Pilgrim's Pride (PPC) ended the recent trading session at $27.40, demonstrating a -4.76% change from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily loss of 0.28%. Elsewhere, the Dow saw a downswing of 1.09%, while the tech-heavy Nasdaq appreciated by 0.2%.
Heading into today, shares of the poultry producer had lost 3.26% over the past month, lagging the Consumer Staples sector's gain of 4% and the S&P 500's gain of 1.64%.
Investors will be eagerly watching for the performance of Pilgrim's Pride in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.75, indicating a 55.88% decline compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $4.9 billion, indicating a 3% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $3.01 per share and a revenue of $18.7 billion, signifying shifts of -41.78% and +1.09%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Pilgrim's Pride. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 14.51% lower within the past month. Pilgrim's Pride presently features 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 9.57 right now. This signifies a discount in comparison to the average Forward P/E of 11.97 for its industry.
The Food - Meat Products industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 214, finds itself in the bottom 14% echelons 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Beyond Nvidia: AI's Second Wave Is Here
The AI revolution has already minted millionaires. But the stocks everyone knows about aren't likely to keep delivering the biggest profits. AI’s second wave is moving from infrastructure to implementation and these companies are at the forefront of this transition, positioned to become what Amazon and Google were to the internet era.
See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Pilgrim's Pride Corporation (PPC): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).