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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 $11.79, marking a +1.99% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, added 0.03%.
Coming into today, shares of the oil and gas company had lost 14.43% in the past month. In that same time, the Oils-Energy sector lost 19.96%, while the S&P 500 lost 6.03%.
Investors will be hoping for strength from Petrobras as it approaches its next earnings release. In that report, analysts expect Petrobras to post earnings of $1.13 per share. This would mark a year-over-year decline of 4.24%. Our most recent consensus estimate is calling for quarterly revenue of $31.5 billion, up 50.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.70 per share and revenue of $113.81 billion, which would represent changes of +97.48% and +35.55%, respectively, from the prior year.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 5.46% higher. Petrobras is currently a Zacks Rank #2 (Buy).
In terms of valuation, Petrobras is currently trading at a Forward P/E ratio of 2.46. This represents a discount compared to its industry's average Forward P/E of 3.12.
Also, we should mention that PBR has a PEG ratio of 1.01. 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 1.01 as of yesterday's close.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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 $11.79, marking a +1.99% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.08%. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, added 0.03%.
Coming into today, shares of the oil and gas company had lost 14.43% in the past month. In that same time, the Oils-Energy sector lost 19.96%, while the S&P 500 lost 6.03%.
Investors will be hoping for strength from Petrobras as it approaches its next earnings release. In that report, analysts expect Petrobras to post earnings of $1.13 per share. This would mark a year-over-year decline of 4.24%. Our most recent consensus estimate is calling for quarterly revenue of $31.5 billion, up 50.12% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.70 per share and revenue of $113.81 billion, which would represent changes of +97.48% and +35.55%, respectively, from the prior year.
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. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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. Over the past month, the Zacks Consensus EPS estimate has moved 5.46% higher. Petrobras is currently a Zacks Rank #2 (Buy).
In terms of valuation, Petrobras is currently trading at a Forward P/E ratio of 2.46. This represents a discount compared to its industry's average Forward P/E of 3.12.
Also, we should mention that PBR has a PEG ratio of 1.01. 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 1.01 as of yesterday's close.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 43, which puts it in the top 18% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.