Petrobras (PBR) closed the most recent trading day at $13.79, making no change from the previous trading session. The stock trailed the S&P 500, which registered a daily gain of 0.27%. Meanwhile, the Dow gained 0.65%, and the Nasdaq, a tech-heavy index, added 0.26%.

Shares of the oil and gas company have depreciated by 5.42% over the course of the past month, outperforming the Oils-Energy sector's loss of 9.27% and lagging the S&P 500's gain of 2%.

Investors will be eagerly watching for the performance of Petrobras in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 7, 2024. It is anticipated that the company will report an EPS of $0.92, marking a 6.98% rise compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $23.16 billion, showing a 9.38% drop compared to the year-ago quarter.

For the full year, the Zacks Consensus Estimates project earnings of $2.40 per share and a revenue of $94.03 billion, demonstrating changes of -42.58% and -8.18%, respectively, from the preceding year.

Investors should also note any recent changes to analyst estimates for Petrobras. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding 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.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 1.66% higher within the past month. Petrobras presently features a Zacks Rank of #3 (Hold).

From a valuation perspective, Petrobras is currently exchanging hands at a Forward P/E ratio of 5.74. This indicates a premium in contrast to its industry's Forward P/E of 4.9.

Meanwhile, PBR's PEG ratio is currently 0.21. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Oil and Gas - Integrated - Emerging Markets industry currently had an average PEG ratio of 0.21 as of yesterday's close.