Petroleo Brasileiro Petrobras SA Lowered to Neutral at Zacks (PBR)
Petroleo Brasileiro Petrobras SA (NYSE:PBR) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a report released on Wednesday. They currently have a $20.30 price objective on the stock. Zacks‘s price objective would indicate a potential upside of 25.46% from the stock’s previous close.
Shares of Petroleo Brasileiro Petrobras SA (NYSE:PBR) traded down 2.16% during mid-day trading on Wednesday, hitting $15.83. The stock had a trading volume of 44,977,496 shares. Petroleo Brasileiro Petrobras SA has a 52 week low of $10.20 and a 52 week high of $17.97. The stock’s 50-day moving average is $15.84 and its 200-day moving average is $13.83. The company has a market cap of $103.2 billion and a P/E ratio of 11.36.
Petroleo Brasileiro Petrobras SA (NYSE:PBR) last posted its quarterly earnings results on Tuesday, August 12th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by $0.12. Analysts expect that Petroleo Brasileiro Petrobras SA will post $1.97 EPS for the current fiscal year.
A number of other analysts have also recently weighed in on PBR. 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. Five research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of $17.46.
Petroleo Brasileiro SA Petrobras (NYSE:PBR) is a Brazil-based integrated oil and gas company.
To view Zacks’ full report, visit Zacks’ official website.
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