Brokerages Anticipate PETROLEO BRASIL/ADR (NYSE:PBR) Will Post Earnings of $0.28 Per Share

Wall Street analysts expect that PETROLEO BRASIL/ADR (NYSE:PBR) will post $0.28 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for PETROLEO BRASIL/ADR’s earnings, with the lowest EPS estimate coming in at $0.21 and the highest estimate coming in at $0.34. PETROLEO BRASIL/ADR posted earnings of $0.26 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.7%. The firm is scheduled to report its next earnings results after the market closes on Thursday, October 24th.

According to Zacks, analysts expect that PETROLEO BRASIL/ADR will report full-year earnings of $1.35 per share for the current financial year, with EPS estimates ranging from $1.22 to $1.47. For the next fiscal year, analysts forecast that the business will report earnings of $1.05 per share, with EPS estimates ranging from $0.33 to $1.47. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research firms that that provide coverage for PETROLEO BRASIL/ADR.

PETROLEO BRASIL/ADR (NYSE:PBR) last announced its quarterly earnings results on Monday, August 5th. The oil and gas exploration company reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.38. The company had revenue of $18.50 billion during the quarter, compared to analysts’ expectations of $22.35 billion. PETROLEO BRASIL/ADR had a return on equity of 12.74% and a net margin of 9.12%.

A number of analysts have recently commented on the company. Citigroup reaffirmed a “buy” rating and issued a $23.00 price target (up from $20.20) on shares of PETROLEO BRASIL/ADR in a research note on Monday, July 8th. ValuEngine raised PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating in a research note on Monday. Goldman Sachs Group assumed coverage on PETROLEO BRASIL/ADR in a research note on Thursday, July 11th. They issued a “buy” rating for the company. Finally, Bank of America assumed coverage on PETROLEO BRASIL/ADR in a research note on Wednesday, July 3rd. They issued a “buy” rating and a $21.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the company’s stock. PETROLEO BRASIL/ADR currently has an average rating of “Buy” and an average price target of $20.20.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. RWC Asset Advisors US LLC increased its stake in PETROLEO BRASIL/ADR by 73.2% during the 2nd quarter. RWC Asset Advisors US LLC now owns 11,689,725 shares of the oil and gas exploration company’s stock worth $182,008,000 after purchasing an additional 4,941,933 shares in the last quarter. Investec Asset Management LTD bought a new stake in PETROLEO BRASIL/ADR during the 2nd quarter worth approximately $113,445,000. RWC Asset Management LLP increased its stake in PETROLEO BRASIL/ADR by 63.2% during the 2nd quarter. RWC Asset Management LLP now owns 2,924,832 shares of the oil and gas exploration company’s stock worth $45,540,000 after purchasing an additional 1,132,749 shares in the last quarter. Investec Asset Management North America Inc. bought a new stake in PETROLEO BRASIL/ADR during the 2nd quarter worth approximately $33,770,000. Finally, Marshall Wace North America L.P. increased its stake in PETROLEO BRASIL/ADR by 104.8% during the 2nd quarter. Marshall Wace North America L.P. now owns 1,742,823 shares of the oil and gas exploration company’s stock worth $27,136,000 after purchasing an additional 891,651 shares in the last quarter. 7.65% of the stock is owned by institutional investors and hedge funds.

Shares of PBR stock opened at $15.25 on Tuesday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.31 and a quick ratio of 1.06. The stock has a market cap of $101.61 billion, a PE ratio of 10.67 and a beta of 1.39. The stock has a 50-day moving average of $14.47 and a 200-day moving average of $14.85. PETROLEO BRASIL/ADR has a one year low of $11.89 and a one year high of $17.90.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Wednesday, August 14th were paid a dividend of $0.077 per share. The ex-dividend date was Tuesday, August 13th. This represents a $0.31 dividend on an annualized basis and a yield of 2.02%. PETROLEO BRASIL/ADR’s payout ratio is 21.68%.

About PETROLEO BRASIL/ADR

Petróleo Brasileiro SA – Petrobras operates in the oil, natural gas, and energy industries in Brazil and internationally. It engages in prospecting, drilling, refining, processing, trading, and transporting crude oil from producing onshore and offshore oil fields and shale or other rocks, as well as oil products, natural gas, and other liquid hydrocarbons.

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