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Petrobras (PBR) Advances But Underperforms Market: Key Facts September 19, 2024
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Petrobras (PBR - Free Report) closed the latest trading day at $14.66, indicating a +0.55% change from the previous session's end. This change lagged the S&P 500's 1.7% gain on the day. Meanwhile, the Dow experienced a rise of 1.26%, and the technology-dominated Nasdaq saw an increase of 2.51%.
Prior to today's trading, shares of the oil and gas company had lost 1.88% over the past month. This has was narrower than the Oils-Energy sector's loss of 2.52% and lagged the S&P 500's gain of 1.27% 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. The company is expected to report EPS of $0.95, up 10.47% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $23.25 billion, down 9% from the prior-year quarter.
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.
Any recent changes to analyst estimates for Petrobras should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.26% lower. Petrobras presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Petrobras is currently being traded at a Forward P/E ratio of 4.65. This represents a premium compared to its industry's average Forward P/E of 4.28.
Investors should also note that PBR has a PEG ratio of 0.17 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Oil and Gas - Integrated - Emerging Markets stocks are, on average, holding a PEG ratio of 0.17 based on yesterday's closing prices.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 209, putting it in the bottom 18% of all 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Petrobras (PBR - Free Report) closed the latest trading day at $14.66, indicating a +0.55% change from the previous session's end. This change lagged the S&P 500's 1.7% gain on the day. Meanwhile, the Dow experienced a rise of 1.26%, and the technology-dominated Nasdaq saw an increase of 2.51%.
Prior to today's trading, shares of the oil and gas company had lost 1.88% over the past month. This has was narrower than the Oils-Energy sector's loss of 2.52% and lagged the S&P 500's gain of 1.27% 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. The company is expected to report EPS of $0.95, up 10.47% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $23.25 billion, down 9% from the prior-year quarter.
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.
Any recent changes to analyst estimates for Petrobras should also be noted by investors. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 1.26% lower. Petrobras presently features a Zacks Rank of #3 (Hold).
With respect to valuation, Petrobras is currently being traded at a Forward P/E ratio of 4.65. This represents a premium compared to its industry's average Forward P/E of 4.28.
Investors should also note that PBR has a PEG ratio of 0.17 right now. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. Oil and Gas - Integrated - Emerging Markets stocks are, on average, holding a PEG ratio of 0.17 based on yesterday's closing prices.
The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 209, putting it in the bottom 18% of all 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.