In the latest trading session, Petrobras (PBR) closed at $12.67, marking a +0.16% move from the previous day. This change outpaced the S&P 500's 1.89% loss on the day. Elsewhere, the Dow lost 1.3%, while the tech-heavy Nasdaq lost 0.17%.
Prior to today's trading, shares of the oil and gas company had gained 17.24% over the past month. This has outpaced the Oils-Energy sector's gain of 14.35% and the S&P 500's loss of 1.79% in that time.
Petrobras will be looking to display strength as it nears its next earnings release. In that report, analysts expect Petrobras to post earnings of $0.78 per share. This would mark a year-over-year decline of 4.88%. Our most recent consensus estimate is calling for quarterly revenue of $24.44 billion, up 75.69% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Petrobras. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
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. Within the past 30 days, our consensus EPS projection has moved 0.57% higher. Petrobras is currently a Zacks Rank #3 (Hold).
Looking at its valuation, Petrobras is holding a Forward P/E ratio of 4.31. Its industry sports an average Forward P/E of 5.56, so we one might conclude that Petrobras is trading at a discount comparatively.
Investors should also note that PBR has a PEG ratio of 0.18 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Integrated - Emerging Markets industry currently had an average PEG ratio of 0.18 as of yesterday's close.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 104, putting it in the top 41% 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.
To follow PBR in the coming trading sessions, be sure to utilize Zacks.com.
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Petroleo Brasileiro S.A. Petrobras (PBR) : Free Stock Analysis Report
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