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Kraft Heinz (KHC) Gains As Market Dips: What You Should Know
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Kraft Heinz (KHC - Free Report) closed the most recent trading day at $39.44, moving +0.66% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.58%. At the same time, the Dow lost 1.02%, and the tech-heavy Nasdaq lost 11.95%.
Prior to today's trading, shares of the maker of Oscar Mayer meats, Jell-O pudding and Velveeta cheese had gained 1.5% over the past month. This has lagged the Consumer Staples sector's gain of 5.05% and the S&P 500's gain of 4.27% in that time.
Wall Street will be looking for positivity from Kraft Heinz as it approaches its next earnings report date. This is expected to be May 3, 2023. The company is expected to report EPS of $0.60, unchanged from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.39 billion, up 5.64% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.71 per share and revenue of $27.03 billion. These totals would mark changes of -2.52% and +2.07%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Kraft Heinz. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.06% lower. Kraft Heinz is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Kraft Heinz currently has a Forward P/E ratio of 14.45. Its industry sports an average Forward P/E of 18.21, so we one might conclude that Kraft Heinz is trading at a discount comparatively.
Meanwhile, KHC's PEG ratio is currently 3.6. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Food - Miscellaneous industry currently had an average PEG ratio of 2.78 as of yesterday's close.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% of all 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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Kraft Heinz (KHC) Gains As Market Dips: What You Should Know
Kraft Heinz (KHC - Free Report) closed the most recent trading day at $39.44, moving +0.66% from the previous trading session. This move outpaced the S&P 500's daily loss of 1.58%. At the same time, the Dow lost 1.02%, and the tech-heavy Nasdaq lost 11.95%.
Prior to today's trading, shares of the maker of Oscar Mayer meats, Jell-O pudding and Velveeta cheese had gained 1.5% over the past month. This has lagged the Consumer Staples sector's gain of 5.05% and the S&P 500's gain of 4.27% in that time.
Wall Street will be looking for positivity from Kraft Heinz as it approaches its next earnings report date. This is expected to be May 3, 2023. The company is expected to report EPS of $0.60, unchanged from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $6.39 billion, up 5.64% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.71 per share and revenue of $27.03 billion. These totals would mark changes of -2.52% and +2.07%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Kraft Heinz. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 0.06% lower. Kraft Heinz is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Kraft Heinz currently has a Forward P/E ratio of 14.45. Its industry sports an average Forward P/E of 18.21, so we one might conclude that Kraft Heinz is trading at a discount comparatively.
Meanwhile, KHC's PEG ratio is currently 3.6. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Food - Miscellaneous industry currently had an average PEG ratio of 2.78 as of yesterday's close.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 80, putting it in the top 32% of all 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.