BP (BP) Advances While Market Declines: Some Information for Investors
BP (BP) closed at $31.58 in the latest trading session, marking a +1.35% move from the prior day. This change outpaced the S&P 500's 0.84% loss on the day. Elsewhere, the Dow lost 0.7%, while the tech-heavy Nasdaq lost 0.91%.
The stock of oil and gas company has risen by 4.7% in the past month, leading the Oils-Energy sector's loss of 0% and the S&P 500's gain of 1.44%.
Market participants will be closely following the financial results of BP in its upcoming release. It is anticipated that the company will report an EPS of $0.62, marking a 38% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $60.31 billion, reflecting a 24.99% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.33 per share and a revenue of $234.66 billion, indicating changes of -28.53% and +20.57%, respectively, from the former year.
Investors should also pay attention to any latest changes in 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 business performance and profit potential.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 9.25% lower. BP is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, BP is at present trading with a Forward P/E ratio of 13.36. This indicates a premium in contrast to its industry's Forward P/E of 10.93.
Investors should also note that BP has a PEG ratio of 2.03 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Oil and Gas - Integrated - International industry held an average PEG ratio of 1.86.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 203, this industry ranks in the bottom 18% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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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This article originally published on Zacks Investment Research (zacks.com).
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