Yahoo Finance BP (BP) Gains As Market Dips: What You Should Know
BP (BP) closed at $35.71 in the latest trading session, marking a +1.16% move from the prior day. This move outpaced the S&P 500's daily loss of 0.38%. At the same time, the Dow added 0.27%, and the tech-heavy Nasdaq lost 4.19%.
Prior to today's trading, shares of the oil and gas company had lost 4.57% over the past month. This has lagged the Oils-Energy sector's gain of 0.6% and the S&P 500's gain of 3.78% in that time.
BP will be looking to display strength as it nears its next earnings release. In that report, analysts expect BP to post earnings of $1.45 per share. This would mark a year-over-year decline of 44.44%. Meanwhile, our latest consensus estimate is calling for revenue of $62.89 billion, down 9.52% from the prior-year quarter.
BP's full-year Zacks Consensus Estimates are calling for earnings of $6.31 per share and revenue of $248.27 billion. These results would represent year-over-year changes of -27.8% and -0.25%, respectively.
Investors might also notice recent changes to analyst estimates for BP. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 2.92% higher within the past month. BP is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note BP's current valuation metrics, including its Forward P/E ratio of 5.59. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 5.59.
Meanwhile, BP's PEG ratio is currently 0.86. 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. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 0.72 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 84, putting it in the top 34% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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BP p.l.c. (BP) : Free Stock Analysis Report
