Pilgrim's Pride (PPC) closed the latest trading day at $47.49, indicating a -0.33% change from the previous session's end. This move was narrower than the S&P 500's daily loss of 0.53%. Meanwhile, the Dow lost 0.26%, and the Nasdaq, a tech-heavy index, lost 0.83%.
Shares of the poultry producer have appreciated by 1.84% over the course of the past month, outperforming the Consumer Staples sector's gain of 1.44% and lagging the S&P 500's gain of 5.17%.
Market participants will be closely following the financial results of Pilgrim's Pride in its upcoming release. The company is forecasted to report an EPS of $1.63, showcasing a 2.4% downward movement from the corresponding quarter of the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pilgrim's Pride. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team 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, 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. Right now, Pilgrim's Pride possesses a Zacks Rank of #3 (Hold).
Looking at valuation, Pilgrim's Pride is presently trading at a Forward P/E ratio of 8.81. This indicates a discount in contrast to its industry's Forward P/E of 12.19.
The Food - Meat Products industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 163, positioning it in the bottom 34% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next 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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