Petroleo Brasileiro Petrobras SA (PBR) Releases Quarterly Earnings Results, Misses Expectations By $0.12 EPS
Petroleo Brasileiro Petrobras SA (NYSE:PBR) announced its earnings results on Tuesday. The company reported $0.36 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.48 by $0.12, AmericanBankingNews.com reports.
Shares of Petroleo Brasileiro Petrobras SA (NYSE:PBR) opened at 16.46 on Tuesday. Petroleo Brasileiro Petrobras SA has a 1-year low of $10.20 and a 1-year high of $17.97. The stock’s 50-day moving average is $15.82 and its 200-day moving average is $13.78. The company has a market cap of $107.4 billion and a price-to-earnings ratio of 11.26.
A number of analysts have recently weighed in on PBR shares. Analysts at Barclays raised their price target on shares of Petroleo Brasileiro Petrobras SA from $21.00 to $23.00 in a research note on Monday, July 28th. Finally, analysts at Morgan Stanley downgraded shares of Petroleo Brasileiro Petrobras SA from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, June 25th. They now have a $16.00 price target on the stock, down previously from $17.00. Four research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average target price of $16.75.
Petroleo Brasileiro SA Petrobras (NYSE:PBR) is a Brazil-based integrated oil and gas company.
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