Petrobras (PBR) Sees a More Significant Dip Than Broader Market: Some Facts to Know
Petrobras (PBR) closed the most recent trading day at $16.92, moving -0.53% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.32% for the day. At the same time, the Dow lost 0.71%, and the tech-heavy Nasdaq lost 0.2%.
The the stock of oil and gas company has risen by 2.84% in the past month, leading the Oils-Energy sector's loss of 2.12% and undershooting the S&P 500's gain of 4.59%.
Investors will be eagerly watching for the performance of Petrobras in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.99, showcasing a 20.8% downward movement from the corresponding quarter of the prior year. Meanwhile, our latest consensus estimate is calling for revenue of $26.54 billion, down 12.03% from the prior-year quarter.
Investors should also take note of any recent adjustments to analyst estimates for Petrobras. Recent revisions tend to reflect the latest near-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. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 5.02% lower. At present, Petrobras boasts a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Petrobras is holding a Forward P/E ratio of 4.86. This indicates a premium in contrast to its industry's Forward P/E of 4.74.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 242, finds itself in the bottom 4% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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 Report
