In the latest market close, Petrobras (PBR) reached $13.88, with a -0.57% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.05%. On the other hand, the Dow registered a loss of 0.02%, and the technology-centric Nasdaq increased by 0.18%.

Shares of the oil and gas company witnessed a loss of 4.19% over the previous month, beating the performance of the Oils-Energy sector with its loss of 9.67% and underperforming the S&P 500's gain of 2.76%.

Market participants will be closely following the financial results of Petrobras in its upcoming release. The company plans to announce its earnings on November 7, 2024. In that report, analysts expect Petrobras to post earnings of $0.92 per share. This would mark year-over-year growth of 6.98%. Alongside, our most recent consensus estimate is anticipating revenue of $23.16 billion, indicating a 9.38% downward movement from the same quarter last year.

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 latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 past month, the Zacks Consensus EPS estimate has moved 9.34% lower. Currently, Petrobras is carrying a Zacks Rank of #4 (Sell).

From a valuation perspective, Petrobras is currently exchanging hands at a Forward P/E ratio of 5.81. This expresses a premium compared to the average Forward P/E of 4.89 of its industry.

It's also important to note that PBR currently trades at a PEG ratio of 0.22. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Oil and Gas - Integrated - Emerging Markets stocks are, on average, holding a PEG ratio of 0.22 based on yesterday's closing prices.