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The latest trading session saw Kraft Heinz (KHC) ending at $29.66, denoting a -0.37% adjustment from its last day's close. This move lagged the S&P 500's daily gain of 0.16%. At the same time, the Dow added 0.25%, and the tech-heavy Nasdaq lost 0.06%.
Shares of the processed food company with dual headquarters in Pittsburgh and Chicago have depreciated by 5.21% over the course of the past month, outperforming the Consumer Staples sector's loss of 5.71% and lagging the S&P 500's loss of 2.7%.
Market participants will be closely following the financial results of Kraft Heinz in its upcoming release. The company is forecasted to report an EPS of $0.79, showcasing a 1.28% upward movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $6.69 billion, down 2.53% from the year-ago period.
It's also important for investors to be aware of any recent modifications to analyst estimates for Kraft Heinz. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 last 30 days, the Zacks Consensus EPS estimate has moved 0.29% lower. As of now, Kraft Heinz holds a Zacks Rank of #3 (Hold).
Digging into valuation, Kraft Heinz currently has a Forward P/E ratio of 9.69. This represents a discount compared to its industry's average Forward P/E of 16.52.
We can additionally observe that KHC currently boasts a PEG ratio of 3.42. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Food - Miscellaneous industry had an average PEG ratio of 2.7 as trading concluded yesterday.
The Food - Miscellaneous industry is part of the Consumer Staples sector. At present, this industry carries a Zacks Industry Rank of 200, placing it within the bottom 21% of over 250 industries.