Kraft Heinz (KHC) ended the recent trading session at $23.47, demonstrating a +2.31% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.01% for the day. Meanwhile, the Dow gained 0.14%, and the Nasdaq, a tech-heavy index, lost 0.46%.
Coming into today, shares of the processed food company with dual headquarters in Pittsburgh and Chicago had lost 5.91% in the past month. In that same time, the Consumer Staples sector lost 0.12%, while the S&P 500 lost 1.4%.
Investors will be eagerly watching for the performance of Kraft Heinz in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.52, marking a 24.64% fall compared to the same quarter of the previous year. Simultaneously, our latest consensus estimate expects the revenue to be $6.12 billion, showing a 3.59% drop compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.07 per share and a revenue of $24.43 billion, signifying shifts of -20.38% and -2.06%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Kraft Heinz. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Within the past 30 days, our consensus EPS projection remained stagnant. Kraft Heinz currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Kraft Heinz has a Forward P/E ratio of 11.11 right now. This signifies a discount in comparison to the average Forward P/E of 14.41 for its industry.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 196, which puts it in the bottom 20% 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.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Kraft Heinz Company (KHC): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).