Street Reports

Analysts Review On Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR)

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The shares of Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR)currently has mean rating of 3.1 while 1 analyst have recommended the shares as ‘BUY’ ,0 recommended as ‘OUTPERFORM’ and 5 recommended as ‘HOLD’.The rating score is on a scale of 1 to 5 where 1 stands for strong buy and 5 stands for sell

The mean price target for the shares of Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR)is at $5.21 while the highest price target suggested by the analysts is $8.40 and low price target is $2.70. The mean price target is calculated keeping in view the consensus of 8 brokerage firms.

The company’s mean estimate for sales for the current quarter ending Jun 16 is 19.94B by 2 analysts. The means estimate of sales for the year ending Dec 16 is 86.66B by 4 analysts.

The average estimate of EPS for the current fiscal quarter for Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR)stands at $0.14 while the EPS for the current year is fixed at $0.49 by 4.00 analysts

The next one year’s EPS estimate is set at 0.75 by 7.00 analysts while a year ago the analysts suggested the company’s EPS at $0.49. The analysts also projected the company’s long-term growth at -21.30% for the upcoming five years

In its latest quarter ended on 31 Mar 2016 , Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR)reported earnings of $-0.04. The posted earnings missed the analyst’s consensus by $-0.15 with the surprise factor of -136.40%. In the matter of earnings surprises, the term ‘Cockroach Effect’ is often implied. Cockroach Effect is a market theory that suggests that when a company reveals bad news to the public, there may be many more related negative events that have yet to be revealed. In the case of earnings surprises, if a company is suggesting a negative earnings surprise it means there are more to come.

Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) traded up +4.19% during trading on Friday, hitting $7.23 . The stock had a trading volume of 23.9 M shares. The firm has a 50 day moving average of $6.58 and a 200-day moving average of $5.19. The stock has a market cap of $47.03B. On Jun 29, 2015 the shares registered one year high at $9.59 and the one year low was seen on Jan 20, 2016.

On June 15, 2016 Petroleo Brasileiro SA Petrobras (ADR) (NYSE:PBR) announces that its wholly-owned subsidiary Petrobras Global Finance B.V. (“PGF”) is amending the terms of its previously announced offer to purchase for cash any and all of PGF’s 8.375% Global Notes due 2018 (the “2018 Notes”), and the related solicitation of consents from the holders of 2018 Notes to (i) eliminate certain covenants and related provisions in the indenture pursuant to which the 2018 Notes were issued (the “2018 Notes Indenture”) and the related guaranty by Petrobras (the “2018 Notes Guaranty”) and (ii) to the execution and delivery of a supplement to the 2018 Notes Indenture and an amendment to the 2018 Notes Guaranty in order to effect such amendments (the “Offer to Purchase and Consent Solicitation”).

The previously announced expiration date for the Offer to Purchase and Consent Solicitation has been extended to 11:59 p.m., New York City time, on June 23, 2016 (the “New Expiration Date”).

Holders of US$272,467,000, or 47.24% of the principal amount of 2018 Notes outstanding, tendered their Notes prior to 11:59 p.m., New York City time, on June 14, 2016, the original expiration date of the Offer to Purchase and Consent Solicitation.

The previously announced withdrawal date (May 31, 2016) for the Offer to Purchase and Consent Solicitation has now passed.  2018 Notes validly tendered pursuant to the Offer to Purchase and Consent Solicitation may no longer be withdrawn, and any 2018 Notes previously tendered and to be tendered prior to the New Expiration Date may not be withdrawn.

The Offer to Purchase and Consent Solicitation is being made pursuant to the offer to purchase and consent solicitation statement dated May 17, 2016 (as may be amended or supplemented from time to time, the “Statement”), and the related consent and letter of transmittal dated May 17, 2016 (as may be amended or supplemented from time to time, the “Consent and Letter of Transmittal”), which set forth in more detail the terms and conditions of the Offer to Purchase and Consent Solicitation.

PGF has engaged BB Securities Limited, J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated and Santander Investment Securities Inc. to act as dealer managers and solicitation agents (the “Dealer Managers”) in connection with the Offer to Purchase and Consent Solicitation.  Global Bondholder Services Corporation is acting as the depositary and information agent for the Offer to Purchase and Consent Solicitation.

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