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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 at $35.85 in the latest trading session, marking a +0.59% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.1%. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 5.8%.
Heading into today, shares of the maker of Oscar Mayer meats, Jell-O pudding and Velveeta cheese had lost 3.34% over the past month, lagging the Consumer Staples sector's gain of 3.5% and the S&P 500's gain of 3.39% in that time.
Investors will be hoping for strength from Kraft Heinz as it approaches its next earnings release, which is expected to be August 2, 2023. In that report, analysts expect Kraft Heinz to post earnings of $0.75 per share. This would mark year-over-year growth of 7.14%. Meanwhile, our latest consensus estimate is calling for revenue of $6.83 billion, up 4.14% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.87 per share and revenue of $27.16 billion, which would represent changes of +3.24% and +2.57%, respectively, from the prior year.
Any recent changes to analyst estimates for Kraft Heinz should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. Within the past 30 days, our consensus EPS projection has moved 0.35% lower. Kraft Heinz is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Kraft Heinz has a Forward P/E ratio of 12.41 right now. For comparison, its industry has an average Forward P/E of 16.82, which means Kraft Heinz is trading at a discount to the group.
Also, we should mention that KHC has a PEG ratio of 2.78. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2.78 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Kraft Heinz (KHC) Gains As Market Dips: What You Should Know
Kraft Heinz (KHC - Free Report) closed at $35.85 in the latest trading session, marking a +0.59% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.1%. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 5.8%.
Heading into today, shares of the maker of Oscar Mayer meats, Jell-O pudding and Velveeta cheese had lost 3.34% over the past month, lagging the Consumer Staples sector's gain of 3.5% and the S&P 500's gain of 3.39% in that time.
Investors will be hoping for strength from Kraft Heinz as it approaches its next earnings release, which is expected to be August 2, 2023. In that report, analysts expect Kraft Heinz to post earnings of $0.75 per share. This would mark year-over-year growth of 7.14%. Meanwhile, our latest consensus estimate is calling for revenue of $6.83 billion, up 4.14% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $2.87 per share and revenue of $27.16 billion, which would represent changes of +3.24% and +2.57%, respectively, from the prior year.
Any recent changes to analyst estimates for Kraft Heinz should also be noted by investors. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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. Within the past 30 days, our consensus EPS projection has moved 0.35% lower. Kraft Heinz is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Kraft Heinz has a Forward P/E ratio of 12.41 right now. For comparison, its industry has an average Forward P/E of 16.82, which means Kraft Heinz is trading at a discount to the group.
Also, we should mention that KHC has a PEG ratio of 2.78. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2.78 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 77, putting it in the top 31% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.