BP (BP - Free Report) closed the most recent trading day at $40.95, moving -0.58% from the previous trading session. This change was narrower than the S&P 500's 3.24% loss on the day. At the same time, the Dow lost 3.1%, and the tech-heavy Nasdaq lost 3.8%.
Coming into today, shares of the oil and gas company had lost 0.99% in the past month. In that same time, the Oils-Energy sector lost 0.81%, while the S&P 500 gained 2.73%.
Wall Street will be looking for positivity from BP as it approaches its next earnings report date. This is expected to be February 5, 2019. On that day, BP is projected to report earnings of $0.81 per share, which would represent year-over-year growth of 26.56%.
BP's full-year Zacks Consensus Estimates are calling for earnings of $3.63 per share and revenue of $294.63 billion. These results would represent year-over-year changes of +93.09% and +20.46%, respectively.
Any recent changes to analyst estimates for BP should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 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 past month, the Zacks Consensus EPS estimate has moved 0.33% higher. BP currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, BP is holding a Forward P/E ratio of 11.34. For comparison, its industry has an average Forward P/E of 10.53, which means BP is trading at a premium to the group.
Meanwhile, BP's PEG ratio is currently 0.36. 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. BP's industry had an average PEG ratio of 1.13 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 58, which puts it in the top 23% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.