Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) Posts Quarterly Earnings Results, Misses Estimates By $0.09 EPS

Petróleo Brasileiro S.A. – Petrobras (NYSE:PBRGet Free Report) announced its quarterly earnings data on Monday. The oil and gas exploration company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.09), Zacks reports. The company had revenue of $23.77 billion for the quarter, compared to analyst estimates of $24.63 billion. Petróleo Brasileiro S.A. – Petrobras had a return on equity of 34.44% and a net margin of 24.30%. During the same period in the prior year, the firm posted $1.11 earnings per share.

Petróleo Brasileiro S.A. – Petrobras Price Performance

NYSE:PBR traded down $1.12 during trading hours on Wednesday, reaching $15.57. 50,606,833 shares of the company’s stock were exchanged, compared to its average volume of 19,570,449. Petróleo Brasileiro S.A. – Petrobras has a 1-year low of $11.47 and a 1-year high of $17.91. The company has a quick ratio of 0.73, a current ratio of 0.96 and a debt-to-equity ratio of 0.65. The company has a 50-day moving average of $15.90 and a 200 day moving average of $16.01.

Petróleo Brasileiro S.A. – Petrobras Cuts Dividend

The firm also recently announced a Variable dividend, which will be paid on Thursday, June 27th. Stockholders of record on Monday, May 6th will be issued a $0.3406 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a dividend yield of 16.25%. Petróleo Brasileiro S.A. – Petrobras’s payout ratio is 21.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PBR shares. Jefferies Financial Group lowered shares of Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “hold” rating and reduced their price objective for the company from $21.20 to $17.70 in a report on Wednesday. HSBC raised Petróleo Brasileiro S.A. – Petrobras from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Monday, March 25th. Morgan Stanley downgraded Petróleo Brasileiro S.A. – Petrobras from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $20.00 to $18.00 in a report on Monday, March 11th. Bank of America cut Petróleo Brasileiro S.A. – Petrobras from a “buy” rating to a “neutral” rating and set a $16.00 target price for the company. in a research note on Friday, March 8th. Finally, UBS Group increased their price target on shares of Petróleo Brasileiro S.A. – Petrobras from $17.20 to $17.40 and gave the company a “buy” rating in a research note on Monday, March 25th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $16.33.

View Our Latest Analysis on PBR

About Petróleo Brasileiro S.A. – Petrobras

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Petróleo Brasileiro SA – Petrobras explores, produces, and sells oil and gas in Brazil and internationally. The company operates through Exploration and Production; Refining, Transportation and Marketing; and Gas and Power. It also 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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Earnings History for Petróleo Brasileiro S.A. - Petrobras (NYSE:PBR)

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