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BP (BP) closed the most recent trading day at $28.38, moving +1.21% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.2%.
Heading into today, shares of the oil and gas company had gained 3.55% over the past month, lagging the Oils-Energy sector's gain of 4.08% and outpacing the S&P 500's gain of 2.11% in that time.
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 $0.53 per share. This would mark year-over-year growth of 126.77%. Our most recent consensus estimate is calling for quarterly revenue of $35.09 billion, up 12.49% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.45 per share and revenue of $199.35 billion, which would represent changes of +244.97% and +8.64%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for BP. These revisions help to show the ever-changing nature of near-term business trends. 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. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.31% higher. BP is currently a Zacks Rank #3 (Hold).
In terms of valuation, BP is currently trading at a Forward P/E ratio of 11.47. This represents a premium compared to its industry's average Forward P/E of 9.58.
We can also see that BP currently has a PEG ratio of 0.59. 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. The Oil and Gas - Integrated - International industry currently had an average PEG ratio of 0.71 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 86, 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.
To follow BP in the coming trading sessions, be sure to utilize Zacks.com.
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