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Here's Why Petrobras (PBR) Fell More Than Broader Market
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The most recent trading session ended with Petrobras (PBR - Free Report) standing at $14.54, reflecting a -1.22% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.65% loss on the day. Meanwhile, the Dow lost 0.49%, and the Nasdaq, a tech-heavy index, lost 0.96%.
Heading into today, shares of the oil and gas company had lost 15.4% over the past month, lagging the Oils-Energy sector's gain of 6.72% and the S&P 500's gain of 3.27% in that time.
The investment community will be closely monitoring the performance of Petrobras in its forthcoming earnings report. The company is forecasted to report an EPS of $0.78, showcasing a 29.73% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $24.87 billion, indicating a 7.09% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.38 per share and a revenue of $96.83 billion, representing changes of -19.14% and -5.45%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Petrobras. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.1% lower. Petrobras is currently a Zacks Rank #3 (Hold).
Looking at valuation, Petrobras is presently trading at a Forward P/E ratio of 4.36. This denotes a discount relative to the industry's average Forward P/E of 4.49.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 216, which puts it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
To follow PBR in the coming trading sessions, be sure to utilize Zacks.com.
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Here's Why Petrobras (PBR) Fell More Than Broader Market
The most recent trading session ended with Petrobras (PBR - Free Report) standing at $14.54, reflecting a -1.22% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.65% loss on the day. Meanwhile, the Dow lost 0.49%, and the Nasdaq, a tech-heavy index, lost 0.96%.
Heading into today, shares of the oil and gas company had lost 15.4% over the past month, lagging the Oils-Energy sector's gain of 6.72% and the S&P 500's gain of 3.27% in that time.
The investment community will be closely monitoring the performance of Petrobras in its forthcoming earnings report. The company is forecasted to report an EPS of $0.78, showcasing a 29.73% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $24.87 billion, indicating a 7.09% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.38 per share and a revenue of $96.83 billion, representing changes of -19.14% and -5.45%, respectively, from the prior year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Petrobras. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.1% lower. Petrobras is currently a Zacks Rank #3 (Hold).
Looking at valuation, Petrobras is presently trading at a Forward P/E ratio of 4.36. This denotes a discount relative to the industry's average Forward P/E of 4.49.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 216, which puts it in the bottom 15% of all 250+ industries.
The Zacks Industry Rank is ordered 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.
To follow PBR in the coming trading sessions, be sure to utilize Zacks.com.