BP (BP) Increases Yet Falls Behind Market: What Investors Need to Know
BP (BP) closed the latest trading day at $31.33, indicating a +0.03% change from the previous session's end. The stock fell short of the S&P 500, which registered a gain of 0.4% for the day. Elsewhere, the Dow saw an upswing of 0.09%, while the tech-heavy Nasdaq appreciated by 0.63%.
Shares of the oil and gas company have depreciated by 4.4% over the course of the past month, outperforming the Oils-Energy sector's loss of 7.82% and lagging the S&P 500's gain of 3.76%.
The upcoming earnings release of BP will be of great interest to investors. The company's earnings report is expected on October 29, 2024. The company is forecasted to report an EPS of $0.79, showcasing a 31.3% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $63.56 billion, reflecting a 17.68% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.73 per share and revenue of $224.55 billion, which would represent changes of -21.97% and +5.41%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for BP. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 3.77% lower. BP currently has a Zacks Rank of #5 (Strong Sell).
Digging into valuation, BP currently has a Forward P/E ratio of 8.39. This expresses a premium compared to the average Forward P/E of 8.16 of its industry.
It's also important to note that BP currently trades at a PEG ratio of 2.1. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Oil and Gas - Integrated - International industry held an average PEG ratio of 1.55.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 228, positioning it in the bottom 10% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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BP p.l.c. (BP) : Free Stock Analysis Report