Petrobras (PBR) Gains As Market Dips: What You Should Know
Petrobras (PBR) closed the most recent trading day at $16.06, moving +0.5% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.03%. Meanwhile, the Dow lost 0.36%, and the Nasdaq, a tech-heavy index, lost 0.04%.
Prior to today's trading, shares of the oil and gas company had gained 42.42% over the past month. This has outpaced the Oils-Energy sector's gain of 1.66% and the S&P 500's loss of 3.08% in that time.
PBR will be looking to display strength as it nears its next earnings release, which is expected to be November 13, 2018. On that day, PBR is projected to report earnings of $0.45 per share, which would represent year-over-year growth of 1400%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $24.93 billion, up 9.81% from the year-ago period.
PBR's full-year Zacks Consensus Estimates are calling for earnings of $1.70 per share and revenue of $97.38 billion. These results would represent year-over-year changes of +142.86% and +9.63%, respectively.
Any recent changes to analyst estimates for PBR should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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 past month, the Zacks Consensus EPS estimate has moved 3.67% higher. PBR is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, PBR currently has a Forward P/E ratio of 9.42. This valuation marks a discount compared to its industry's average Forward P/E of 9.64.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 2, which puts it in the top 1% 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 Report
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