BP (BP) Stock Sinks As Market Gains: What You Should Know
BP (BP) closed at $24.31 in the latest trading session, marking a -0.61% move from the prior day.
BP (BP) closed at $24.31 in the latest trading session, marking a -0.61% move from the prior day. This change lagged the S&P 500's daily gain of 0.03%.
Coming into today, shares of the oil and gas company had lost 4.79% in the past month. In that same time, the Oils-Energy sector gained 0.29%, while the S&P 500 gained 3.02%.
Wall Street will be looking for positivity from BP as it approaches its next earnings report date. In that report, analysts expect BP to post earnings of $0.86 per share. This would mark year-over-year growth of 2766.67%. Our most recent consensus estimate is calling for quarterly revenue of $38.54 billion, down 12.82% from the year-ago period.
BP's full-year Zacks Consensus Estimates are calling for earnings of $3.26 per share and revenue of $153.01 billion. These results would represent year-over-year changes of +292.9% and -16.62%, respectively.
Investors might also notice recent changes to analyst estimates for BP. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Within the past 30 days, our consensus EPS projection has moved 11.47% higher. BP is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note BP's current valuation metrics, including its Forward P/E ratio of 7.51. Its industry sports an average Forward P/E of 7.76, so we one might conclude that BP is trading at a discount comparatively.
Investors should also note that BP has a PEG ratio of 0.48 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Integrated - International industry currently had an average PEG ratio of 0.56 as of yesterday's close.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 37, putting it in the top 15% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
Make sure to utilize Zacks. Com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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