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Why the Market Dipped But Pilgrim's Pride (PPC) Gained Today
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Pilgrim's Pride (PPC - Free Report) closed the latest trading day at $35.77, indicating a +0.62% change from the previous session's end. The stock outpaced the S&P 500's daily loss of 0.88%. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq lost 2.05%.
Coming into today, shares of the poultry producer had gained 4.87% in the past month. In that same time, the Consumer Staples sector lost 3.55%, while the S&P 500 lost 2.57%.
The upcoming earnings release of Pilgrim's Pride will be of great interest to investors. The company's earnings report is expected on May 1, 2024. The company is predicted to post an EPS of $0.60, indicating a 650% growth compared to the equivalent quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pilgrim's Pride. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 1.52% higher within the past month. 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 11.81. This expresses a discount compared to the average Forward P/E of 21.65 of its industry.
We can additionally observe that PPC currently boasts a PEG ratio of 0.4. 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. As the market closed yesterday, the Food - Meat Products industry was having an average PEG ratio of 0.47.
The Food - Meat Products industry is part of the Consumer Staples sector. At present, this industry carries a Zacks Industry Rank of 6, placing it within the top 3% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Why the Market Dipped But Pilgrim's Pride (PPC) Gained Today
Pilgrim's Pride (PPC - Free Report) closed the latest trading day at $35.77, indicating a +0.62% change from the previous session's end. The stock outpaced the S&P 500's daily loss of 0.88%. At the same time, the Dow added 0.56%, and the tech-heavy Nasdaq lost 2.05%.
Coming into today, shares of the poultry producer had gained 4.87% in the past month. In that same time, the Consumer Staples sector lost 3.55%, while the S&P 500 lost 2.57%.
The upcoming earnings release of Pilgrim's Pride will be of great interest to investors. The company's earnings report is expected on May 1, 2024. The company is predicted to post an EPS of $0.60, indicating a 650% growth compared to the equivalent quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pilgrim's Pride. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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. The Zacks Consensus EPS estimate has moved 1.52% higher within the past month. 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 11.81. This expresses a discount compared to the average Forward P/E of 21.65 of its industry.
We can additionally observe that PPC currently boasts a PEG ratio of 0.4. 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. As the market closed yesterday, the Food - Meat Products industry was having an average PEG ratio of 0.47.
The Food - Meat Products industry is part of the Consumer Staples sector. At present, this industry carries a Zacks Industry Rank of 6, placing it within the top 3% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.