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Why the Market Dipped But Kraft Heinz (KHC) Gained Today
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Kraft Heinz (KHC - Free Report) ended the recent trading session at $33.05, demonstrating a +0.76% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 2.32% for the day. Elsewhere, the Dow lost 1.25%, while the tech-heavy Nasdaq lost 3.64%.
Prior to today's trading, shares of the the processed food company with dual headquarters in Pittsburgh and Chicago had 0% over the past month. This has lagged the Consumer Staples sector's gain of 1% and the S&P 500's gain of 1.79% in that time.
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. The company is expected to report EPS of $0.73, down 7.59% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $6.54 billion, indicating a 2.71% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.99 per share and revenue of $26.44 billion, which would represent changes of +0.34% and -0.74%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Kraft Heinz. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.77% fall in the Zacks Consensus EPS estimate. Kraft Heinz currently has a Zacks Rank of #4 (Sell).
With respect to valuation, Kraft Heinz is currently being traded at a Forward P/E ratio of 10.98. For comparison, its industry has an average Forward P/E of 16.96, which means Kraft Heinz is trading at a discount to the group.
We can also see that KHC currently has a PEG ratio of 3.29. 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 - Miscellaneous industry stood at 2.05 at the close of the market yesterday.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 177, finds itself in the bottom 30% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Why the Market Dipped But Kraft Heinz (KHC) Gained Today
Kraft Heinz (KHC - Free Report) ended the recent trading session at $33.05, demonstrating a +0.76% swing from the preceding day's closing price. The stock exceeded the S&P 500, which registered a loss of 2.32% for the day. Elsewhere, the Dow lost 1.25%, while the tech-heavy Nasdaq lost 3.64%.
Prior to today's trading, shares of the the processed food company with dual headquarters in Pittsburgh and Chicago had 0% over the past month. This has lagged the Consumer Staples sector's gain of 1% and the S&P 500's gain of 1.79% in that time.
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. The company is expected to report EPS of $0.73, down 7.59% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $6.54 billion, indicating a 2.71% decrease compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.99 per share and revenue of $26.44 billion, which would represent changes of +0.34% and -0.74%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Kraft Heinz. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, there's been a 0.77% fall in the Zacks Consensus EPS estimate. Kraft Heinz currently has a Zacks Rank of #4 (Sell).
With respect to valuation, Kraft Heinz is currently being traded at a Forward P/E ratio of 10.98. For comparison, its industry has an average Forward P/E of 16.96, which means Kraft Heinz is trading at a discount to the group.
We can also see that KHC currently has a PEG ratio of 3.29. 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 - Miscellaneous industry stood at 2.05 at the close of the market yesterday.
The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry, currently bearing a Zacks Industry Rank of 177, finds itself in the bottom 30% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.