Yahoo Finance Pilgrim's Pride (PPC) Stock Slides as Market Rises: Facts to Know Before You Trade
Pilgrim's Pride (PPC) closed the latest trading day at $35.76, indicating a -0.33% change from the previous session's end. This move lagged the S&P 500's daily gain of 1.02%. Meanwhile, the Dow experienced a rise of 0.4%, and the technology-dominated Nasdaq saw an increase of 2.03%.
Shares of the poultry producer have appreciated by 4.55% over the course of the past month, outperforming the Consumer Staples sector's loss of 0.18% and the S&P 500's loss of 3.15%.
The investment community will be closely monitoring the performance of Pilgrim's Pride in its forthcoming earnings report. The company is scheduled to release its earnings on May 1, 2024. The company's earnings per share (EPS) are projected to be $0.60, reflecting a 650% increase from the same quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for Pilgrim's Pride. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.52% increase. Right now, Pilgrim's Pride possesses a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Pilgrim's Pride is currently being traded at a Forward P/E ratio of 11.92. This signifies a discount in comparison to the average Forward P/E of 22.21 for its industry.
We can also see that PPC currently has a PEG ratio of 0.4. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Food - Meat Products industry had an average PEG ratio of 0.49.
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 7, putting it in the top 3% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Pilgrim's Pride Corporation (PPC) : Free Stock Analysis Report
