Yahoo Finance BP (BP) Gains As Market Dips: What You Should Know
BP (BP) closed the most recent trading day at $31.38, moving +0.32% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.2%. At the same time, the Dow lost 0.14%, and the tech-heavy Nasdaq lost 0.12%.
Heading into today, shares of the oil and gas company had gained 0.48% over the past month, outpacing the Oils-Energy sector's loss of 0.9% and the S&P 500's loss of 3.29% in that time.
BP will be looking to display strength as it nears its next earnings release. On that day, BP is projected to report earnings of $2.14 per share, which would represent year-over-year growth of 116.16%. Our most recent consensus estimate is calling for quarterly revenue of $59.46 billion, up 57.01% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $8.48 per share and revenue of $240.78 billion. These totals would mark changes of +121.99% and +46.64%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for BP. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 2.68% higher. BP is holding a Zacks Rank of #2 (Buy) right now.
Valuation is also important, so investors should note that BP has a Forward P/E ratio of 3.69 right now. For comparison, its industry has an average Forward P/E of 4.12, which means BP is trading at a discount to the group.
We can also see that BP currently has a PEG ratio of 0.64. 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. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.38 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 136, which puts it in the bottom 47% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
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