Petrobras Stock Outperforms Market as Earnings Drop Expected
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Petrobras (PBR) stock rose 0.55% on the day, outpacing the S&P 500's 0.08% gain and the Dow's 0.31% loss.
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Petrobras shares have appreciated 7.05% over the past month, beating the sector and S&P 500.
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Petrobras' upcoming earnings per share are projected to decrease 20.8% year-over-year to $0.99.
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Revenue is expected to decline 12.03% from last year to $26.54 billion.
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Petrobras currently has a Zacks Rank of #3 (Hold) and trades at a Forward P/E ratio of 4.61, at a discount to its industry.