Petrobras (PBR) ended the recent trading session at $13.45, demonstrating a -0.15% swing from the preceding day's closing price. The stock's change was more than the S&P 500's daily loss of 1.86%. Elsewhere, the Dow saw a downswing of 0.9%, while the tech-heavy Nasdaq depreciated by 2.76%.

Coming into today, shares of the oil and gas company had lost 9.9% in the past month. In that same time, the Oils-Energy sector lost 0.42%, while the S&P 500 gained 1.01%.

The upcoming earnings release of Petrobras will be of great interest to investors. The company's earnings report is expected on November 7, 2024. The company is expected to report EPS of $0.92, up 6.98% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $23.16 billion, indicating a 9.38% decrease compared to the same quarter of the previous year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $2.52 per share and revenue of $93.58 billion, which would represent changes of -39.71% and -8.62%, respectively, from the prior year.

Investors should also note any recent changes to analyst estimates for Petrobras. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research suggests that these changes in estimates have a direct relationship with upcoming 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been a 6.42% rise in the Zacks Consensus EPS estimate. Petrobras currently has a Zacks Rank of #3 (Hold).

Valuation is also important, so investors should note that Petrobras has a Forward P/E ratio of 5.36 right now. This signifies a premium in comparison to the average Forward P/E of 4.64 for its industry.

One should further note that PBR currently holds a PEG ratio of 0.2. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Oil and Gas - Integrated - Emerging Markets industry currently had an average PEG ratio of 0.2 as of yesterday's close.

The Oil and Gas - Integrated - Emerging Markets industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 98, this industry ranks in the top 39% of all industries, numbering over 250.