In the latest market close, Pilgrim's Pride (PPC) reached $53.24, with a +1.24% movement compared to the previous day. This move outpaced the S&P 500's daily loss of 0.33%. On the other hand, the Dow registered a loss of 0.37%, and the technology-centric Nasdaq decreased by 0.53%.
The poultry producer's stock has dropped by 2.95% in the past month, falling short of the Consumer Staples sector's gain of 0.56% and outpacing the S&P 500's loss of 4.03%.
Analysts and investors alike will be keeping a close eye on the performance of Pilgrim's Pride in its upcoming earnings disclosure. The company's upcoming EPS is projected at $1.27, signifying a 64.94% increase compared to the same quarter of the previous year.
It is also important to note the recent changes to analyst estimates for Pilgrim's Pride. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
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, 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 3.02% increase. Pilgrim's Pride is currently a Zacks Rank #1 (Strong Buy).
Digging into valuation, Pilgrim's Pride currently has a Forward P/E ratio of 9.96. For comparison, its industry has an average Forward P/E of 13.04, 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. With its current Zacks Industry Rank of 15, this industry ranks in the top 6% of all industries, numbering over 250.
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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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This article originally published on Zacks Investment Research (zacks.com).
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