In the latest trading session, BP (BP) closed at $33.90, marking a +0.36% move from the previous day. This move outpaced the S&P 500's daily loss of 1.17%. At the same time, the Dow lost 1.02%, and the tech-heavy Nasdaq lost 2.45%.
Prior to today's trading, shares of the oil and gas company had lost 0.38% over the past month. This has was narrower than the Oils-Energy sector's loss of 6.76% and the S&P 500's loss of 5.25% in that time.
Investors will be hoping for strength from BP as it approaches its next earnings release. On that day, BP is projected to report earnings of $1.77 per share, which would represent year-over-year growth of 43.9%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $60.51 billion, up 15.83% from the year-ago period.
It is also important to note the 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.27% lower. BP is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that BP has a Forward P/E ratio of 5.14 right now. This represents a no noticeable deviation compared to its industry's average Forward P/E of 5.14.
We can also see that BP currently has a PEG ratio of 0.87. 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 0.63 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 154, putting it in the bottom 39% 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.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.