BP (BP – Free Report) ended the recent trading session at $29.09, demonstrating a +0.45% swing from the preceding day’s closing price. The stock outpaced the S&P 500’s daily loss of 1.07%. Elsewhere, the Dow lost 0.97%, while the tech-heavy Nasdaq lost 1.19%.
The the stock of oil and gas company has fallen by 1.19% in the past month, leading the Oils-Energy sector’s loss of 8.22% and undershooting the S&P 500’s loss of 0.36%.
The investment community will be paying close attention to the earnings performance of BP in its upcoming release. It is anticipated that the company will report an EPS of $0.65, marking a 39.25% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $57.53 billion, showing a 9.4% escalation compared to the year-ago quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.51 per share and a revenue of $204.07 billion, indicating changes of -26.57% and -4.21%, respectively, from the former year.
It’s also important for investors to be aware of any recent modifications to analyst estimates for BP. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts’ confidence in the company’s business performance and profit potential.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we’ve formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 1.44% downward. As of now, BP holds a Zacks Rank of #4 (Sell).
In terms of valuation, BP is currently trading at a Forward P/E ratio of 8.24. This denotes a premium relative to the industry’s average Forward P/E of 7.76.
It is also worth noting that BP currently has a PEG ratio of 2.06. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company’s expected earnings growth trajectory. BP’s industry had an average PEG ratio of 2.06 as of yesterday’s close.
The Oil and Gas – Integrated – International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 139, placing it within the bottom 45% of over 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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