BP (BP - Free Report) closed the most recent trading day at $38.13, moving -1.63% from the previous trading session. This change lagged the S&P 500's 0.84% loss on the day. At the same time, the Dow lost 0.53%, and the tech-heavy Nasdaq lost 1.47%.
Prior to today's trading, shares of the oil and gas company had gained 6.78% over the past month. This has lagged the Oils-Energy sector's gain of 9.82% and outpaced the S&P 500's gain of 5.2% in that time.
Investors will be hoping for strength from BP as it approaches its next earnings release. The company is expected to report EPS of $0.75, down 34.78% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $81.58 billion, up 0.96% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.06 per share and revenue of $293.85 billion, which would represent changes of -19.47% and -3.26%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for BP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 2.1% lower within the past month. BP is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, BP is holding a Forward P/E ratio of 12.65. Its industry sports an average Forward P/E of 12.49, so we one might conclude that BP is trading at a premium comparatively.
Meanwhile, BP's PEG ratio is currently 1.26. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BP's industry had an average PEG ratio of 1.66 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 218, putting it in the bottom 15% 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.
To follow BP in the coming trading sessions, be sure to utilize Zacks.com.