 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 179, which puts it in the bottom 29% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.