We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Petrobras (PBR) Outperforms Broader Market: What You Need to Know
Read MoreHide Full Article
Petrobras (PBR - Free Report) closed the latest trading day at $14.53, indicating a +0.62% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 0.54%. At the same time, the Dow added 0.72%, and the tech-heavy Nasdaq gained 0.65%.
Heading into today, shares of the oil and gas company had lost 4.05% over the past month, lagging the Oils-Energy sector's loss of 3.91% and the S&P 500's gain of 4.86% in that time.
Market participants will be closely following the financial results of Petrobras in its upcoming release. The company plans to announce its earnings on November 7, 2024. On that day, Petrobras is projected to report earnings of $0.98 per share, which would represent year-over-year growth of 13.95%. Our most recent consensus estimate is calling for quarterly revenue of $23.25 billion, down 9% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.14 per share and revenue of $94.76 billion, indicating changes of -24.88% and -7.47%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Petrobras. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.26% lower. Petrobras currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Petrobras is currently trading at a Forward P/E ratio of 4.6. Its industry sports an average Forward P/E of 4.26, so one might conclude that Petrobras is trading at a premium comparatively.
One should further note that PBR currently holds a PEG ratio of 0.17. 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. By the end of yesterday's trading, the Oil and Gas - Integrated - Emerging Markets industry had an average PEG ratio of 0.17.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 214, positioning it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Petrobras (PBR) Outperforms Broader Market: What You Need to Know
Petrobras (PBR - Free Report) closed the latest trading day at $14.53, indicating a +0.62% change from the previous session's end. The stock's change was more than the S&P 500's daily gain of 0.54%. At the same time, the Dow added 0.72%, and the tech-heavy Nasdaq gained 0.65%.
Heading into today, shares of the oil and gas company had lost 4.05% over the past month, lagging the Oils-Energy sector's loss of 3.91% and the S&P 500's gain of 4.86% in that time.
Market participants will be closely following the financial results of Petrobras in its upcoming release. The company plans to announce its earnings on November 7, 2024. On that day, Petrobras is projected to report earnings of $0.98 per share, which would represent year-over-year growth of 13.95%. Our most recent consensus estimate is calling for quarterly revenue of $23.25 billion, down 9% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $3.14 per share and revenue of $94.76 billion, indicating changes of -24.88% and -7.47%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Petrobras. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.26% lower. Petrobras currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Petrobras is currently trading at a Forward P/E ratio of 4.6. Its industry sports an average Forward P/E of 4.26, so one might conclude that Petrobras is trading at a premium comparatively.
One should further note that PBR currently holds a PEG ratio of 0.17. 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. By the end of yesterday's trading, the Oil and Gas - Integrated - Emerging Markets industry had an average PEG ratio of 0.17.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 214, positioning it in the bottom 16% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.