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Pilgrim's Pride (PPC) Advances While Market Declines: Some Information for Investors
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In the latest market close, Pilgrim's Pride (PPC - Free Report) reached $40.10, with a +1.6% movement compared to the previous day. The stock's change was more than the S&P 500's daily loss of 2.32%. Meanwhile, the Dow experienced a drop of 1.25%, and the technology-dominated Nasdaq saw a decrease of 3.64%.
Heading into today, shares of the poultry producer had gained 3.41% over the past month, outpacing the Consumer Staples sector's gain of 1% and the S&P 500's gain of 1.79% in that time.
The investment community will be paying close attention to the earnings performance of Pilgrim's Pride in its upcoming release. The company is slated to reveal its earnings on July 31, 2024. It is anticipated that the company will report an EPS of $1.32, marking a 200% rise compared to the same quarter of the previous year.
Investors might also notice recent changes to analyst estimates for Pilgrim's Pride. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 past month, the Zacks Consensus EPS estimate remained stagnant. At present, Pilgrim's Pride boasts a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Pilgrim's Pride has a Forward P/E ratio of 9.29 right now. This signifies a discount in comparison to the average Forward P/E of 19.51 for its industry.
It's also important to note that PPC currently trades at a PEG ratio of 0.26. 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. Food - Meat Products stocks are, on average, holding a PEG ratio of 0.45 based on yesterday's closing prices.
The Food - Meat Products industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 23, this industry ranks in the top 10% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Pilgrim's Pride (PPC) Advances While Market Declines: Some Information for Investors
In the latest market close, Pilgrim's Pride (PPC - Free Report) reached $40.10, with a +1.6% movement compared to the previous day. The stock's change was more than the S&P 500's daily loss of 2.32%. Meanwhile, the Dow experienced a drop of 1.25%, and the technology-dominated Nasdaq saw a decrease of 3.64%.
Heading into today, shares of the poultry producer had gained 3.41% over the past month, outpacing the Consumer Staples sector's gain of 1% and the S&P 500's gain of 1.79% in that time.
The investment community will be paying close attention to the earnings performance of Pilgrim's Pride in its upcoming release. The company is slated to reveal its earnings on July 31, 2024. It is anticipated that the company will report an EPS of $1.32, marking a 200% rise compared to the same quarter of the previous year.
Investors might also notice recent changes to analyst estimates for Pilgrim's Pride. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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 past month, the Zacks Consensus EPS estimate remained stagnant. At present, Pilgrim's Pride boasts a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that Pilgrim's Pride has a Forward P/E ratio of 9.29 right now. This signifies a discount in comparison to the average Forward P/E of 19.51 for its industry.
It's also important to note that PPC currently trades at a PEG ratio of 0.26. 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. Food - Meat Products stocks are, on average, holding a PEG ratio of 0.45 based on yesterday's closing prices.
The Food - Meat Products industry is part of the Consumer Staples sector. With its current Zacks Industry Rank of 23, this industry ranks in the top 10% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.