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BP (BP) Outperforms Broader Market: What You Need to Know
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The latest trading session saw BP (BP - Free Report) ending at $35.39, denoting a +0.8% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily gain of 0.25%. At the same time, the Dow added 0.15%, and the tech-heavy Nasdaq gained 0.03%.
Shares of the oil and gas company witnessed a loss of 5.77% over the previous month, beating the performance of the Oils-Energy sector with its loss of 5.99% and underperforming the S&P 500's gain of 3.34%.
Market participants will be closely following the financial results of BP in its upcoming release. On that day, BP is projected to report earnings of $1.22 per share, which would represent year-over-year growth of 37.08%. At the same time, our most recent consensus estimate is projecting a revenue of $63.26 billion, reflecting a 27.86% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.80 per share and revenue of $241.74 billion. These totals would mark changes of +0.42% and +13.48%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for BP. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.3% upward. BP currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, BP is currently exchanging hands at a Forward P/E ratio of 7.32. This signifies a premium in comparison to the average Forward P/E of 6.92 for its industry.
It is also worth noting that BP currently has a PEG ratio of 1.83. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Oil and Gas - Integrated - International industry currently had an average PEG ratio of 1.78 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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BP (BP) Outperforms Broader Market: What You Need to Know
The latest trading session saw BP (BP - Free Report) ending at $35.39, denoting a +0.8% adjustment from its last day's close. The stock's performance was ahead of the S&P 500's daily gain of 0.25%. At the same time, the Dow added 0.15%, and the tech-heavy Nasdaq gained 0.03%.
Shares of the oil and gas company witnessed a loss of 5.77% over the previous month, beating the performance of the Oils-Energy sector with its loss of 5.99% and underperforming the S&P 500's gain of 3.34%.
Market participants will be closely following the financial results of BP in its upcoming release. On that day, BP is projected to report earnings of $1.22 per share, which would represent year-over-year growth of 37.08%. At the same time, our most recent consensus estimate is projecting a revenue of $63.26 billion, reflecting a 27.86% rise from the equivalent quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.80 per share and revenue of $241.74 billion. These totals would mark changes of +0.42% and +13.48%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for BP. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.3% upward. BP currently has a Zacks Rank of #3 (Hold).
From a valuation perspective, BP is currently exchanging hands at a Forward P/E ratio of 7.32. This signifies a premium in comparison to the average Forward P/E of 6.92 for its industry.
It is also worth noting that BP currently has a PEG ratio of 1.83. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Oil and Gas - Integrated - International industry currently had an average PEG ratio of 1.78 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 82, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.