Pilgrim's Pride (PPC) ended the recent trading session at $28.95, demonstrating a +1.19% change from the preceding day's closing price. The stock's change was more than the S&P 500's daily gain of 1.18%. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 2.07%.
Shares of the poultry producer have appreciated by 1.06% over the course of the past month, underperforming the Consumer Staples sector's gain of 2.27%, and outperforming the S&P 500's loss of 2.9%.
Investors will be eagerly watching for 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%. Meanwhile, our latest consensus estimate is calling for revenue of $4.9 billion, up 3% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $3.52 per share and a revenue of $18.7 billion, demonstrating changes of -31.91% and +1.09%, respectively, from the preceding year.
Any recent changes to analyst estimates for Pilgrim's Pride should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent 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, 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 last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Pilgrim's Pride presently features a Zacks Rank of #5 (Strong Sell).
Looking at its valuation, Pilgrim's Pride is holding a Forward P/E ratio of 8.14. For comparison, its industry has an average Forward P/E of 11.62, 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. This group has a Zacks Industry Rank of 184, putting it in the bottom 25% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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 Corporation (PPC): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).