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Pilgrim's Pride (PPC) Outperforms Broader Market: What You Need to Know
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Pilgrim's Pride (PPC - Free Report) closed at $40.71 in the latest trading session, marking a +1.22% move from the prior day. This change outpaced the S&P 500's 0.41% gain on the day. Meanwhile, the Dow gained 0.18%, and the Nasdaq, a tech-heavy index, added 0.31%.
The poultry producer's stock has dropped by 9.52% in the past month, falling short of the Consumer Staples sector's loss of 3.93% and the S&P 500's gain of 3.15%.
Investors will be eagerly watching for the performance of Pilgrim's Pride in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.46, showcasing a 10.43% downward movement from the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.42 per share and revenue of $0 million, indicating changes of 0% and 0%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Pilgrim's Pride. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Pilgrim's Pride holds a Zacks Rank of #3 (Hold).
Looking at valuation, Pilgrim's Pride is presently trading at a Forward P/E ratio of 7.42. This denotes a discount relative to the industry average Forward P/E of 11.76.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 199, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 PPC in the coming trading sessions, be sure to utilize Zacks.com.
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Pilgrim's Pride (PPC) Outperforms Broader Market: What You Need to Know
Pilgrim's Pride (PPC - Free Report) closed at $40.71 in the latest trading session, marking a +1.22% move from the prior day. This change outpaced the S&P 500's 0.41% gain on the day. Meanwhile, the Dow gained 0.18%, and the Nasdaq, a tech-heavy index, added 0.31%.
The poultry producer's stock has dropped by 9.52% in the past month, falling short of the Consumer Staples sector's loss of 3.93% and the S&P 500's gain of 3.15%.
Investors will be eagerly watching for the performance of Pilgrim's Pride in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.46, showcasing a 10.43% downward movement from the corresponding quarter of the prior year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.42 per share and revenue of $0 million, indicating changes of 0% and 0%, respectively, compared to the previous year.
Investors should also note any recent changes to analyst estimates for Pilgrim's Pride. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
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 past month, the Zacks Consensus EPS estimate remained stagnant. As of now, Pilgrim's Pride holds a Zacks Rank of #3 (Hold).
Looking at valuation, Pilgrim's Pride is presently trading at a Forward P/E ratio of 7.42. This denotes a discount relative to the industry average Forward P/E of 11.76.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 199, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained 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 PPC in the coming trading sessions, be sure to utilize Zacks.com.