Pilgrim's Pride (PPC) closed the most recent trading day at $42.82, moving -1.86% from the previous trading session. This change lagged the S&P 500's daily gain of 0.47%. On the other hand, the Dow registered a gain of 0.11%, and the technology-centric Nasdaq increased by 0.94%.
The poultry producer's shares have seen a decrease of 9.05% over the last month, not keeping up with the Consumer Staples sector's loss of 1.75% and the S&P 500's gain of 2.32%.
The investment community will be closely monitoring the performance of Pilgrim's Pride in its forthcoming earnings report. It is anticipated that the company will report an EPS of $1.46, marking a 10.43% fall compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $5.42 per share and a revenue of $0 million, demonstrating changes of 0% and 0%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pilgrim's Pride. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Pilgrim's Pride is holding a Zacks Rank of #3 (Hold) right now.
In the context of valuation, Pilgrim's Pride is at present trading with a Forward P/E ratio of 8.05. For comparison, its industry has an average Forward P/E of 12.13, which means Pilgrim's Pride is trading at a discount to the group.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 195, finds itself in the bottom 22% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Pilgrim's Pride Corporation (PPC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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