Pilgrim's Pride (PPC) Stock Moves -1.70%: What You Should Know
Pilgrim's Pride (PPC) ended the recent trading session at $28.98, demonstrating a -1.7% change from the preceding day's closing price. Elsewhere, the Dow lost 0.36%, while the tech-heavy Nasdaq added 0.45%.
The stock of poultry producer has fallen by 7.27% in the past month, lagging the Consumer Staples sector's loss of 3.8% and the S&P 500's gain of 1.27%.
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 $0.75, showcasing a 50.66% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.6 billion, down 3.35% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.35 per share and revenue of $18.5 billion, indicating changes of -54.55% and +0.01%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Pilgrim's Pride. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, Pilgrim's Pride possesses a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Pilgrim's Pride is holding a Forward P/E ratio of 12.55. Its industry sports an average Forward P/E of 13.15, 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 industry, currently bearing a Zacks Industry Rank of 247, finds itself in the bottom 1% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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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This article originally published on Zacks Investment Research (zacks.com).
