Petrobras (PBR) Falls More Steeply Than Broader Market: What Investors Need to Know
Petrobras (PBR) ended the recent trading session at $16.36, demonstrating a -0.97% swing from the preceding day's closing price. This change lagged the S&P 500's 0.85% loss on the day. Meanwhile, the Dow lost 0.75%, and the Nasdaq, a tech-heavy index, lost 0.96%.
Coming into today, shares of the oil and gas company had gained 7.76% in the past month. In that same time, the Oils-Energy sector gained 0.48%, while the S&P 500 lost 3.02%.
The investment community will be paying close attention to the earnings performance of Petrobras in its upcoming release. The company is expected to report EPS of $0.77, down 42.96% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $24.57 billion, indicating a 24.18% decrease compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.69 per share and a revenue of $99.27 billion, signifying shifts of -30.25% and -20.25%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Petrobras. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
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, the Zacks Consensus EPS estimate has moved 5.1% higher. Petrobras presently features a Zacks Rank of #1 (Strong Buy).
Looking at valuation, Petrobras is presently trading at a Forward P/E ratio of 4.47. This valuation marks a discount compared to its industry's average Forward P/E of 5.1.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 97, positioning it in the top 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 Report
