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BP (BP) Gains As Market Dips: What You Should Know
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BP (BP - Free Report) closed the latest trading day at $32.34, indicating a +1.13% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.21%. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq decreased by 0.05%.
The oil and gas company's stock has climbed by 2.21% in the past month, exceeding the Oils-Energy sector's loss of 4.39% and lagging the S&P 500's gain of 5.94%.
Analysts and investors alike will be keeping a close eye on the performance of BP in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.81, marking a 29.57% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $66.36 billion, indicating a 22.86% increase compared to the same quarter of the previous year.
BP's full-year Zacks Consensus Estimates are calling for earnings of $3.76 per share and revenue of $229.8 billion. These results would represent year-over-year changes of -21.34% and +7.87%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for BP. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 5.74% decrease. As of now, BP holds a Zacks Rank of #5 (Strong Sell).
From a valuation perspective, BP is currently exchanging hands at a Forward P/E ratio of 8.5. This signifies a premium in comparison to the average Forward P/E of 8.22 for its industry.
One should further note that BP currently holds a PEG ratio of 4.25. 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 had an average PEG ratio of 1.57 as trading concluded yesterday.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 236, positioning it in the bottom 7% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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BP (BP) Gains As Market Dips: What You Should Know
BP (BP - Free Report) closed the latest trading day at $32.34, indicating a +1.13% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.21%. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq decreased by 0.05%.
The oil and gas company's stock has climbed by 2.21% in the past month, exceeding the Oils-Energy sector's loss of 4.39% and lagging the S&P 500's gain of 5.94%.
Analysts and investors alike will be keeping a close eye on the performance of BP in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.81, marking a 29.57% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $66.36 billion, indicating a 22.86% increase compared to the same quarter of the previous year.
BP's full-year Zacks Consensus Estimates are calling for earnings of $3.76 per share and revenue of $229.8 billion. These results would represent year-over-year changes of -21.34% and +7.87%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for BP. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 5.74% decrease. As of now, BP holds a Zacks Rank of #5 (Strong Sell).
From a valuation perspective, BP is currently exchanging hands at a Forward P/E ratio of 8.5. This signifies a premium in comparison to the average Forward P/E of 8.22 for its industry.
One should further note that BP currently holds a PEG ratio of 4.25. 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 had an average PEG ratio of 1.57 as trading concluded yesterday.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 236, positioning it in the bottom 7% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.