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Petrobras (PBR) Gains As Market Dips: What You Should Know
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In the latest trading session, Petrobras (PBR - Free Report) closed at $12.71, marking a +0.95% move from the previous day. This move outpaced the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.5%, and the tech-heavy Nasdaq lost 0.5%.
Heading into today, shares of the oil and gas company had lost 15.22% over the past month, lagging the Oils-Energy sector's gain of 3.39% and the S&P 500's loss of 6.69% in that time.
Investors will be hoping for strength from Petrobras as it approaches its next earnings release. On that day, Petrobras is projected to report earnings of $0.94 per share, which would represent a year-over-year decline of 20.34%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $29.14 billion, up 38.89% from the year-ago period.
PBR's full-year Zacks Consensus Estimates are calling for earnings of $4.45 per share and revenue of $110.9 billion. These results would represent year-over-year changes of +86.97% and +32.08%, respectively.
Investors might also notice recent changes to analyst estimates for Petrobras. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Petrobras is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Petrobras currently has a Forward P/E ratio of 2.83. Its industry sports an average Forward P/E of 4.27, so we one might conclude that Petrobras is trading at a discount comparatively.
Also, we should mention that PBR has a PEG ratio of 1.16. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Integrated - Emerging Markets was holding an average PEG ratio of 1.16 at yesterday's closing price.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% 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.
View the Zacks #1 Rank List
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Petrobras (PBR) Gains As Market Dips: What You Should Know
In the latest trading session, Petrobras (PBR - Free Report) closed at $12.71, marking a +0.95% move from the previous day. This move outpaced the S&P 500's daily loss of 0.38%. At the same time, the Dow lost 0.5%, and the tech-heavy Nasdaq lost 0.5%.
Heading into today, shares of the oil and gas company had lost 15.22% over the past month, lagging the Oils-Energy sector's gain of 3.39% and the S&P 500's loss of 6.69% in that time.
Investors will be hoping for strength from Petrobras as it approaches its next earnings release. On that day, Petrobras is projected to report earnings of $0.94 per share, which would represent a year-over-year decline of 20.34%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $29.14 billion, up 38.89% from the year-ago period.
PBR's full-year Zacks Consensus Estimates are calling for earnings of $4.45 per share and revenue of $110.9 billion. These results would represent year-over-year changes of +86.97% and +32.08%, respectively.
Investors might also notice recent changes to analyst estimates for Petrobras. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. Petrobras is currently sporting a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Petrobras currently has a Forward P/E ratio of 2.83. Its industry sports an average Forward P/E of 4.27, so we one might conclude that Petrobras is trading at a discount comparatively.
Also, we should mention that PBR has a PEG ratio of 1.16. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Oil and Gas - Integrated - Emerging Markets was holding an average PEG ratio of 1.16 at yesterday's closing price.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 17, putting it in the top 7% 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.