Yahoo Finance BP (BP) Registers a Bigger Fall Than the Market: Important Facts to Note
BP (BP) closed at $38.22 in the latest trading session, marking a -1.42% move from the prior day. The stock's change was less than the S&P 500's daily loss of 0.34%. At the same time, the Dow added 0.23%, and the tech-heavy Nasdaq lost 0.33%.
Shares of the oil and gas company witnessed a gain of 0.31% over the previous month, beating the performance of the Oils-Energy sector with its gain of 0.17% and the S&P 500's loss of 4.05%.
The investment community will be paying close attention to the earnings performance of BP in its upcoming release. The company is slated to reveal its earnings on May 7, 2024. The company is expected to report EPS of $1.03, down 37.95% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $61.77 billion, reflecting an 8.47% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.02 per share and revenue of $253.16 billion, which would represent changes of +5.02% and +18.84%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for BP. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.02% higher within the past month. BP presently features a Zacks Rank of #2 (Buy).
In terms of valuation, BP is presently being traded at a Forward P/E ratio of 7.72. For comparison, its industry has an average Forward P/E of 7.18, which means BP is trading at a premium to the group.
We can additionally observe that BP currently boasts a PEG ratio of 2.66. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Oil and Gas - Integrated - International industry stood at 1.7 at the close of the market yesterday.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 36, placing it within the top 15% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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BP p.l.c. (BP) : Free Stock Analysis Report
