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Kraft Heinz (KHC) Stock Moves -0.59%: What You Should Know
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Kraft Heinz (KHC - Free Report) closed at $37.13 in the latest trading session, marking a -0.59% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.61%. Elsewhere, the Dow saw a downswing of 0.82%, while the tech-heavy Nasdaq depreciated by 2.23%.
The the processed food company with dual headquarters in Pittsburgh and Chicago's shares have seen a decrease of 2.02% over the last month, not keeping up with the Consumer Staples sector's gain of 4.73% and the S&P 500's gain of 3.28%.
Analysts and investors alike will be keeping a close eye on the performance of Kraft Heinz in its upcoming earnings disclosure. The company's earnings report is set to go public on February 14, 2024. On that day, Kraft Heinz is projected to report earnings of $0.77 per share, which would represent a year-over-year decline of 9.41%. At the same time, our most recent consensus estimate is projecting a revenue of $6.98 billion, reflecting a 5.5% fall from the equivalent quarter last year.
It is also important to note the recent changes to analyst estimates for Kraft Heinz. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 past month, there's been a 0.1% fall in the Zacks Consensus EPS estimate. Kraft Heinz is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Kraft Heinz's current valuation metrics, including its Forward P/E ratio of 12.41. This indicates a discount in contrast to its industry's Forward P/E of 17.5.
It is also worth noting that KHC currently has a PEG ratio of 2.6. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2.37 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 112, putting it in the top 45% 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Kraft Heinz (KHC) Stock Moves -0.59%: What You Should Know
Kraft Heinz (KHC - Free Report) closed at $37.13 in the latest trading session, marking a -0.59% move from the prior day. This change was narrower than the S&P 500's daily loss of 1.61%. Elsewhere, the Dow saw a downswing of 0.82%, while the tech-heavy Nasdaq depreciated by 2.23%.
The the processed food company with dual headquarters in Pittsburgh and Chicago's shares have seen a decrease of 2.02% over the last month, not keeping up with the Consumer Staples sector's gain of 4.73% and the S&P 500's gain of 3.28%.
Analysts and investors alike will be keeping a close eye on the performance of Kraft Heinz in its upcoming earnings disclosure. The company's earnings report is set to go public on February 14, 2024. On that day, Kraft Heinz is projected to report earnings of $0.77 per share, which would represent a year-over-year decline of 9.41%. At the same time, our most recent consensus estimate is projecting a revenue of $6.98 billion, reflecting a 5.5% fall from the equivalent quarter last year.
It is also important to note the recent changes to analyst estimates for Kraft Heinz. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 past month, there's been a 0.1% fall in the Zacks Consensus EPS estimate. Kraft Heinz is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Kraft Heinz's current valuation metrics, including its Forward P/E ratio of 12.41. This indicates a discount in contrast to its industry's Forward P/E of 17.5.
It is also worth noting that KHC currently has a PEG ratio of 2.6. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2.37 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 112, putting it in the top 45% 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.