Pilgrim's Pride (PPC) ended the recent trading session at $45.76, demonstrating a +1.17% change from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.07%. Meanwhile, the Dow lost 0.37%, and the Nasdaq, a tech-heavy index, added 0.03%.
Prior to today's trading, shares of the poultry producer had lost 1.4% lagged the Consumer Staples sector's gain of 0.21% and the S&P 500's gain of 3.94%.
Market participants will be closely following the financial results of Pilgrim's Pride in its upcoming release. The company is expected to report EPS of $1.63, down 2.4% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $5.39 per share and revenue of $0 million. These totals would mark changes of -0.55% and 0%, respectively, from last 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.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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 past month, there's been no change in the Zacks Consensus EPS estimate. Pilgrim's Pride is currently sporting a Zacks Rank of #4 (Sell).
In the context of valuation, Pilgrim's Pride is at present trading with a Forward P/E ratio of 8.4. This indicates a discount in contrast to its industry's Forward P/E of 12.24.
The Food - Meat Products industry is part of the Consumer Staples sector. At present, this industry carries a Zacks Industry Rank of 201, placing it within the bottom 19% of over 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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