Pilgrim's Pride (PPC) ended the recent trading session at $28.11, demonstrating a +1.04% change from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 0.77% for the day. Meanwhile, the Dow experienced a drop of 0.67%, and the technology-dominated Nasdaq saw a decrease of 0.92%.
The stock of poultry producer has fallen by 12.21% in the past month, lagging the Consumer Staples sector's loss of 4.83% and the S&P 500's gain of 0.96%.
Investors will be eagerly watching for the performance of Pilgrim's Pride in its upcoming earnings disclosure. The company is expected to report EPS of $0.75, down 50.66% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $4.6 billion, down 3.35% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.35 per share and a revenue of $18.5 billion, indicating changes of -54.55% and +0.01%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Pilgrim's Pride. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Currently, Pilgrim's Pride is carrying a Zacks Rank of #5 (Strong Sell).
Looking at valuation, Pilgrim's Pride is presently trading at a Forward P/E ratio of 11.84. This valuation marks a discount compared to its industry average Forward P/E of 12.55.
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 246, putting it in the bottom 1% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. 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).