Posted 4/9/2024, 10:00:19 PM
Petrobras Stock Outperforms as Company Braces for Drop in Q4 Earnings and Revenue
- Petrobras (PBR) stock rose 1.53% on latest trading day, outperforming broader markets
- Company expected to post 29.73% decline in Q4 EPS to $0.78 and 7.09% revenue drop to $24.87 billion
- For full year, estimates call for 19.14% EPS decline to $3.38 and 5.45% revenue decline to $96.83 billion
- Petrobras trades at premium valuation to industry average based on forward P/E ratio
- Stock has Zacks Rank #3 (Hold); top 50% of Zacks-ranked industries outperform bottom 50% by 2-to-1 factor