In the latest close session, Pilgrim's Pride (PPC) was down 5.42% at $37.55. The stock trailed the S&P 500, which registered a daily gain of 0.62%. Elsewhere, the Dow saw an upswing of 0.99%, while the tech-heavy Nasdaq appreciated by 0.65%.
Shares of the poultry producer witnessed a gain of 3.39% over the previous month, beating the performance of the Consumer Staples sector with its loss of 1.6%, and the S&P 500's gain of 0.59%.
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 $0.91, signifying a 32.59% drop compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.45 per share and revenue of $0 million. These totals would mark changes of +0.55% and 0%, respectively, from last 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. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Currently, Pilgrim's Pride is carrying a Zacks Rank of #3 (Hold).
Looking at its valuation, Pilgrim's Pride is holding a Forward P/E ratio of 8.92. For comparison, its industry has an average Forward P/E of 11.87, 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 63, finds itself in the top 26% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
You can find more information on all of these metrics, and much 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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