BP (BP - Free Report) closed at $40.24 in the latest trading session, marking a -0.45% move from the prior day. This change lagged the S&P 500's daily gain of 1.07%. At the same time, the Dow added 0.65%, and the tech-heavy Nasdaq gained 1.71%.
Coming into today, shares of the oil and gas company had gained 5.23% in the past month. In that same time, the Oils-Energy sector gained 2.03%, while the S&P 500 lost 0.58%.
Investors will be hoping for strength from BP as it approaches its next earnings release, which is expected to be February 5, 2019. On that day, BP is projected to report earnings of $0.78 per share, which would represent year-over-year growth of 21.88%. Our most recent consensus estimate is calling for quarterly revenue of $60.67 billion, down 13.36% from the year-ago period.
Investors might also notice recent changes to analyst estimates for BP. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.4% lower. BP currently has a Zacks Rank of #3 (Hold).
Investors should also note BP's current valuation metrics, including its Forward P/E ratio of 11.27. Its industry sports an average Forward P/E of 9.95, so we one might conclude that BP is trading at a premium comparatively.
Meanwhile, BP's PEG ratio is currently 1.57. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. BP's industry had an average PEG ratio of 1.14 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 251, putting it in the bottom 2% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.