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Pilgrim's Pride (PPC) Stock Moves -0.33%: What You Should Know
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Pilgrim's Pride (PPC - Free Report) closed the most recent trading day at $38.99, moving -0.33% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.39%. Meanwhile, the Dow experienced a rise of 0.6%, and the technology-dominated Nasdaq saw a decrease of 2.77%.
The poultry producer's stock has climbed by 10.1% in the past month, exceeding the Consumer Staples sector's gain of 1.88% and the S&P 500's gain of 4.43%.
The investment community will be closely monitoring the performance of Pilgrim's Pride in its forthcoming earnings report. The company is scheduled to release its earnings on July 31, 2024. The company's earnings per share (EPS) are projected to be $1.32, reflecting a 200% increase from the same quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pilgrim's Pride. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Pilgrim's Pride holds a Zacks Rank of #2 (Buy).
Looking at its valuation, Pilgrim's Pride is holding a Forward P/E ratio of 9.2. Its industry sports an average Forward P/E of 19.63, so one might conclude that Pilgrim's Pride is trading at a discount comparatively.
Meanwhile, PPC's PEG ratio is currently 0.25. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Food - Meat Products industry stood at 0.45 at the close of the market yesterday.
The Food - Meat Products industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 51, positioning it in the top 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Pilgrim's Pride (PPC) Stock Moves -0.33%: What You Should Know
Pilgrim's Pride (PPC - Free Report) closed the most recent trading day at $38.99, moving -0.33% from the previous trading session. This move was narrower than the S&P 500's daily loss of 1.39%. Meanwhile, the Dow experienced a rise of 0.6%, and the technology-dominated Nasdaq saw a decrease of 2.77%.
The poultry producer's stock has climbed by 10.1% in the past month, exceeding the Consumer Staples sector's gain of 1.88% and the S&P 500's gain of 4.43%.
The investment community will be closely monitoring the performance of Pilgrim's Pride in its forthcoming earnings report. The company is scheduled to release its earnings on July 31, 2024. The company's earnings per share (EPS) are projected to be $1.32, reflecting a 200% increase from the same quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Pilgrim's Pride. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. As of now, Pilgrim's Pride holds a Zacks Rank of #2 (Buy).
Looking at its valuation, Pilgrim's Pride is holding a Forward P/E ratio of 9.2. Its industry sports an average Forward P/E of 19.63, so one might conclude that Pilgrim's Pride is trading at a discount comparatively.
Meanwhile, PPC's PEG ratio is currently 0.25. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Food - Meat Products industry stood at 0.45 at the close of the market yesterday.
The Food - Meat Products industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 51, positioning it in the top 21% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
You can find more information on all of these metrics, and much more, on Zacks.com.