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Petrobras (PBR) Stock Moves -0.92%: What You Should Know

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The most recent trading session ended with Petrobras (PBR - Free Report) standing at $16.21, reflecting a -0.92% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 1.26%. At the same time, the Dow lost 0.86%, and the tech-heavy Nasdaq lost 1.54%.

The the stock of oil and gas company has risen by 9.21% in the past month, leading the Oils-Energy sector's gain of 0.54% and the S&P 500's loss of 3.67%.

The investment community will be paying close attention to the earnings performance of Petrobras in its upcoming release. The company's earnings per share (EPS) are projected to be $0.77, reflecting a 42.96% decrease from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $24.57 billion, down 24.18% from the prior-year quarter.

In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $3.69 per share and a revenue of $99.27 billion, indicating changes of -30.25% and -20.25%, respectively, from the former year.

It is also important to note the recent changes to analyst estimates for Petrobras. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 5.1% higher. Petrobras currently has a Zacks Rank of #1 (Strong Buy).

Looking at its valuation, Petrobras is holding a Forward P/E ratio of 4.43. This represents a discount compared to its industry's average Forward P/E of 5.06.

The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 103, placing it within the top 41% of over 250 industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.


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