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PepsiCo (PEP - Free Report) closed at $166.56 in the latest trading session, marking a +0.58% move from the prior day. This change outpaced the S&P 500's 0.53% gain on the day. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 0.19%.
The food and beverage company's stock has dropped by 2.24% in the past month, falling short of the Consumer Staples sector's gain of 3.27% and the S&P 500's gain of 2.48%.
Market participants will be closely following the financial results of PepsiCo in its upcoming release. The company plans to announce its earnings on February 9, 2024. The company is forecasted to report an EPS of $1.72, showcasing a 2.99% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $28.26 billion, indicating a 0.95% increase compared to the same quarter of the previous year.
Investors might also notice recent changes to analyst estimates for PepsiCo. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, PepsiCo holds a Zacks Rank of #2 (Buy).
Investors should also note PepsiCo's current valuation metrics, including its Forward P/E ratio of 20.41. This signifies a premium in comparison to the average Forward P/E of 18.37 for its industry.
Also, we should mention that PEP has a PEG ratio of 2.48. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Beverages - Soft drinks industry currently had an average PEG ratio of 2.2 as of yesterday's close.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 68, this industry ranks in the top 27% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Why PepsiCo (PEP) Outpaced the Stock Market Today
PepsiCo (PEP - Free Report) closed at $166.56 in the latest trading session, marking a +0.58% move from the prior day. This change outpaced the S&P 500's 0.53% gain on the day. At the same time, the Dow added 0.64%, and the tech-heavy Nasdaq gained 0.19%.
The food and beverage company's stock has dropped by 2.24% in the past month, falling short of the Consumer Staples sector's gain of 3.27% and the S&P 500's gain of 2.48%.
Market participants will be closely following the financial results of PepsiCo in its upcoming release. The company plans to announce its earnings on February 9, 2024. The company is forecasted to report an EPS of $1.72, showcasing a 2.99% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $28.26 billion, indicating a 0.95% increase compared to the same quarter of the previous year.
Investors might also notice recent changes to analyst estimates for PepsiCo. 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.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, PepsiCo holds a Zacks Rank of #2 (Buy).
Investors should also note PepsiCo's current valuation metrics, including its Forward P/E ratio of 20.41. This signifies a premium in comparison to the average Forward P/E of 18.37 for its industry.
Also, we should mention that PEP has a PEG ratio of 2.48. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Beverages - Soft drinks industry currently had an average PEG ratio of 2.2 as of yesterday's close.
The Beverages - Soft drinks industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 68, this industry ranks in the top 27% of all industries, numbering over 250.
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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.