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Pilgrim's Pride (PPC) closed the most recent trading day at $45.39, moving -0.02% from the previous trading session. The stock outperformed the S&P 500, which registered a daily loss of 0.43%. On the other hand, the Dow registered a loss of 0.07%, and the technology-centric Nasdaq decreased by 0.9%.
The poultry producer's stock has dropped by 11.67% in the past month, falling short of the Consumer Staples sector's loss of 6.07% and the S&P 500's loss of 1.98%.
The investment community will be paying close attention to the earnings performance of Pilgrim's Pride in its upcoming release. The company is forecasted to report an EPS of $1.13, showcasing a 91.53% upward movement from the corresponding quarter of the prior year.
Investors should also take note of any recent adjustments to analyst estimates for Pilgrim's Pride. 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 shows that these estimate changes are directly correlated with near-term stock prices. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 4.38% higher. Pilgrim's Pride currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Pilgrim's Pride is presently trading at a Forward P/E ratio of 8.87. This valuation marks a discount compared to its industry's average Forward P/E of 16.29.
We can also see that PPC currently has a PEG ratio of 0.18. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The average PEG ratio for the Food - Meat Products industry stood at 0.86 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 22, positioning it in the top 9% 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.