Petrobras (PBR) Gains As Market Dips: What You Should Know

Petrobras (PBR) closed at $17.27 in the latest trading session, marking a +0.47% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.1%. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 0.3%.

Shares of the oil and gas company witnessed a gain of 5.2% over the previous month, beating the performance of the Oils-Energy sector with its gain of 1.15% and underperforming the S&P 500's gain of 5.78%.

Analysts and investors alike will be keeping a close eye on the performance of Petrobras in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.01, showcasing a 19.2% downward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $26.34 billion, down 12.71% from the year-ago period.

Investors should also take note of any recent adjustments to analyst estimates for Petrobras. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.05% decrease. Currently, Petrobras is carrying a Zacks Rank of #3 (Hold).

Investors should also note Petrobras's current valuation metrics, including its Forward P/E ratio of 5.03. This indicates a premium in contrast to its industry's Forward P/E of 4.84.

The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 109, positioning it in the top 44% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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