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Why Pilgrim's Pride (PPC) Dipped More Than Broader Market Today
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In the latest trading session, Pilgrim's Pride (PPC - Free Report) closed at $26.63, marking a -2.53% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.37%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, lost 1.33%.
Heading into today, shares of the poultry producer had lost 4.01% over the past month, lagging the Consumer Staples sector's loss of 1.01% and the S&P 500's gain of 2.02%.
Analysts and investors alike will be keeping a close eye on the performance of Pilgrim's Pride in its upcoming earnings disclosure. In that report, analysts expect Pilgrim's Pride to post earnings of $0.97 per share. This would mark a year-over-year decline of 42.94%. Alongside, our most recent consensus estimate is anticipating revenue of $4.9 billion, indicating a 3% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.52 per share and revenue of $18.7 billion, which would represent changes of -31.91% and +1.09%, respectively, from the prior year.
Any recent changes to analyst estimates for Pilgrim's Pride should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Pilgrim's Pride boasts a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Pilgrim's Pride has a Forward P/E ratio of 7.77 right now. This signifies a discount in comparison to the average Forward P/E of 11.21 for its industry.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 73, finds itself in the top 30% echelons of all 250+ industries.
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.
View the Zacks #1 Rank List
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Why Pilgrim's Pride (PPC) Dipped More Than Broader Market Today
In the latest trading session, Pilgrim's Pride (PPC - Free Report) closed at $26.63, marking a -2.53% move from the previous day. The stock's change was less than the S&P 500's daily loss of 0.37%. Meanwhile, the Dow gained 0.29%, and the Nasdaq, a tech-heavy index, lost 1.33%.
Heading into today, shares of the poultry producer had lost 4.01% over the past month, lagging the Consumer Staples sector's loss of 1.01% and the S&P 500's gain of 2.02%.
Analysts and investors alike will be keeping a close eye on the performance of Pilgrim's Pride in its upcoming earnings disclosure. In that report, analysts expect Pilgrim's Pride to post earnings of $0.97 per share. This would mark a year-over-year decline of 42.94%. Alongside, our most recent consensus estimate is anticipating revenue of $4.9 billion, indicating a 3% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.52 per share and revenue of $18.7 billion, which would represent changes of -31.91% and +1.09%, respectively, from the prior year.
Any recent changes to analyst estimates for Pilgrim's Pride should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.
Based on our research, we believe these estimate revisions are directly related to near-term stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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. Within the past 30 days, our consensus EPS projection remained stagnant. At present, Pilgrim's Pride boasts a Zacks Rank of #5 (Strong Sell).
Valuation is also important, so investors should note that Pilgrim's Pride has a Forward P/E ratio of 7.77 right now. This signifies a discount in comparison to the average Forward P/E of 11.21 for its industry.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 73, finds itself in the top 30% echelons of all 250+ industries.
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.