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BP (BP) closed the most recent trading day at $29.51, moving +0.24% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.11%.
Heading into today, shares of the oil and gas company had gained 12.54% over the past month, lagging the Oils-Energy sector's gain of 15.65% and outpacing the S&P 500's gain of 4.61% in that time.
BP will be looking to display strength as it nears its next earnings release, which is expected to be November 2, 2021. On that day, BP is projected to report earnings of $0.93 per share, which would represent year-over-year growth of 3000%. Meanwhile, our latest consensus estimate is calling for revenue of $39.23 billion, down 11.24% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.62 per share and revenue of $155.15 billion, which would represent changes of +314.2% and -15.45%, 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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, 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. Within the past 30 days, our consensus EPS projection has moved 10.81% higher. BP is currently a Zacks Rank #1 (Strong Buy).
Looking at its valuation, BP is holding a Forward P/E ratio of 8.13. For comparison, its industry has an average Forward P/E of 8.61, which means BP is trading at a discount to the group.
Also, we should mention that BP has a PEG ratio of 0.51. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Integrated - International industry currently had an average PEG ratio of 0.61 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 5, putting it in the top 2% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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