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BP (BP) Outperforms Broader Market: What You Need to Know
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BP (BP - Free Report) closed the latest trading day at $35.40, indicating a +0.8% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.68%, and the Nasdaq, a tech-heavy index, added 0.66%.
The oil and gas company's stock has dropped by 2.12% in the past month, falling short of the Oils-Energy sector's loss of 0.43% and the S&P 500's gain of 5.16%.
The upcoming earnings release of BP will be of great interest to investors. The company is predicted to post an EPS of $1.33, indicating a 16.35% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $65.59 billion, indicating a 6.77% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.05 per share and a revenue of $220.2 billion, signifying shifts of -42.22% and -11.53%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for BP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 1.87% fall in the Zacks Consensus EPS estimate. BP presently features a Zacks Rank of #3 (Hold).
Looking at valuation, BP is presently trading at a Forward P/E ratio of 6.96. For comparison, its industry has an average Forward P/E of 6.39, which means BP is trading at a premium to the group.
Also, we should mention that BP has a PEG ratio of 1.07. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Integrated - International industry had an average PEG ratio of 0.83 as trading concluded yesterday.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 92, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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BP (BP) Outperforms Broader Market: What You Need to Know
BP (BP - Free Report) closed the latest trading day at $35.40, indicating a +0.8% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily gain of 0.59%. Meanwhile, the Dow gained 0.68%, and the Nasdaq, a tech-heavy index, added 0.66%.
The oil and gas company's stock has dropped by 2.12% in the past month, falling short of the Oils-Energy sector's loss of 0.43% and the S&P 500's gain of 5.16%.
The upcoming earnings release of BP will be of great interest to investors. The company is predicted to post an EPS of $1.33, indicating a 16.35% decline compared to the equivalent quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $65.59 billion, indicating a 6.77% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.05 per share and a revenue of $220.2 billion, signifying shifts of -42.22% and -11.53%, respectively, from the last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for BP. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 1.87% fall in the Zacks Consensus EPS estimate. BP presently features a Zacks Rank of #3 (Hold).
Looking at valuation, BP is presently trading at a Forward P/E ratio of 6.96. For comparison, its industry has an average Forward P/E of 6.39, which means BP is trading at a premium to the group.
Also, we should mention that BP has a PEG ratio of 1.07. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Integrated - International industry had an average PEG ratio of 0.83 as trading concluded yesterday.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 92, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.