$81.58 Billion in Sales Expected for BP plc (NYSE:BP) This Quarter

Wall Street analysts forecast that BP plc (NYSE:BP) will report $81.58 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for BP’s earnings, with the highest sales estimate coming in at $85.29 billion and the lowest estimate coming in at $77.87 billion. BP posted sales of $80.80 billion during the same quarter last year, which would indicate a positive year over year growth rate of 1%. The firm is expected to report its next quarterly earnings results before the market opens on Tuesday, October 29th.

According to Zacks, analysts expect that BP will report full-year sales of $293.85 billion for the current year, with estimates ranging from $281.58 billion to $315.50 billion. For the next financial year, analysts expect that the firm will report sales of $336.51 billion, with estimates ranging from $279.78 billion to $433.07 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for BP.

BP (NYSE:BP) last released its quarterly earnings data on Tuesday, July 30th. The oil and gas exploration company reported $0.83 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.05. The company had revenue of $73.75 billion during the quarter, compared to the consensus estimate of $79.79 billion. BP had a net margin of 2.97% and a return on equity of 12.12%.

BP has been the subject of a number of recent research reports. JPMorgan Chase & Co. reiterated a “buy” rating on shares of BP in a report on Friday, August 30th. Grupo Santander upgraded shares of BP from a “hold” rating to a “buy” rating in a report on Wednesday, September 11th. Jefferies Financial Group upgraded shares of BP from a “hold” rating to a “buy” rating and raised their price target for the stock from $46.30 to $48.60 in a report on Wednesday, July 31st. BMO Capital Markets began coverage on shares of BP in a report on Tuesday, August 20th. They set an “outperform” rating and a $53.00 price target for the company. Finally, Kepler Capital Markets restated a “buy” rating on shares of BP in a report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $45.72.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Focused Wealth Management Inc acquired a new stake in BP in the 2nd quarter valued at approximately $25,000. Rocky Mountain Advisers LLC acquired a new stake in BP in the 2nd quarter valued at approximately $36,000. Next Capital Management LLC acquired a new stake in BP in the 2nd quarter valued at approximately $38,000. Manchester Financial Inc. acquired a new stake in BP in the 2nd quarter valued at approximately $40,000. Finally, Meeder Asset Management Inc. acquired a new stake in BP in the 3rd quarter valued at approximately $40,000. Institutional investors and hedge funds own 10.72% of the company’s stock.

BP stock traded down $0.28 during mid-day trading on Monday, reaching $37.48. The company’s stock had a trading volume of 3,871,966 shares, compared to its average volume of 6,259,475. The stock has a market cap of $128.22 billion, a PE ratio of 9.86, a P/E/G ratio of 1.23 and a beta of 0.75. The company has a current ratio of 1.07, a quick ratio of 0.77 and a debt-to-equity ratio of 0.65. BP has a fifty-two week low of $35.73 and a fifty-two week high of $45.38. The company’s 50 day moving average is $37.68 and its two-hundred day moving average is $40.24.

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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Earnings History and Estimates for BP (NYSE:BP)

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