BP plc (BP) Expected to Post Earnings of $0.89 Per Share

Brokerages expect BP plc (NYSE:BP) to announce earnings per share (EPS) of $0.89 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for BP’s earnings. The lowest EPS estimate is $0.80 and the highest is $0.98. BP posted earnings per share of $0.85 in the same quarter last year, which would suggest a positive year-over-year growth rate of 4.7%. The company is scheduled to announce its next quarterly earnings report on Tuesday, July 30th.

According to Zacks, analysts expect that BP will report full-year earnings of $3.44 per share for the current financial year, with EPS estimates ranging from $3.22 to $3.64. For the next year, analysts forecast that the firm will post earnings of $4.07 per share, with EPS estimates ranging from $3.08 to $5.90. Zacks’ earnings per share averages are an average based on a survey of research analysts that follow BP.

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

A number of equities analysts have weighed in on BP shares. Royal Bank of Canada lowered BP from a “top pick” rating to an “outperform” rating and set a $44.65 price objective on the stock. in a research note on Tuesday, April 16th. Deutsche Bank reissued a “buy” rating on shares of BP in a research note on Thursday, March 7th. Finally, Zacks Investment Research raised BP from a “strong sell” rating to a “hold” rating in a research note on Friday, February 8th. Four analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. BP currently has a consensus rating of “Buy” and a consensus price target of $55.41.

Several institutional investors have recently made changes to their positions in BP. Family Legacy Inc. acquired a new position in BP during the 4th quarter worth about $161,000. Horan Capital Advisors LLC. acquired a new position in BP during the 1st quarter worth about $35,000. Massachusetts Financial Services Co. MA lifted its stake in BP by 51.4% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,595,212 shares of the oil and gas exploration company’s stock worth $98,411,000 after acquiring an additional 881,094 shares in the last quarter. Cooper Financial Group acquired a new position in BP during the 4th quarter worth about $252,000. Finally, Heritage Trust Co lifted its stake in BP by 62.0% during the 4th quarter. Heritage Trust Co now owns 1,458 shares of the oil and gas exploration company’s stock worth $56,000 after acquiring an additional 558 shares in the last quarter. 10.86% of the stock is currently owned by institutional investors and hedge funds.

Shares of BP traded down $0.08 during trading hours on Friday, hitting $42.22. 189,209 shares of the stock were exchanged, compared to its average volume of 5,345,733. 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 12-month low of $36.28 and a 12-month high of $47.83. The stock has a market capitalization of $141.14 billion, a price-to-earnings ratio of 11.09, a PEG ratio of 1.78 and a beta of 0.78.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, May 10th will be paid a $0.615 dividend. This represents a $2.46 annualized dividend and a dividend yield of 5.83%. The ex-dividend date of this dividend is Thursday, May 9th. BP’s dividend payout ratio (DPR) 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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