In the latest trading session, BP (BP - Free Report) closed at $37.70, marking a -0.76% move from the previous day. This move was narrower than the S&P 500's daily loss of 1.23%. At the same time, the Dow lost 1.28%, and the tech-heavy Nasdaq lost 1.13%.
Coming into today, shares of the oil and gas company had gained 2.81% in the past month. In that same time, the Oils-Energy sector gained 4.64%, while the S&P 500 gained 1.95%.
BP will be looking to display strength as it nears its next earnings release. In that report, analysts expect BP to post earnings of $0.75 per share. This would mark a year-over-year decline of 34.78%. Our most recent consensus estimate is calling for quarterly revenue of $81.58 billion, up 0.96% from the year-ago period.
BP's full-year Zacks Consensus Estimates are calling for earnings of $3.06 per share and revenue of $293.85 billion. These results would represent year-over-year changes of -19.47% and -3.26%, respectively.
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. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 2.01% lower. BP is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, BP is currently trading at a Forward P/E ratio of 12.4. This represents a premium compared to its industry's average Forward P/E of 11.92.
We can also see that BP currently has a PEG ratio of 1.23. 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. The Oil and Gas - Integrated - International was holding an average PEG ratio of 1.5 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 244, which puts it in the bottom 5% 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 follow all of these stock-moving metrics, and many more, on Zacks.com.