The latest trading session saw Petrobras (PBR) ending at $11.29, denoting a -2% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.15%. At the same time, the Dow added 0.35%, and the tech-heavy Nasdaq lost 0.09%.
Prior to today's trading, shares of the oil and gas company had lost 20.33% over the past month. This has lagged the Oils-Energy sector's loss of 9.4% and the S&P 500's loss of 0.21% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Petrobras in its upcoming earnings disclosure. In that report, analysts expect Petrobras to post earnings of $0.86 per share. This would mark year-over-year growth of 14.67%. Our most recent consensus estimate is calling for quarterly revenue of $20.92 billion, down 12% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.94 per share and a revenue of $85.75 billion, representing changes of -1.34% and -6.2%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Petrobras. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 6.15% fall in the Zacks Consensus EPS estimate. Petrobras presently features a Zacks Rank of #4 (Sell).
Investors should also note Petrobras's current valuation metrics, including its Forward P/E ratio of 3.92. This valuation marks a discount compared to its industry's average Forward P/E of 9.03.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 171, which puts it in the bottom 32% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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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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