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Pilgrim's Pride (PPC) Stock Sinks As Market Gains: Here's Why
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Pilgrim's Pride (PPC - Free Report) closed the most recent trading day at $38.52, moving -5.4% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.37% for the day. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq increased by 0.71%.
The poultry producer's stock has dropped by 8.06% in the past month, falling short of the Consumer Staples sector's loss of 3.28% and the S&P 500's gain of 4.26%.
The upcoming earnings release of Pilgrim's Pride will be of great interest to investors. 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.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.39 per share and a revenue of $0 million, signifying shifts of -0.55% and 0%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Pilgrim's Pride. 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 business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.55% lower. Pilgrim's Pride presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Pilgrim's Pride currently has a Forward P/E ratio of 7.55. For comparison, its industry has an average Forward P/E of 11.59, which means Pilgrim's Pride is trading at a discount to the group.
The Food - Meat Products industry is part of the Consumer Staples sector. At present, this industry carries a Zacks Industry Rank of 208, placing it within the bottom 16% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Pilgrim's Pride (PPC) Stock Sinks As Market Gains: Here's Why
Pilgrim's Pride (PPC - Free Report) closed the most recent trading day at $38.52, moving -5.4% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.37% for the day. On the other hand, the Dow registered a loss of 0.14%, and the technology-centric Nasdaq increased by 0.71%.
The poultry producer's stock has dropped by 8.06% in the past month, falling short of the Consumer Staples sector's loss of 3.28% and the S&P 500's gain of 4.26%.
The upcoming earnings release of Pilgrim's Pride will be of great interest to investors. 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.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $5.39 per share and a revenue of $0 million, signifying shifts of -0.55% and 0%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Pilgrim's Pride. 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 business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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, 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. Over the past month, the Zacks Consensus EPS estimate has moved 0.55% lower. Pilgrim's Pride presently features a Zacks Rank of #3 (Hold).
Digging into valuation, Pilgrim's Pride currently has a Forward P/E ratio of 7.55. For comparison, its industry has an average Forward P/E of 11.59, which means Pilgrim's Pride is trading at a discount to the group.
The Food - Meat Products industry is part of the Consumer Staples sector. At present, this industry carries a Zacks Industry Rank of 208, placing it within the bottom 16% of over 250 industries.
The Zacks Industry Rank gauges the strength of our 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.