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Petrobras (PBR) closed the latest trading day at $11.32, indicating a +0.18% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.44%. Meanwhile, the Dow experienced a rise of 0.7%, and the technology-dominated Nasdaq saw an increase of 0.27%.
Coming into today, shares of the oil and gas company had lost 1.4% in the past month. In that same time, the Oils-Energy sector gained 3.91%, while the S&P 500 gained 10.62%.
The upcoming earnings release of Petrobras will be of great interest to investors. The company is expected to report EPS of $0.92, up 22.67% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $21.69 billion, reflecting an 8.73% fall from the equivalent quarter last year.
PBR's full-year Zacks Consensus Estimates are calling for earnings of $2.79 per share and revenue of $83.88 billion. These results would represent year-over-year changes of -6.38% and -8.24%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Petrobras. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 11.02% downward. Right now, Petrobras possesses a Zacks Rank of #4 (Sell).
Digging into valuation, Petrobras currently has a Forward P/E ratio of 4.06. This denotes a discount relative to the industry's average Forward P/E of 9.03.
The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 170, placing it within the bottom 32% of over 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.