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BP (BP - Free Report) closed the most recent trading day at $39.44, moving -0.53% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 1.46% for the day. On the other hand, the Dow registered a loss of 1.24%, and the technology-centric Nasdaq decreased by 1.63%.
Coming into today, shares of the oil and gas company had gained 5.76% in the past month. In that same time, the Oils-Energy sector gained 8.14%, while the S&P 500 gained 1.6%.
Market participants will be closely following the financial results of BP in its upcoming release. The company plans to announce its earnings on May 7, 2024. The company's upcoming EPS is projected at $1.08, signifying a 34.94% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $57.93 billion, indicating a 1.72% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $4.93 per share and a revenue of $227.67 billion, demonstrating changes of +3.14% and +6.87%, respectively, from the preceding 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.72% decrease. Right now, BP possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that BP has a Forward P/E ratio of 8.04 right now. For comparison, its industry has an average Forward P/E of 7.65, which means BP is trading at a premium to the group.
We can also see that BP currently has a PEG ratio of 2.01. 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 industry currently had an average PEG ratio of 2.13 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 210, which puts it in the bottom 17% 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) Stock Moves -0.53%: What You Should Know
BP (BP - Free Report) closed the most recent trading day at $39.44, moving -0.53% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 1.46% for the day. On the other hand, the Dow registered a loss of 1.24%, and the technology-centric Nasdaq decreased by 1.63%.
Coming into today, shares of the oil and gas company had gained 5.76% in the past month. In that same time, the Oils-Energy sector gained 8.14%, while the S&P 500 gained 1.6%.
Market participants will be closely following the financial results of BP in its upcoming release. The company plans to announce its earnings on May 7, 2024. The company's upcoming EPS is projected at $1.08, signifying a 34.94% drop compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $57.93 billion, indicating a 1.72% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $4.93 per share and a revenue of $227.67 billion, demonstrating changes of +3.14% and +6.87%, respectively, from the preceding 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.72% decrease. Right now, BP possesses a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that BP has a Forward P/E ratio of 8.04 right now. For comparison, its industry has an average Forward P/E of 7.65, which means BP is trading at a premium to the group.
We can also see that BP currently has a PEG ratio of 2.01. 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 industry currently had an average PEG ratio of 2.13 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 210, which puts it in the bottom 17% 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.