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Pilgrim's Pride (PPC) Rises As Market Takes a Dip: Key Facts

In the latest market close, Pilgrim's Pride (PPC) reached $35.43, with a +0.83% movement compared to the previous day. The stock outpaced the S&P 500's daily loss of 1.2%. Meanwhile, the Dow lost 0.65%, and the Nasdaq, a tech-heavy index, lost 1.79%.

The poultry producer's stock has climbed by 4.3% in the past month, exceeding the Consumer Staples sector's loss of 4.29% and the S&P 500's loss of 0.85%.

Investors will be eagerly watching for the performance of Pilgrim's Pride in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on May 1, 2024. The company is forecasted to report an EPS of $0.51, showcasing a 537.5% upward movement from the corresponding quarter of the prior year.

Investors should also pay attention to any latest changes in analyst estimates for Pilgrim's Pride. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

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Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Pilgrim's Pride is carrying a Zacks Rank of #1 (Strong Buy).

Looking at valuation, Pilgrim's Pride is presently trading at a Forward P/E ratio of 11.85. This represents a discount compared to its industry's average Forward P/E of 21.36.

We can also see that PPC currently has a PEG ratio of 0.42. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Food - Meat Products was holding an average PEG ratio of 0.46 at yesterday's closing price.

The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 8, putting it in the top 4% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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 follow all of these stock-moving metrics, and many more, on Zacks.com.

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Pilgrim's Pride Corporation (PPC) : Free Stock Analysis Report

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