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Kraft Heinz (KHC) Declines More Than Market: Some Information for Investors
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The most recent trading session ended with Kraft Heinz (KHC - Free Report) standing at $31.51, reflecting a -0.22% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily loss of 0.01%. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq depreciated by 0.25%.
Coming into today, shares of the maker of Oscar Mayer meats, Jell-O pudding and Velveeta cheese had lost 5.51% in the past month. In that same time, the Consumer Staples sector lost 5.17%, while the S&P 500 lost 1.6%.
Market participants will be closely following the financial results of Kraft Heinz in its upcoming release. The company plans to announce its earnings on November 1, 2023. The company's upcoming EPS is projected at $0.66, signifying a 4.76% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $6.71 billion, indicating a 3.14% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.89 per share and revenue of $27.06 billion, indicating changes of +3.96% and +2.17%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Kraft Heinz. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Kraft Heinz presently features a Zacks Rank of #2 (Buy).
With respect to valuation, Kraft Heinz is currently being traded at a Forward P/E ratio of 10.94. This denotes a discount relative to the industry's average Forward P/E of 14.89.
One should further note that KHC currently holds a PEG ratio of 2.35. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2.27 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 191, finds itself in the bottom 25% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow KHC in the coming trading sessions, be sure to utilize Zacks.com.
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Kraft Heinz (KHC) Declines More Than Market: Some Information for Investors
The most recent trading session ended with Kraft Heinz (KHC - Free Report) standing at $31.51, reflecting a -0.22% shift from the previouse trading day's closing. The stock's performance was behind the S&P 500's daily loss of 0.01%. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq depreciated by 0.25%.
Coming into today, shares of the maker of Oscar Mayer meats, Jell-O pudding and Velveeta cheese had lost 5.51% in the past month. In that same time, the Consumer Staples sector lost 5.17%, while the S&P 500 lost 1.6%.
Market participants will be closely following the financial results of Kraft Heinz in its upcoming release. The company plans to announce its earnings on November 1, 2023. The company's upcoming EPS is projected at $0.66, signifying a 4.76% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $6.71 billion, indicating a 3.14% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.89 per share and revenue of $27.06 billion, indicating changes of +3.96% and +2.17%, respectively, compared to the previous year.
It is also important to note the recent changes to analyst estimates for Kraft Heinz. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Kraft Heinz presently features a Zacks Rank of #2 (Buy).
With respect to valuation, Kraft Heinz is currently being traded at a Forward P/E ratio of 10.94. This denotes a discount relative to the industry's average Forward P/E of 14.89.
One should further note that KHC currently holds a PEG ratio of 2.35. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2.27 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 191, finds itself in the bottom 25% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
To follow KHC in the coming trading sessions, be sure to utilize Zacks.com.