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Petrobras (PBR) Stock Moves -1.4%: What You Should Know
Petrobras (PBR - Free Report) closed the most recent trading day at $10.89, moving -1.4% from the previous trading session. This change was narrower than the S&P 500's 1.45% loss on the day. Elsewhere, the Dow lost 1.07%, while the tech-heavy Nasdaq lost 3.06%.
Prior to today's trading, shares of the oil and gas company had lost 0.09% over the past month. This has was narrower than the Oils-Energy sector's loss of 2.63% and the S&P 500's loss of 3.83% in that time.
Wall Street will be looking for positivity from Petrobras as it approaches its next earnings report date. Our most recent consensus estimate is calling for quarterly revenue of $27.39 billion, up 0.74% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $3.79 per share and revenue of $115.2 billion, which would represent changes of -28.36% and -7.45%, respectively, from the prior year.
Any recent changes to analyst estimates for Petrobras should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 5.96% higher within the past month. Petrobras is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Petrobras is currently trading at a Forward P/E ratio of 2.91. This valuation marks a discount compared to its industry's average Forward P/E of 3.9.
Also, we should mention that PBR has a PEG ratio of 1.55. 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 1.55 at yesterday's closing price.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 110, which puts it in the top 44% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.