In the latest market close, Pilgrim's Pride (PPC) reached $49.08, with a -0.79% movement compared to the previous day. This move was narrower than the S&P 500's daily loss of 1.57%. On the other hand, the Dow registered a loss of 0.84%, and the technology-centric Nasdaq decreased by 2.15%.

Shares of the poultry producer have depreciated by 11.55% over the course of the past month, underperforming the Consumer Staples sector's loss of 5.38% and outperforming the S&P 500's loss of 12.16%.

Investors will be eagerly watching for the performance of Pilgrim's Pride in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.27, marking a 64.94% rise compared to the same quarter of the previous year.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Pilgrim's Pride. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.

Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, 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. Within the past 30 days, our consensus EPS projection remained stagnant. Pilgrim's Pride is holding a Zacks Rank of #2 (Buy) right now.

Digging into valuation, Pilgrim's Pride currently has a Forward P/E ratio of 9.37. This expresses a discount compared to the average Forward P/E of 12.31 of its industry.

The Food - Meat Products industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 48, which puts it in the top 20% 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.

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).

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