$10.64 Billion in Sales Expected for PETROLEO BRASIL/ADR (NYSE:PBR) This Quarter

Equities research analysts predict that PETROLEO BRASIL/ADR (NYSE:PBR) will announce sales of $10.64 billion for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for PETROLEO BRASIL/ADR’s earnings. The highest sales estimate is $10.71 billion and the lowest is $10.58 billion. PETROLEO BRASIL/ADR reported sales of $18.50 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 42.5%. The business is scheduled to issue its next quarterly earnings report on Monday, August 3rd.

According to Zacks, analysts expect that PETROLEO BRASIL/ADR will report full-year sales of $51.68 billion for the current financial year, with estimates ranging from $47.60 billion to $55.51 billion. For the next fiscal year, analysts anticipate that the company will post sales of $58.87 billion, with estimates ranging from $53.54 billion to $61.55 billion. Zacks’ sales averages are an average based on a survey of analysts that cover PETROLEO BRASIL/ADR.

A number of equities analysts have issued reports on PBR shares. ValuEngine upgraded PETROLEO BRASIL/ADR from a “sell” rating to a “hold” rating in a report on Sunday, March 15th. TheStreet cut PETROLEO BRASIL/ADR from a “c” rating to a “d” rating in a report on Wednesday. Scotiabank upgraded PETROLEO BRASIL/ADR from a “sector perform” rating to an “outperform” rating in a report on Wednesday, April 29th. Bradesco Corretora upgraded PETROLEO BRASIL/ADR from a “neutral” rating to an “outperform” rating in a report on Friday, May 8th. Finally, Bank of America cut PETROLEO BRASIL/ADR from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $10.00 to $7.50 in a report on Thursday, May 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. PETROLEO BRASIL/ADR currently has a consensus rating of “Hold” and an average price target of $15.25.

Hedge funds have recently modified their holdings of the business. Harbor Investment Advisory LLC lifted its position in PETROLEO BRASIL/ADR by 60,262.5% during the first quarter. Harbor Investment Advisory LLC now owns 4,829 shares of the oil and gas exploration company’s stock worth $27,000 after acquiring an additional 4,821 shares during the last quarter. Verus Capital Partners LLC acquired a new stake in shares of PETROLEO BRASIL/ADR in the fourth quarter valued at approximately $36,000. Telemetry Investments L.L.C. acquired a new stake in shares of PETROLEO BRASIL/ADR in the first quarter valued at approximately $66,000. Fox Run Management L.L.C. acquired a new stake in shares of PETROLEO BRASIL/ADR in the first quarter valued at approximately $70,000. Finally, Samalin Investment Counsel LLC raised its position in shares of PETROLEO BRASIL/ADR by 22.0% in the first quarter. Samalin Investment Counsel LLC now owns 13,557 shares of the oil and gas exploration company’s stock valued at $74,000 after buying an additional 2,442 shares in the last quarter. Hedge funds and other institutional investors own 9.30% of the company’s stock.

Shares of PBR stock traded up $0.39 during trading hours on Tuesday, reaching $8.48. The company had a trading volume of 33,571,640 shares, compared to its average volume of 28,383,638. The firm has a market cap of $55.31 billion, a price-to-earnings ratio of 7.19 and a beta of 1.93. PETROLEO BRASIL/ADR has a 1-year low of $4.01 and a 1-year high of $16.95. The company has a debt-to-equity ratio of 1.72, a current ratio of 1.21 and a quick ratio of 0.98. The company has a 50 day moving average of $7.14 and a 200 day moving average of $10.94.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 22nd. Shareholders of record on Wednesday, April 29th will be given a dividend of $0.0931 per share. The ex-dividend date of this dividend is Tuesday, April 28th. This is an increase from PETROLEO BRASIL/ADR’s previous quarterly dividend of $0.08. This represents a $0.37 annualized dividend and a yield of 4.39%.

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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