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BP (BP) Stock Drops Despite Market Gains: Important Facts to Note
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BP (BP - Free Report) closed at $32.11 in the latest trading session, marking a -0.71% move from the prior day. This move lagged the S&P 500's daily gain of 0.61%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.33%.
Coming into today, shares of the oil and gas company had gained 2.41% in the past month. In that same time, the Oils-Energy sector lost 2.26%, while the S&P 500 gained 5.36%.
The upcoming earnings release of BP will be of great interest to investors. On that day, BP is projected to report earnings of $0.81 per share, which would represent a year-over-year decline of 29.57%. Simultaneously, our latest consensus estimate expects the revenue to be $66.36 billion, showing a 22.86% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.76 per share and a revenue of $229.8 billion, signifying shifts of -21.34% and +7.87%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for BP. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.88% downward. BP is currently sporting a Zacks Rank of #5 (Strong Sell).
With respect to valuation, BP is currently being traded at a Forward P/E ratio of 8.6. This signifies a premium in comparison to the average Forward P/E of 8.26 for its industry.
We can additionally observe that BP currently boasts a PEG ratio of 4.3. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Integrated - International was holding an average PEG ratio of 1.59 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 233, putting it in the bottom 8% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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BP (BP) Stock Drops Despite Market Gains: Important Facts to Note
BP (BP - Free Report) closed at $32.11 in the latest trading session, marking a -0.71% move from the prior day. This move lagged the S&P 500's daily gain of 0.61%. Meanwhile, the Dow gained 0.97%, and the Nasdaq, a tech-heavy index, added 0.33%.
Coming into today, shares of the oil and gas company had gained 2.41% in the past month. In that same time, the Oils-Energy sector lost 2.26%, while the S&P 500 gained 5.36%.
The upcoming earnings release of BP will be of great interest to investors. On that day, BP is projected to report earnings of $0.81 per share, which would represent a year-over-year decline of 29.57%. Simultaneously, our latest consensus estimate expects the revenue to be $66.36 billion, showing a 22.86% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.76 per share and a revenue of $229.8 billion, signifying shifts of -21.34% and +7.87%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for BP. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.88% downward. BP is currently sporting a Zacks Rank of #5 (Strong Sell).
With respect to valuation, BP is currently being traded at a Forward P/E ratio of 8.6. This signifies a premium in comparison to the average Forward P/E of 8.26 for its industry.
We can additionally observe that BP currently boasts a PEG ratio of 4.3. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Oil and Gas - Integrated - International was holding an average PEG ratio of 1.59 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 233, putting it in the bottom 8% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.