In the latest trading session, Pilgrim's Pride (PPC) closed at $38.99, marking a -1.69% move from the previous day. This change lagged the S&P 500's daily loss of 0.74%. At the same time, the Dow lost 0.63%, and the tech-heavy Nasdaq lost 0.76%.
The poultry producer's shares have seen an increase of 1.95% over the last month, surpassing the Consumer Staples sector's loss of 1% and the S&P 500's gain of 0.79%.
Market participants will be closely following the financial results of Pilgrim's Pride in its upcoming release. On that day, Pilgrim's Pride is projected to report earnings of $0.91 per share, which would represent a year-over-year decline of 32.59%.
For the full year, the Zacks Consensus Estimates project earnings of $5.45 per share and a revenue of $0 million, demonstrating changes of +0.55% and 0%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Pilgrim's Pride. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Pilgrim's Pride is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Pilgrim's Pride is holding a Forward P/E ratio of 7.28. This valuation marks a discount compared to its industry average Forward P/E of 12.34.
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 55, putting it in the top 23% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Pilgrim's Pride Corporation (PPC): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
