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Kraft Heinz (KHC) Suffers a Larger Drop Than the General Market: Key Insights
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Kraft Heinz (KHC - Free Report) ended the recent trading session at $35.49, demonstrating a -1.42% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.18%. On the other hand, the Dow registered a loss of 0.8%, and the technology-centric Nasdaq increased by 0.27%.
Shares of the processed food company with dual headquarters in Pittsburgh and Chicago witnessed a gain of 2.97% over the previous month, beating the performance of the Consumer Staples sector with its loss of 1.41% and underperforming the S&P 500's gain of 4.46%.
The investment community will be closely monitoring the performance of Kraft Heinz in its forthcoming earnings report. The company is scheduled to release its earnings on October 30, 2024. The company's upcoming EPS is projected at $0.74, signifying a 2.78% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $6.44 billion, indicating a 2.05% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.01 per share and a revenue of $26.15 billion, signifying shifts of +1.01% and -1.82%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Kraft Heinz. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.26% lower within the past month. Kraft Heinz is currently sporting a Zacks Rank of #4 (Sell).
With respect to valuation, Kraft Heinz is currently being traded at a Forward P/E ratio of 11.94. This denotes a discount relative to the industry's average Forward P/E of 18.3.
It is also worth noting that KHC currently has a PEG ratio of 3.52. 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. The Food - Miscellaneous industry currently had an average PEG ratio of 2.89 as of yesterday's close.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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) Suffers a Larger Drop Than the General Market: Key Insights
Kraft Heinz (KHC - Free Report) ended the recent trading session at $35.49, demonstrating a -1.42% swing from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.18%. On the other hand, the Dow registered a loss of 0.8%, and the technology-centric Nasdaq increased by 0.27%.
Shares of the processed food company with dual headquarters in Pittsburgh and Chicago witnessed a gain of 2.97% over the previous month, beating the performance of the Consumer Staples sector with its loss of 1.41% and underperforming the S&P 500's gain of 4.46%.
The investment community will be closely monitoring the performance of Kraft Heinz in its forthcoming earnings report. The company is scheduled to release its earnings on October 30, 2024. The company's upcoming EPS is projected at $0.74, signifying a 2.78% increase compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $6.44 billion, indicating a 2.05% decline compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.01 per share and a revenue of $26.15 billion, signifying shifts of +1.01% and -1.82%, respectively, from the last year.
It is also important to note the recent changes to analyst estimates for Kraft Heinz. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.26% lower within the past month. Kraft Heinz is currently sporting a Zacks Rank of #4 (Sell).
With respect to valuation, Kraft Heinz is currently being traded at a Forward P/E ratio of 11.94. This denotes a discount relative to the industry's average Forward P/E of 18.3.
It is also worth noting that KHC currently has a PEG ratio of 3.52. 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. The Food - Miscellaneous industry currently had an average PEG ratio of 2.89 as of yesterday's close.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 155, putting it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in 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.