In the latest trading session, BP (BP) closed at $41.86, marking a -0.76% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.95%. Elsewhere, the Dow lost 0.67%, while the tech-heavy Nasdaq lost 1.51%.
Coming into today, shares of the oil and gas company had gained 1.01% in the past month. In that same time, the Oils-Energy sector gained 3.19%, while the S&P 500 gained 4.32%.
Wall Street will be looking for positivity from BP as it approaches its nex t earnings report date. The company is expected to report EPS of $0.83, down 2.35% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $81.13 billion, up 5.5% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $3.27 per share and revenue of $311.73 billion. These totals would mark changes of -13.95% and +2.63%, respectively, from last year.
Any recent changes to analyst estimates for BP should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate has moved 4.29% lower within the past month. BP is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that BP has a Forward P/E ratio of 12.91 right now. For comparison, its industry has an average Forward P/E of 12.07, which means BP is trading at a premium to the group.
It is also worth noting that BP currently has a PEG ratio of 1.82. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. BP's industry had an average PEG ratio of 1.82 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 224, putting it in the bottom 13% 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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