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BP (BP) Gains As Market Dips: What You Should Know
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The most recent trading session ended with BP (BP - Free Report) standing at $31.32, reflecting a +1.26% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.02%. Elsewhere, the Dow gained 0.38%, while the tech-heavy Nasdaq added 0.04%.
The oil and gas company's shares have seen a decrease of 4.63% over the last month, surpassing the Oils-Energy sector's loss of 7.26% and falling behind the S&P 500's gain of 3.77%.
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 October 29, 2024. The company's upcoming EPS is projected at $0.79, signifying a 31.3% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $63.56 billion, up 17.68% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.77 per share and revenue of $224.55 billion, which would represent changes of -21.13% and +5.41%, respectively, from the prior year.
Any recent changes to analyst estimates for BP should also be noted by investors. 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. Within the past 30 days, our consensus EPS projection has moved 2.87% lower. Right now, BP possesses a Zacks Rank of #5 (Strong Sell).
In terms of valuation, BP is currently trading at a Forward P/E ratio of 8.21. For comparison, its industry has an average Forward P/E of 7.94, which means BP is trading at a premium to the group.
It's also important to note that BP currently trades at a PEG ratio of 2.05. 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 1.53 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 226, finds itself in the bottom 11% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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 follow all of these stock-moving metrics, and many more, on Zacks.com.
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BP (BP) Gains As Market Dips: What You Should Know
The most recent trading session ended with BP (BP - Free Report) standing at $31.32, reflecting a +1.26% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily loss of 0.02%. Elsewhere, the Dow gained 0.38%, while the tech-heavy Nasdaq added 0.04%.
The oil and gas company's shares have seen a decrease of 4.63% over the last month, surpassing the Oils-Energy sector's loss of 7.26% and falling behind the S&P 500's gain of 3.77%.
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 October 29, 2024. The company's upcoming EPS is projected at $0.79, signifying a 31.3% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $63.56 billion, up 17.68% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.77 per share and revenue of $224.55 billion, which would represent changes of -21.13% and +5.41%, respectively, from the prior year.
Any recent changes to analyst estimates for BP should also be noted by investors. 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 capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
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. Within the past 30 days, our consensus EPS projection has moved 2.87% lower. Right now, BP possesses a Zacks Rank of #5 (Strong Sell).
In terms of valuation, BP is currently trading at a Forward P/E ratio of 8.21. For comparison, its industry has an average Forward P/E of 7.94, which means BP is trading at a premium to the group.
It's also important to note that BP currently trades at a PEG ratio of 2.05. 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 1.53 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 226, finds itself in the bottom 11% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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 follow all of these stock-moving metrics, and many more, on Zacks.com.