Yahoo Finance BP (BP) Sees a More Significant Dip Than Broader Market: Some Facts to Know
In the latest market close, BP (BP) reached $37.92, with a -1.17% movement compared to the previous day. This move lagged the S&P 500's daily loss of 0.22%. Elsewhere, the Dow gained 0.06%, while the tech-heavy Nasdaq lost 0.52%.
Shares of the oil and gas company witnessed a gain of 1.27% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 3.38% and outperforming the S&P 500's loss of 1.66%.
Market participants will be closely following the financial results of BP in its upcoming release. The company plans to announce its earnings on May 7, 2024. The company's earnings per share (EPS) are projected to be $1.03, reflecting a 37.95% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $61.77 billion, up 8.47% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.89 per share and revenue of $253.16 billion, which would represent changes of +2.3% and +18.84%, respectively, from the prior year.
Investors should also take note of any recent adjustments to analyst estimates for BP. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.36% higher. BP is currently a Zacks Rank #3 (Hold).
Looking at its valuation, BP is holding a Forward P/E ratio of 7.84. This indicates a premium in contrast to its industry's Forward P/E of 7.16.
We can also see that BP currently has a PEG ratio of 1.96. 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. The Oil and Gas - Integrated - International was holding an average PEG ratio of 1.96 at yesterday's closing price.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 93, placing it within the top 37% of over 250 industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BP in the coming trading sessions, be sure to utilize Zacks.com.
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BP p.l.c. (BP) : Free Stock Analysis Report