In the latest market close, Pilgrim's Pride (PPC) reached $44.52, with a -1.72% movement compared to the previous day. This move lagged the S&P 500's daily gain of 0.88%. Meanwhile, the Dow experienced a rise of 1.24%, and the technology-dominated Nasdaq saw an increase of 0.65%.
The poultry producer's stock has dropped by 1.29% in the past month, exceeding the Consumer Staples sector's loss of 2.9% and lagging the S&P 500's gain of 1.17%.
The upcoming earnings release of Pilgrim's Pride will be of great interest to investors. On that day, Pilgrim's Pride is projected to report earnings of $1.13 per share, which would represent year-over-year growth of 91.53%.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pilgrim's Pride. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return 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 #1 (Strong Buy).
Digging into valuation, Pilgrim's Pride currently has a Forward P/E ratio of 9.56. This indicates a discount in contrast to its industry's Forward P/E of 15.83.
We can additionally observe that PPC currently boasts a PEG ratio of 0.2. 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 Food - Meat Products was holding an average PEG ratio of 0.83 at yesterday's closing price.
The Food - Meat Products industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 9, positioning it in the top 4% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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