Zacks: Analysts Expect BP plc (BP) Will Announce Earnings of $0.86 Per Share

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Wall Street brokerages expect BP plc (NYSE:BP) to announce $0.86 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have made estimates for BP’s earnings. BP posted earnings of $0.57 per share during the same quarter last year, which indicates a positive year over year growth rate of 50.9%. The business is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, October 30th.

On average, analysts expect that BP will report full-year earnings of $3.40 per share for the current fiscal year, with EPS estimates ranging from $3.26 to $3.77. For the next year, analysts anticipate that the firm will post earnings of $3.70 per share, with EPS estimates ranging from $3.01 to $4.27. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow BP.

BP (NYSE:BP) last announced its quarterly earnings results on Tuesday, July 31st. The oil and gas exploration company reported $0.85 EPS for the quarter, meeting the consensus estimate of $0.85. The firm had revenue of $75.44 billion for the quarter, compared to analyst estimates of $82.25 billion. BP had a return on equity of 9.28% and a net margin of 2.55%. The business’s revenue for the quarter was up 33.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.21 earnings per share.

A number of equities research analysts recently weighed in on BP shares. Goldman Sachs Group reaffirmed a “buy” rating on shares of BP in a research report on Tuesday, May 29th. Zacks Investment Research downgraded BP from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. HSBC raised BP to a “buy” rating in a research report on Monday, July 30th. Royal Bank of Canada raised BP from an “outperform” rating to a “top pick” rating in a research report on Monday, July 9th. Finally, Santander raised BP from an “underperform” rating to a “hold” rating in a research report on Friday, August 31st. Six analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $47.07.

Shares of BP stock opened at $42.03 on Wednesday. The firm has a market cap of $140.38 billion, a PE ratio of 22.36, a PEG ratio of 3.10 and a beta of 0.91. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.80 and a current ratio of 1.10. BP has a 12 month low of $35.24 and a 12 month high of $47.83.

Hedge funds and other institutional investors have recently modified their holdings of the business. Perkins Capital Management Inc. boosted its holdings in BP by 70.9% in the second quarter. Perkins Capital Management Inc. now owns 14,700 shares of the oil and gas exploration company’s stock worth $671,000 after acquiring an additional 6,100 shares in the last quarter. ACG Wealth boosted its holdings in BP by 26.8% in the second quarter. ACG Wealth now owns 9,864 shares of the oil and gas exploration company’s stock worth $450,000 after acquiring an additional 2,086 shares in the last quarter. Park National Corp OH boosted its holdings in BP by 9.8% in the second quarter. Park National Corp OH now owns 92,050 shares of the oil and gas exploration company’s stock worth $4,203,000 after acquiring an additional 8,190 shares in the last quarter. Formidable Asset Management LLC boosted its holdings in BP by 8.8% in the second quarter. Formidable Asset Management LLC now owns 14,033 shares of the oil and gas exploration company’s stock worth $641,000 after acquiring an additional 1,138 shares in the last quarter. Finally, Huber Financial Advisors LLC acquired a new stake in BP in the second quarter worth about $204,000. 10.74% of the stock is owned by institutional investors and hedge funds.

About BP

BP p.l.c. engages in energy business worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. The Upstream segment is involved in the oil and natural gas exploration, field development, and production; midstream transportation, storage, and processing; and marketing and trading of liquefied natural gas (LNG), biogas, power and natural gas liquids (NGLs).

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