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Earnings Estimates Moving Higher for BP (BP): Time to Buy?
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BP p.l.c. (BP - Free Report) is the holding company of one of the world's largest petroleum and petrochemicals groups that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on BP’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that BP could be a solid choice for investors.
Current Quarter Estimates for BP
In the past 30 days, 1 estimate has gone higher for BP while 1 has gone lower in the same time period. However, the trend has been pretty favorable, with estimates increasing from 15 cents a share 30 days ago, to 22 today, a move of 46.7%.
Current Year Estimates for BP
Meanwhile, for BP’s current year figures also 1 estimate has moved higher in the past month, while 1 moved lower. However, the consensus estimate trend has seen a boost for this time frame, increasing from 99 cents per share 30 days ago to $1.07 per share today, an increase of 8.1%.
The stock has also started to move higher lately, adding 5.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
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Earnings Estimates Moving Higher for BP (BP): Time to Buy?
BP p.l.c. (BP - Free Report) is the holding company of one of the world's largest petroleum and petrochemicals groups that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.
These positive earnings estimate revisions suggest that analysts are becoming more optimistic on BP’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that BP could be a solid choice for investors.
Current Quarter Estimates for BP
In the past 30 days, 1 estimate has gone higher for BP while 1 has gone lower in the same time period. However, the trend has been pretty favorable, with estimates increasing from 15 cents a share 30 days ago, to 22 today, a move of 46.7%.
Current Year Estimates for BP
Meanwhile, for BP’s current year figures also 1 estimate has moved higher in the past month, while 1 moved lower. However, the consensus estimate trend has seen a boost for this time frame, increasing from 99 cents per share 30 days ago to $1.07 per share today, an increase of 8.1%.
BP PLC Price and Consensus
BP PLC Price and Consensus | BP PLC Quote
Bottom Line
The stock has also started to move higher lately, adding 5.8% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Confidential from Zacks
Beyond this Tale of the Tape, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>