Pilgrim's Pride (PPC) closed at $41.19 in the latest trading session, marking a +1.23% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.44%. Meanwhile, the Dow experienced a rise of 0.14%, and the technology-dominated Nasdaq saw an increase of 0.7%.
The stock of poultry producer has fallen by 11.85% in the past month, lagging the Consumer Staples sector's loss of 3.59% and the S&P 500's gain of 4.03%.
Analysts and investors alike will be keeping a close eye on the performance of Pilgrim's Pride in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.46, signifying a 10.43% drop compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $5.42 per share and a revenue of $0 million, representing changes of 0% and 0%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Pilgrim's Pride. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Pilgrim's Pride is currently sporting a Zacks Rank of #2 (Buy).
In terms of valuation, Pilgrim's Pride is presently being traded at a Forward P/E ratio of 7.51. Its industry sports an average Forward P/E of 11.83, so one might conclude that Pilgrim's Pride is trading at a discount comparatively.
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 106, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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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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