Petrobras (PBR) ended the recent trading session at $11.86, demonstrating a +1.02% change from the preceding day's closing price. The stock fell short of the S&P 500, which registered a gain of 1.23% for the day. Elsewhere, the Dow gained 0.72%, while the tech-heavy Nasdaq added 1.86%.
Prior to today's trading, shares of the oil and gas company had lost 10.25% lagged the Oils-Energy sector's loss of 1.86% and the S&P 500's gain of 2.45%.
The investment community will be closely monitoring the performance of Petrobras in its forthcoming earnings report. In that report, analysts expect Petrobras to post earnings of $0.61 per share. This would mark a year-over-year decline of 34.41%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $21.73 billion, down 7.01% from the year-ago period.
PBR's full-year Zacks Consensus Estimates are calling for earnings of $2.89 per share and revenue of $86.03 billion. These results would represent year-over-year changes of -3.02% and -5.9%, respectively.
It is also important to note the recent changes to analyst estimates for Petrobras. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.25% higher. Petrobras is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Petrobras is holding a Forward P/E ratio of 4.06. This indicates a discount in contrast to its industry's Forward P/E of 11.02.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 202, finds itself in the bottom 19% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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