Pilgrim’s Pride (PPC – Free Report) ended the recent trading session at $53.39, demonstrating a +0.28% swing from the preceding day’s closing price. The stock’s change was more than the S&P 500’s daily loss of 1.97%. At the same time, the Dow lost 1.69%, and the tech-heavy Nasdaq lost 2.7%.
Prior to today’s trading, shares of the poultry producer had lost 1.06% over the past month. This has lagged the Consumer Staples sector’s gain of 1.27% and was narrower than the S&P 500’s loss of 2.79% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Pilgrim’s Pride in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.27, showcasing a 64.94% upward movement from the corresponding quarter of the prior year.
It’s also important for investors to be aware of any recent modifications to analyst estimates for Pilgrim’s Pride. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts’ confidence in the company’s business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 3.02% higher. Pilgrim’s Pride is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note Pilgrim’s Pride’s current valuation metrics, including its Forward P/E ratio of 10.08. For comparison, its industry has an average Forward P/E of 13.21, 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 group has a Zacks Industry Rank of 15, putting it in the top 6% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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