Petrobras (PBR) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest trading session, Petrobras (PBR) closed at $15.82, marking a -0.5% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.88%. At the same time, the Dow added 0.54%, and the tech-heavy Nasdaq gained 1.35%.
Heading into today, shares of the oil and gas company had gained 2.71% over the past month, outpacing the Oils-Energy sector's loss of 3.78% and the S&P 500's gain of 0.64% in that time.
Market participants will be closely following the financial results of Petrobras in its upcoming release. The company's upcoming EPS is projected at $0.99, signifying a 20.8% drop compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $26.54 billion, down 12.03% from the prior-year quarter.
It's also important for investors to be aware of any recent modifications to analyst estimates for Petrobras. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.41% downward. Currently, Petrobras is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Petrobras is currently being traded at a Forward P/E ratio of 4.51. Its industry sports an average Forward P/E of 4.54, so one might conclude that Petrobras is trading at a discount comparatively.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 225, putting it in the bottom 11% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Petroleo Brasileiro S.A.- Petrobras (PBR) : Free Stock Analysis Report
