Yahoo Finance Why the Market Dipped But Petrobras (PBR) Gained Today
Petrobras (PBR) closed at $15.79 in the latest trading session, marking a +0.45% move from the prior day. The stock outpaced the S&P 500's daily loss of 1.2%. Elsewhere, the Dow saw a downswing of 0.65%, while the tech-heavy Nasdaq depreciated by 1.79%.
Shares of the oil and gas company have appreciated by 8.12% over the course of the past month, outperforming the Oils-Energy sector's gain of 6.6% and the S&P 500's loss of 0.85%.
Analysts and investors alike will be keeping a close eye on the performance of Petrobras in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.88, showcasing a 20.72% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $25.56 billion, down 4.51% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.51 per share and a revenue of $98.76 billion, indicating changes of -16.03% and -3.56%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Petrobras. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.85% increase. Petrobras is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Petrobras has a Forward P/E ratio of 4.48 right now. This valuation marks a premium compared to its industry's average Forward P/E of 4.41.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 104, positioning it in the top 42% 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
