BP (BP) Stock Moves -0.04%: What You Should Know
BP (BP) closed at $24.38 in the latest trading session, marking a -0.04% move from the prior day. This change was narrower than the S&P 500's daily loss of 4.41%. Elsewhere, the Dow lost 4.44%, while the tech-heavy Nasdaq lost 4.41%.
Coming into today, shares of the oil and gas company had lost 23.59% in the past month. In that same time, the Oils-Energy sector lost 30.8%, while the S&P 500 lost 12.16%.
BP will be looking to display strength as it nears its next earnings release. In that report, analysts expect BP to post earnings of $0.39 per share. This would mark a year-over-year decline of 44.29%. Meanwhile, our latest consensus estimate is calling for revenue of $70.90 billion, up 5.19% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $0.75 per share and revenue of $220.89 billion, which would represent changes of -74.58% and -21.84%, respectively, from the prior year.
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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 74.62% lower within the past month. BP is holding a Zacks Rank of #5 (Strong Sell) right now.
In terms of valuation, BP is currently trading at a Forward P/E ratio of 32.67. This represents a premium compared to its industry's average Forward P/E of 21.77.
We can also see that BP currently has a PEG ratio of 21.78. 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 7.81 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 241, putting it in the bottom 6% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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