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BP (BP - Free Report) closed the latest trading day at $34.28, indicating a -1.66% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.37%. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, lost 0.19%.
Coming into today, shares of the oil and gas company had lost 0.74% in the past month. In that same time, the Oils-Energy sector lost 0.52%, while the S&P 500 gained 1.56%.
Analysts and investors alike will be keeping a close eye on the performance of BP in its upcoming earnings disclosure. The company's earnings report is set to go public on February 6, 2024. The company's earnings per share (EPS) are projected to be $1.12, reflecting a 29.56% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $59.6 billion, showing a 15.29% drop compared to the year-ago quarter.
It is also important to note the 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 10.56% decrease. BP currently has a Zacks Rank of #5 (Strong Sell).
Digging into valuation, BP currently has a Forward P/E ratio of 7.03. This valuation marks a premium compared to its industry's average Forward P/E of 6.75.
Investors should also note that BP has a PEG ratio of 1.08 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. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.84 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 157, this industry ranks in the bottom 38% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Here's Why BP (BP) Fell More Than Broader Market
BP (BP - Free Report) closed the latest trading day at $34.28, indicating a -1.66% change from the previous session's end. The stock's performance was behind the S&P 500's daily loss of 0.37%. Meanwhile, the Dow lost 0.62%, and the Nasdaq, a tech-heavy index, lost 0.19%.
Coming into today, shares of the oil and gas company had lost 0.74% in the past month. In that same time, the Oils-Energy sector lost 0.52%, while the S&P 500 gained 1.56%.
Analysts and investors alike will be keeping a close eye on the performance of BP in its upcoming earnings disclosure. The company's earnings report is set to go public on February 6, 2024. The company's earnings per share (EPS) are projected to be $1.12, reflecting a 29.56% decrease from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $59.6 billion, showing a 15.29% drop compared to the year-ago quarter.
It is also important to note the 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 10.56% decrease. BP currently has a Zacks Rank of #5 (Strong Sell).
Digging into valuation, BP currently has a Forward P/E ratio of 7.03. This valuation marks a premium compared to its industry's average Forward P/E of 6.75.
Investors should also note that BP has a PEG ratio of 1.08 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. The Oil and Gas - Integrated - International was holding an average PEG ratio of 0.84 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 157, this industry ranks in the bottom 38% of all industries, numbering over 250.
The Zacks Industry Rank is ordered 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.