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Kraft Heinz (KHC) Stock Sinks As Market Gains: Here's Why
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Kraft Heinz (KHC - Free Report) closed at $32.82 in the latest trading session, marking a -0.91% move from the prior day. This change lagged the S&P 500's 1.08% gain on the day. On the other hand, the Dow registered a gain of 0.32%, and the technology-centric Nasdaq increased by 1.58%.
Prior to today's trading, shares of the the processed food company with dual headquarters in Pittsburgh and Chicago had gained 0.52% over the past month. This has lagged the Consumer Staples sector's gain of 1.82% and outpaced the S&P 500's gain of 0.43% in that time.
The investment community will be paying close attention to the earnings performance of Kraft Heinz in its upcoming release. The company is slated to reveal its earnings on July 31, 2024. On that day, Kraft Heinz is projected to report earnings of $0.73 per share, which would represent a year-over-year decline of 7.59%. Our most recent consensus estimate is calling for quarterly revenue of $6.57 billion, down 2.21% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3 per share and a revenue of $26.55 billion, representing changes of +0.67% and -0.34%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Kraft Heinz. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 witnessed a 0.44% decrease. Kraft Heinz is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Kraft Heinz has a Forward P/E ratio of 11.05 right now. This represents a discount compared to its industry's average Forward P/E of 16.77.
It's also important to note that KHC currently trades at a PEG ratio of 2.99. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2.08 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 180, positioning it in the bottom 29% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Kraft Heinz (KHC) Stock Sinks As Market Gains: Here's Why
Kraft Heinz (KHC - Free Report) closed at $32.82 in the latest trading session, marking a -0.91% move from the prior day. This change lagged the S&P 500's 1.08% gain on the day. On the other hand, the Dow registered a gain of 0.32%, and the technology-centric Nasdaq increased by 1.58%.
Prior to today's trading, shares of the the processed food company with dual headquarters in Pittsburgh and Chicago had gained 0.52% over the past month. This has lagged the Consumer Staples sector's gain of 1.82% and outpaced the S&P 500's gain of 0.43% in that time.
The investment community will be paying close attention to the earnings performance of Kraft Heinz in its upcoming release. The company is slated to reveal its earnings on July 31, 2024. On that day, Kraft Heinz is projected to report earnings of $0.73 per share, which would represent a year-over-year decline of 7.59%. Our most recent consensus estimate is calling for quarterly revenue of $6.57 billion, down 2.21% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3 per share and a revenue of $26.55 billion, representing changes of +0.67% and -0.34%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Kraft Heinz. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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 witnessed a 0.44% decrease. Kraft Heinz is currently sporting a Zacks Rank of #4 (Sell).
Valuation is also important, so investors should note that Kraft Heinz has a Forward P/E ratio of 11.05 right now. This represents a discount compared to its industry's average Forward P/E of 16.77.
It's also important to note that KHC currently trades at a PEG ratio of 2.99. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Food - Miscellaneous stocks are, on average, holding a PEG ratio of 2.08 based on yesterday's closing prices.
The Food - Miscellaneous industry is part of the Consumer Staples sector. Currently, this industry holds a Zacks Industry Rank of 180, positioning it in the bottom 29% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.