Yahoo Finance Pilgrim's Pride (PPC) Stock Moves -0.33%: What You Should Know
The most recent trading session ended with Pilgrim's Pride (PPC) standing at $35.88, reflecting a -0.33% shift from the previouse trading day's closing. This change was narrower than the S&P 500's 0.46% loss on the day. At the same time, the Dow lost 0.98%, and the tech-heavy Nasdaq lost 0.64%.
Shares of the poultry producer witnessed a gain of 4.08% over the previous month, beating the performance of the Consumer Staples sector with its loss of 0.34% and the S&P 500's loss of 3.04%.
The upcoming earnings release of Pilgrim's Pride will be of great interest to investors. The company's earnings report is expected on May 1, 2024. The company is forecasted to report an EPS of $0.60, showcasing a 650% upward movement from the corresponding quarter of the prior year.
It is also important to note the recent changes to analyst estimates for Pilgrim's Pride. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.52% higher. Pilgrim's Pride currently has a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Pilgrim's Pride is presently being traded at a Forward P/E ratio of 11.96. This indicates a discount in contrast to its industry's Forward P/E of 22.41.
It is also worth noting that PPC currently has a PEG ratio of 0.41. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Food - Meat Products industry had an average PEG ratio of 0.49 as trading concluded yesterday.
The Food - Meat Products industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 8, positioning it in the top 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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
