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Petrobras (PBR) Stock Moves -0.34%: What You Should Know

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Petrobras (PBR - Free Report) ended the recent trading session at $17.64, demonstrating a -0.34% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 0.6%. Elsewhere, the Dow saw a downswing of 0.17%, while the tech-heavy Nasdaq depreciated by 0.92%.

Shares of the oil and gas company witnessed a gain of 13.03% over the previous month, beating the performance of the Oils-Energy sector with its gain of 5.59% and the S&P 500's gain of 3.56%.

Market participants will be closely following the financial results of Petrobras in its upcoming release. The company's earnings per share (EPS) are projected to be $1.12, reflecting a 10.4% decrease from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $26.72 billion, down 11.45% from the year-ago period.

Investors should also pay attention to any latest changes in analyst estimates for Petrobras. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 3.05% downward. Petrobras is currently sporting a Zacks Rank of #3 (Hold).

Looking at its valuation, Petrobras is holding a Forward P/E ratio of 5.18. This expresses a premium compared to the average Forward P/E of 4.91 of its industry.

The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 111, finds itself in the top 45% echelons of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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