$24.13 Billion in Sales Expected for PETROLEO BRASIL/ADR (NYSE:PBR) This Quarter

Analysts expect PETROLEO BRASIL/ADR (NYSE:PBR) to post $24.13 billion in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for PETROLEO BRASIL/ADR’s earnings. The lowest sales estimate is $22.52 billion and the highest is $25.74 billion. PETROLEO BRASIL/ADR posted sales of $23.41 billion during the same quarter last year, which would indicate a positive year over year growth rate of 3.1%. The business is expected to announce its next earnings results on Friday, August 2nd.

On average, analysts expect that PETROLEO BRASIL/ADR will report full-year sales of $96.47 billion for the current fiscal year, with estimates ranging from $92.96 billion to $98.56 billion. For the next year, analysts expect that the firm will post sales of $111.38 billion, with estimates ranging from $100.22 billion to $124.38 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow PETROLEO BRASIL/ADR.

PETROLEO BRASIL/ADR (NYSE:PBR) last issued its earnings results on Thursday, May 2nd. The oil and gas exploration company reported $0.16 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.06). The company had revenue of $21.23 billion during the quarter, compared to analyst estimates of $21.65 billion. PETROLEO BRASIL/ADR had a net margin of 6.50% and a return on equity of 10.35%.

Several research analysts have issued reports on the company. ValuEngine cut PETROLEO BRASIL/ADR from a “buy” rating to a “hold” rating in a report on Monday, April 1st. UBS Group raised shares of PETROLEO BRASIL/ADR from a “neutral” rating to a “buy” rating in a research note on Tuesday, February 12th. Credit Suisse Group upgraded shares of PETROLEO BRASIL/ADR from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $15.00 to $21.00 in a report on Monday, April 8th. HSBC upgraded shares of PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating in a report on Thursday, March 14th. Finally, Zacks Investment Research upgraded shares of PETROLEO BRASIL/ADR from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $18.50.

Shares of NYSE PBR traded down $0.04 during midday trading on Friday, hitting $15.48. 179,314 shares of the company’s stock were exchanged, compared to its average volume of 16,729,826. PETROLEO BRASIL/ADR has a twelve month low of $9.02 and a twelve month high of $17.90. The company has a market cap of $98.29 billion, a PE ratio of 10.77 and a beta of 1.50. The company has a current ratio of 1.15, a quick ratio of 0.86 and a debt-to-equity ratio of 1.30.

The company also recently declared a special dividend, which will be paid on Monday, July 15th. Shareholders of record on Thursday, May 23rd will be issued a dividend of $0.0509 per share. This is a boost from PETROLEO BRASIL/ADR’s previous special dividend of $0.03. The ex-dividend date is Wednesday, May 22nd. PETROLEO BRASIL/ADR’s dividend payout ratio is 10.49%.

A number of hedge funds have recently added to or reduced their stakes in PBR. Victory Capital Management Inc. bought a new stake in PETROLEO BRASIL/ADR during the fourth quarter valued at about $21,523,000. Stevens Capital Management LP acquired a new position in shares of PETROLEO BRASIL/ADR during the fourth quarter valued at about $326,000. Commerzbank Aktiengesellschaft FI raised its position in shares of PETROLEO BRASIL/ADR by 11.8% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 1,430,052 shares of the oil and gas exploration company’s stock valued at $18,605,000 after buying an additional 150,925 shares during the last quarter. BP PLC raised its position in shares of PETROLEO BRASIL/ADR by 64.2% during the fourth quarter. BP PLC now owns 809,792 shares of the oil and gas exploration company’s stock valued at $10,527,000 after buying an additional 316,519 shares during the last quarter. Finally, Glen Point Capital LLP raised its position in shares of PETROLEO BRASIL/ADR by 3,037.3% during the fourth quarter. Glen Point Capital LLP now owns 1,600,000 shares of the oil and gas exploration company’s stock valued at $20,816,000 after buying an additional 1,549,000 shares during the last quarter. Institutional investors own 7.24% of the company’s stock.

PETROLEO BRASIL/ADR Company Profile

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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