Yahoo Finance Petrobras (PBR) Stock Moves 0.65%: What You Should Know
In the latest trading session, Petrobras (PBR) closed at $17.12, marking a +0.65% move from the previous day. Meanwhile, the Dow gained 0.44%, and the Nasdaq, a tech-heavy index, lost 0.18%.
Heading into today, shares of the oil and gas company had gained 7.12% over the past month, outpacing the Oils-Energy sector's loss of 3.42% and the S&P 500's loss of 0.22% in that time.
The investment community will be paying close attention to the earnings performance of Petrobras in its upcoming release. The company is slated to reveal its earnings on May 13, 2024. On that day, Petrobras is projected to report earnings of $0.84 per share, which would represent a year-over-year decline of 24.32%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $24.63 billion, down 7.99% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.63 per share and a revenue of $101.58 billion, indicating changes of -13.16% and -0.81%, respectively, from the former year.
Investors should also pay attention to any latest changes in analyst estimates for Petrobras. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.28% upward. Petrobras is currently sporting a Zacks Rank of #2 (Buy).
With respect to valuation, Petrobras is currently being traded at a Forward P/E ratio of 4.69. This valuation marks a premium compared to its industry's average Forward P/E of 4.64.
Also, we should mention that PBR has a PEG ratio of 0.17. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. PBR's industry had an average PEG ratio of 0.17 as of yesterday's close.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 1, positioning it in the top 1% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
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
