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BP (BP) Gains As Market Dips: What You Should Know
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In the latest trading session, BP (BP - Free Report) closed at $40.20, marking a +0.85% move from the previous day. This move outpaced the S&P 500's daily loss of 0.41%. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, lost 4.08%.
Coming into today, shares of the oil and gas company had gained 4.21% in the past month. In that same time, the Oils-Energy sector gained 3.28%, while the S&P 500 gained 6.51%.
Investors will be hoping for strength from BP as it approaches its next earnings release, which is expected to be May 2, 2023. On that day, BP is projected to report earnings of $1.45 per share, which would represent a year-over-year decline of 24.48%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $57.58 billion, up 12.42% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.40 per share and revenue of $237.12 billion, which would represent changes of -26.77% and -4.73%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for BP. These recent revisions tend to reflect the evolving nature of short-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. 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. Within the past 30 days, our consensus EPS projection has moved 2.69% lower. BP is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, BP currently has a Forward P/E ratio of 6.23. For comparison, its industry has an average Forward P/E of 5.85, which means BP is trading at a premium to the group.
Investors should also note that BP has a PEG ratio of 0.92 right now. 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 0.75 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 176, putting it in the bottom 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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BP (BP) Gains As Market Dips: What You Should Know
In the latest trading session, BP (BP - Free Report) closed at $40.20, marking a +0.85% move from the previous day. This move outpaced the S&P 500's daily loss of 0.41%. Meanwhile, the Dow lost 0.11%, and the Nasdaq, a tech-heavy index, lost 4.08%.
Coming into today, shares of the oil and gas company had gained 4.21% in the past month. In that same time, the Oils-Energy sector gained 3.28%, while the S&P 500 gained 6.51%.
Investors will be hoping for strength from BP as it approaches its next earnings release, which is expected to be May 2, 2023. On that day, BP is projected to report earnings of $1.45 per share, which would represent a year-over-year decline of 24.48%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $57.58 billion, up 12.42% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $6.40 per share and revenue of $237.12 billion, which would represent changes of -26.77% and -4.73%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for BP. These recent revisions tend to reflect the evolving nature of short-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. 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. Within the past 30 days, our consensus EPS projection has moved 2.69% lower. BP is holding a Zacks Rank of #3 (Hold) right now.
Digging into valuation, BP currently has a Forward P/E ratio of 6.23. For comparison, its industry has an average Forward P/E of 5.85, which means BP is trading at a premium to the group.
Investors should also note that BP has a PEG ratio of 0.92 right now. 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 0.75 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 176, putting it in the bottom 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.