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Kraft Heinz (KHC) Rises But Trails Market: What Investors Should Know
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The latest trading session saw Kraft Heinz (KHC - Free Report) ending at $35.36, denoting a +0.4% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.77%. On the other hand, the Dow registered a gain of 0.47%, and the technology-centric Nasdaq increased by 0.87%.
Heading into today, shares of the processed food company with dual headquarters in Pittsburgh and Chicago had lost 1.04% over the past month, outpacing the Consumer Staples sector's loss of 1.9% and lagging the S&P 500's gain of 4.87% in that time.
The investment community will be paying close attention to the earnings performance of Kraft Heinz in its upcoming release. The company is slated to reveal its earnings on October 30, 2024. In that report, analysts expect Kraft Heinz to post earnings of $0.74 per share. This would mark year-over-year growth of 2.78%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.44 billion, down 2.05% from the year-ago period.
KHC's full-year Zacks Consensus Estimates are calling for earnings of $3.02 per share and revenue of $26.15 billion. These results would represent year-over-year changes of +1.34% and -1.82%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Kraft Heinz. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.11% lower. Currently, Kraft Heinz is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Kraft Heinz is presently trading at a Forward P/E ratio of 11.67. This indicates a discount in contrast to its industry's Forward P/E of 17.49.
Also, we should mention that KHC has a PEG ratio of 3.44. 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. The average PEG ratio for the Food - Miscellaneous industry stood at 2.83 at the close of the market yesterday.
The Food - Miscellaneous industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 94, this industry ranks in the top 38% 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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Kraft Heinz (KHC) Rises But Trails Market: What Investors Should Know
The latest trading session saw Kraft Heinz (KHC - Free Report) ending at $35.36, denoting a +0.4% adjustment from its last day's close. The stock's performance was behind the S&P 500's daily gain of 0.77%. On the other hand, the Dow registered a gain of 0.47%, and the technology-centric Nasdaq increased by 0.87%.
Heading into today, shares of the processed food company with dual headquarters in Pittsburgh and Chicago had lost 1.04% over the past month, outpacing the Consumer Staples sector's loss of 1.9% and lagging the S&P 500's gain of 4.87% in that time.
The investment community will be paying close attention to the earnings performance of Kraft Heinz in its upcoming release. The company is slated to reveal its earnings on October 30, 2024. In that report, analysts expect Kraft Heinz to post earnings of $0.74 per share. This would mark year-over-year growth of 2.78%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.44 billion, down 2.05% from the year-ago period.
KHC's full-year Zacks Consensus Estimates are calling for earnings of $3.02 per share and revenue of $26.15 billion. These results would represent year-over-year changes of +1.34% and -1.82%, respectively.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Kraft Heinz. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.11% lower. Currently, Kraft Heinz is carrying a Zacks Rank of #3 (Hold).
Looking at valuation, Kraft Heinz is presently trading at a Forward P/E ratio of 11.67. This indicates a discount in contrast to its industry's Forward P/E of 17.49.
Also, we should mention that KHC has a PEG ratio of 3.44. 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. The average PEG ratio for the Food - Miscellaneous industry stood at 2.83 at the close of the market yesterday.
The Food - Miscellaneous industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 94, this industry ranks in the top 38% 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.