Brokerages forecast that PETROLEO BRASIL/ADR (NYSE:PBR) will post sales of $21.81 billion for the current quarter, Zacks reports. Two analysts have provided estimates for PETROLEO BRASIL/ADR’s earnings, with the highest sales estimate coming in at $21.89 billion and the lowest estimate coming in at $21.74 billion. PETROLEO BRASIL/ADR reported sales of $24.87 billion in the same quarter last year, which indicates a negative year over year growth rate of 12.3%. The business is scheduled to issue its next quarterly earnings report on Tuesday, November 5th.

On average, analysts expect that PETROLEO BRASIL/ADR will report full year sales of $81.55 billion for the current year, with estimates ranging from $77.61 billion to $84.99 billion. For the next financial year, analysts expect that the company will post sales of $96.33 billion, with estimates ranging from $73.52 billion to $123.12 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for PETROLEO BRASIL/ADR.

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

PBR has been the topic of a number of analyst reports. Citigroup reiterated a “buy” rating and set a $23.00 target price (up previously from $20.20) on shares of PETROLEO BRASIL/ADR in a report on Monday, July 8th. ValuEngine cut PETROLEO BRASIL/ADR from a “hold” rating to a “sell” rating in a report on Tuesday, August 20th. Bank of America initiated coverage on PETROLEO BRASIL/ADR in a report on Wednesday, July 3rd. They set a “buy” rating and a $21.00 target price on the stock. Finally, Goldman Sachs Group initiated coverage on PETROLEO BRASIL/ADR in a report on Thursday, July 11th. They set a “buy” rating on the stock. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $20.00.

NYSE PBR traded down $0.17 during mid-day trading on Friday, hitting $14.54. The stock had a trading volume of 8,697,200 shares, compared to its average volume of 16,586,963. The company has a 50 day simple moving average of $14.05 and a 200 day simple moving average of $15.17. The company has a market cap of $96.20 billion, a price-to-earnings ratio of 10.17 and a beta of 1.46. The company has a quick ratio of 1.06, a current ratio of 1.31 and a debt-to-equity ratio of 1.11. PETROLEO BRASIL/ADR has a 52-week low of $10.38 and a 52-week high of $17.90.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Wednesday, August 14th will be paid a $0.077 dividend. The ex-dividend date is Tuesday, August 13th. This represents a $0.31 dividend on an annualized basis and a yield of 2.12%. PETROLEO BRASIL/ADR’s payout ratio is 21.68%.

Several institutional investors and hedge funds have recently bought and sold shares of PBR. Advisory Services Network LLC grew its position in PETROLEO BRASIL/ADR by 190.4% during the first quarter. Advisory Services Network LLC now owns 4,951 shares of the oil and gas exploration company’s stock valued at $79,000 after buying an additional 3,246 shares during the period. Westwood Holdings Group Inc. bought a new position in PETROLEO BRASIL/ADR during the second quarter worth about $133,000. Corient Capital Partners LLC bought a new position in PETROLEO BRASIL/ADR during the second quarter worth about $159,000. OLD National Bancorp IN bought a new position in PETROLEO BRASIL/ADR during the first quarter worth about $167,000. Finally, Gould Asset Management LLC CA boosted its position in PETROLEO BRASIL/ADR by 17.1% during the first quarter. Gould Asset Management LLC CA now owns 12,250 shares of the oil and gas exploration company’s stock worth $195,000 after purchasing an additional 1,785 shares during the period. 7.66% of the stock is currently owned by institutional investors and hedge funds.

PETROLEO BRASIL/ADR Company Profile

PetrĂ³leo 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.

Recommended Story: Golden Cross

Get a free copy of the Zacks research report on PETROLEO BRASIL/ADR (PBR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for PETROLEO BRASIL/ADR Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PETROLEO BRASIL/ADR and related companies with MarketBeat.com's FREE daily email newsletter.