Brokerages Anticipate BP plc (NYSE:BP) to Post $0.79 Earnings Per Share

Wall Street analysts expect BP plc (NYSE:BP) to announce $0.79 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for BP’s earnings, with the lowest EPS estimate coming in at $0.71 and the highest estimate coming in at $0.89. BP reported earnings per share of $0.85 during the same quarter last year, which indicates a negative year-over-year growth rate of 7.1%. The company is scheduled to report its next earnings report on Tuesday, July 30th.

According to Zacks, analysts expect that BP will report full year earnings of $3.16 per share for the current year, with EPS estimates ranging from $2.89 to $3.56. For the next financial year, analysts expect that the firm will report earnings of $3.77 per share, with EPS estimates ranging from $3.02 to $5.90. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for BP.

BP (NYSE:BP) last announced its quarterly earnings results on Tuesday, April 30th. The oil and gas exploration company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.02. The business had revenue of $66.32 billion for the quarter, compared to analyst estimates of $64.85 billion. BP had a return on equity of 12.19% and a net margin of 3.26%. The company’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.13 earnings per share.

Several research analysts have issued reports on the company. ValuEngine lowered United Rentals from a “sell” rating to a “strong sell” rating in a report on Thursday. Royal Bank of Canada assumed coverage on Robert Half International in a report on Tuesday, April 16th. They issued a “sector perform” rating on the stock. Finally, Credit Suisse Group assumed coverage on LTC Properties in a report on Wednesday, July 10th. They issued an “underperform” rating and a $19.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. BP has a consensus rating of “Buy” and a consensus price target of $52.54.

Hedge funds have recently bought and sold shares of the company. Focused Wealth Management Inc bought a new position in shares of BP in the second quarter valued at approximately $25,000. Perkins Coie Trust Co lifted its holdings in shares of BP by 66.7% in the first quarter. Perkins Coie Trust Co now owns 630 shares of the oil and gas exploration company’s stock valued at $28,000 after purchasing an additional 252 shares in the last quarter. Marino Stram & Associates LLC lifted its holdings in shares of BP by 71.0% in the first quarter. Marino Stram & Associates LLC now owns 667 shares of the oil and gas exploration company’s stock valued at $29,000 after purchasing an additional 277 shares in the last quarter. Horan Capital Advisors LLC. bought a new position in shares of BP in the first quarter valued at approximately $35,000. Finally, Bray Capital Advisors lifted its holdings in shares of BP by 91.7% in the first quarter. Bray Capital Advisors now owns 813 shares of the oil and gas exploration company’s stock valued at $36,000 after purchasing an additional 389 shares in the last quarter. Institutional investors own 11.02% of the company’s stock.

NYSE:BP traded up $0.39 on Friday, hitting $39.23. The stock had a trading volume of 8,612,923 shares, compared to its average volume of 5,517,785. The company’s fifty day moving average price is $41.30. The company has a market cap of $131.15 billion, a P/E ratio of 10.32, a PEG ratio of 1.73 and a beta of 0.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.72 and a current ratio of 1.02. BP has a 52 week low of $36.28 and a 52 week high of $47.16.

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, May 10th were issued a $0.615 dividend. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 6.27%. BP’s dividend payout ratio is presently 64.21%.

BP Company Profile

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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Earnings History and Estimates for BP (NYSE:BP)

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