Petrobras (PBR) Stock Dips While Market Gains: Key Facts

Petrobras (PBR) closed at $12.70 in the latest trading session, marking a -2.83% move from the prior day. This change lagged the S&P 500's 0.96% gain on the day. Elsewhere, the Dow saw an upswing of 0.89%, while the tech-heavy Nasdaq appreciated by 0.94%. Prior to today's trading, shares of the oil and gas company had gained 10.39% outpaced the Oils-Energy sector's gain of 6.67% and the S&P 500's gain of 0.5%.Investors will be eagerly watching for the performance of Petrobras in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.65, signifying a 38.30% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $20.36 billion, indicating a 13.24% decline compared to the corresponding quarter of the prior year. In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.79 per share and a revenue of $83.32 billion, indicating changes of -6.38% and -8.86%, respectively, from the former year. Investors should also note any recent changes 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 business operations and its ability to generate profits. Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.27% higher. Petrobras is currently sporting a Zacks Rank of #3 (Hold). In terms of valuation, Petrobras is presently being traded at a Forward P/E ratio of 4.69. This indicates a discount in contrast to its industry's Forward P/E of 11.11. The Oil and Gas - Integrated - International industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 202, positioning 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. Don’t Miss Out on These Stocks Before you make your next investing move, we have a free report that highlights the %%CTA_TEXT%% to buy.Our experts at Zacks Investment Research hand-selected these stocks for their eye-opening growth projections.Since 1988, our stock picks have more than doubled the S&P 500 with an average gain of +23.89% per year using the Zacks Rank stock-rating system.Register now to see the %%CTA_TEXT%%.7 best stocksWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Petroleo Brasileiro S.A.- Petrobras (PBR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks