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BP (BP) Advances But Underperforms Market: Key Facts
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BP (BP - Free Report) closed the latest trading day at $34.90, indicating a +0.29% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 1.02%. Meanwhile, the Dow experienced a rise of 1.09%, and the technology-dominated Nasdaq saw an increase of 1.18%.
Shares of the oil and gas company witnessed a loss of 2.44% over the previous month, beating the performance of the Oils-Energy sector with its loss of 11.98% and underperforming the S&P 500's gain of 4.44%.
Investors will be eagerly watching for the performance of BP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 30, 2024. The company is forecasted to report an EPS of $1.18, showcasing a 32.58% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $63.26 billion, indicating a 27.86% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $4.72 per share and a revenue of $241.74 billion, demonstrating changes of -1.26% and +13.48%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for BP. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.61% decrease. BP is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, BP is presently being traded at a Forward P/E ratio of 7.38. This indicates a discount in contrast to its industry's Forward P/E of 7.59.
Meanwhile, BP's PEG ratio is currently 1.84. 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. As of the close of trade yesterday, the Oil and Gas - Integrated - International industry held an average PEG ratio of 1.84.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 43, placing it within the top 18% of over 250 industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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BP (BP) Advances But Underperforms Market: Key Facts
BP (BP - Free Report) closed the latest trading day at $34.90, indicating a +0.29% change from the previous session's end. The stock trailed the S&P 500, which registered a daily gain of 1.02%. Meanwhile, the Dow experienced a rise of 1.09%, and the technology-dominated Nasdaq saw an increase of 1.18%.
Shares of the oil and gas company witnessed a loss of 2.44% over the previous month, beating the performance of the Oils-Energy sector with its loss of 11.98% and underperforming the S&P 500's gain of 4.44%.
Investors will be eagerly watching for the performance of BP in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 30, 2024. The company is forecasted to report an EPS of $1.18, showcasing a 32.58% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $63.26 billion, indicating a 27.86% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $4.72 per share and a revenue of $241.74 billion, demonstrating changes of -1.26% and +13.48%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for BP. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.61% decrease. BP is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, BP is presently being traded at a Forward P/E ratio of 7.38. This indicates a discount in contrast to its industry's Forward P/E of 7.59.
Meanwhile, BP's PEG ratio is currently 1.84. 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. As of the close of trade yesterday, the Oil and Gas - Integrated - International industry held an average PEG ratio of 1.84.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 43, placing it within the top 18% of over 250 industries.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.