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BP (BP) Beats Stock Market Upswing: What Investors Need to Know
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The most recent trading session ended with BP (BP - Free Report) standing at $38.62, reflecting a +0.63% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily gain of 0.52%. Meanwhile, the Dow experienced a rise of 0.4%, and the technology-dominated Nasdaq saw an increase of 0.58%.
Coming into today, shares of the oil and gas company had lost 0.6% in the past month. In that same time, the Oils-Energy sector lost 2.11%, while the S&P 500 lost 2.61%.
The investment community will be closely monitoring the performance of BP in its forthcoming earnings report. The company is scheduled to release its earnings on October 31, 2023. The company is expected to report EPS of $1.35, down 47.88% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $65.58 billion, indicating a 13.45% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.42 per share and revenue of $239.84 billion. These totals would mark changes of -37.99% and -3.64%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for BP. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.51% decrease. BP is currently a Zacks Rank #3 (Hold).
In terms of valuation, BP is presently being traded at a Forward P/E ratio of 7.09. This represents a premium compared to its industry's average Forward P/E of 7.
Also, we should mention that BP has a PEG ratio of 1.09. 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. By the end of yesterday's trading, the Oil and Gas - Integrated - International industry had an average PEG ratio of 0.84.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 191, finds itself in the bottom 25% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.
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BP (BP) Beats Stock Market Upswing: What Investors Need to Know
The most recent trading session ended with BP (BP - Free Report) standing at $38.62, reflecting a +0.63% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily gain of 0.52%. Meanwhile, the Dow experienced a rise of 0.4%, and the technology-dominated Nasdaq saw an increase of 0.58%.
Coming into today, shares of the oil and gas company had lost 0.6% in the past month. In that same time, the Oils-Energy sector lost 2.11%, while the S&P 500 lost 2.61%.
The investment community will be closely monitoring the performance of BP in its forthcoming earnings report. The company is scheduled to release its earnings on October 31, 2023. The company is expected to report EPS of $1.35, down 47.88% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $65.58 billion, indicating a 13.45% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.42 per share and revenue of $239.84 billion. These totals would mark changes of -37.99% and -3.64%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for BP. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.51% decrease. BP is currently a Zacks Rank #3 (Hold).
In terms of valuation, BP is presently being traded at a Forward P/E ratio of 7.09. This represents a premium compared to its industry's average Forward P/E of 7.
Also, we should mention that BP has a PEG ratio of 1.09. 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. By the end of yesterday's trading, the Oil and Gas - Integrated - International industry had an average PEG ratio of 0.84.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 191, finds itself in the bottom 25% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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.