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Kraft Heinz (KHC) Beats Stock Market Upswing: What Investors Need to Know
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Kraft Heinz (KHC - Free Report) closed the latest trading day at $32.84, indicating a +1.7% change from the previous session's end. This change outpaced the S&P 500's 0.64% gain on the day. Meanwhile, the Dow gained 1.85%, and the Nasdaq, a tech-heavy index, added 0.2%.
Shares of the the processed food company with dual headquarters in Pittsburgh and Chicago have depreciated by 1.91% over the course of the past month, underperforming the Consumer Staples sector's gain of 0.85% and the S&P 500's gain of 3.82%.
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 July 31, 2024. It is anticipated that the company will report an EPS of $0.74, marking a 6.33% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $6.59 billion, down 1.9% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.01 per share and a revenue of $26.58 billion, representing changes of +1.01% and -0.22%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Kraft Heinz. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.41% lower. Kraft Heinz is currently a Zacks Rank #4 (Sell).
Digging into valuation, Kraft Heinz currently has a Forward P/E ratio of 10.74. This expresses a discount compared to the average Forward P/E of 16.71 of its industry.
We can also see that KHC currently has a PEG ratio of 2.91. 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 - Miscellaneous industry had an average PEG ratio of 2.04.
The Food - Miscellaneous industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 172, positioning it in the bottom 32% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Kraft Heinz (KHC) Beats Stock Market Upswing: What Investors Need to Know
Kraft Heinz (KHC - Free Report) closed the latest trading day at $32.84, indicating a +1.7% change from the previous session's end. This change outpaced the S&P 500's 0.64% gain on the day. Meanwhile, the Dow gained 1.85%, and the Nasdaq, a tech-heavy index, added 0.2%.
Shares of the the processed food company with dual headquarters in Pittsburgh and Chicago have depreciated by 1.91% over the course of the past month, underperforming the Consumer Staples sector's gain of 0.85% and the S&P 500's gain of 3.82%.
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 July 31, 2024. It is anticipated that the company will report an EPS of $0.74, marking a 6.33% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $6.59 billion, down 1.9% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.01 per share and a revenue of $26.58 billion, representing changes of +1.01% and -0.22%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Kraft Heinz. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 0.41% lower. Kraft Heinz is currently a Zacks Rank #4 (Sell).
Digging into valuation, Kraft Heinz currently has a Forward P/E ratio of 10.74. This expresses a discount compared to the average Forward P/E of 16.71 of its industry.
We can also see that KHC currently has a PEG ratio of 2.91. 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 - Miscellaneous industry had an average PEG ratio of 2.04.
The Food - Miscellaneous industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 172, positioning it in the bottom 32% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.