In the latest trading session, BP (BP) closed at $37.84, marking a +0.91% move from the previous day. This move outpaced the S&P 500's daily gain of 0.03%. Meanwhile, the Dow gained 0.28%, and the Nasdaq, a tech-heavy index, lost 0.04%.
Heading into today, shares of the oil and gas company had gained 2.26% over the past month, outpacing the Oils-Energy sector's gain of 1.75% and the S&P 500's gain of 2.25% in that time.
Wall Street will be looking for positivity from BP as it approaches its next earnings report date. The company is expected to report EPS of $0.75, down 34.78% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $81.58 billion, up 0.96% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.06 per share and revenue of $293.85 billion, which would represent changes of -19.47% and -3.26%, respectively, from the prior year.
Investors might also notice 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.
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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 3.12% lower. BP is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note BP's current valuation metrics, including its Forward P/E ratio of 12.24. For comparison, its industry has an average Forward P/E of 11.93, which means BP is trading at a premium to the group.
We can also see that BP currently has a PEG ratio of 1.22. 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. Oil and Gas - Integrated - International stocks are, on average, holding a PEG ratio of 1.63 based on yesterday's closing prices.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 185, which puts it in the bottom 28% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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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