Petrobras (PBR) closed at $12.60 in the latest trading session, marking a -1.72% move from the prior day. The stock fell short of the S&P 500, which registered a gain of 0.14% for the day. At the same time, the Dow added 0.2%, and the tech-heavy Nasdaq gained 0.27%.
Shares of the oil and gas company witnessed a gain of 0.94% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 2.89%, and the S&P 500's gain of 3.97%.
The upcoming earnings release of Petrobras will be of great interest to investors. The company is expected to report EPS of $0.64, up 36.17% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $20.01 billion, down 14.73% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $2.73 per share and a revenue of $81.97 billion, demonstrating changes of -8.39% and -10.33%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Petrobras. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.09% lower. Right now, Petrobras possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Petrobras is currently exchanging hands at a Forward P/E ratio of 4.7. This valuation marks a discount compared to its industry average Forward P/E of 11.14.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 170, positioning it in the bottom 32% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Petroleo Brasileiro S.A.- Petrobras (PBR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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