In the latest trading session, Petrobras (PBR) closed at $13.11, marking a -2.53% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.5%. Elsewhere, the Dow lost 0.38%, while the tech-heavy Nasdaq lost 0.5%.
The stock of oil and gas company has risen by 10.25% in the past month, leading the Oils-Energy sector's gain of 3.33% and the S&P 500's gain of 2.74%.
Analysts and investors alike will be keeping a close eye on the performance of Petrobras in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.61, reflecting a 34.41% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $21.73 billion, down 7.01% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.86 per share and a revenue of $86.03 billion, indicating changes of -4.03% and -5.9%, respectively, from the former year.
Any recent changes to analyst estimates for Petrobras should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.38% decrease. At present, Petrobras boasts a Zacks Rank of #3 (Hold).
From a valuation perspective, Petrobras is currently exchanging hands at a Forward P/E ratio of 4.71. This indicates a discount in contrast to its industry's Forward P/E of 10.86.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 88, finds itself in the top 36% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the 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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