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In the latest trading session, Pilgrim's Pride (PPC) closed at $30.33, marking a +0.03% move from the previous day. The stock lagged the S&P 500's daily gain of 1.92%. Elsewhere, the Dow gained 2.15%, while the tech-heavy Nasdaq added 0.16%.
Prior to today's trading, shares of the poultry producer had gained 3.3% over the past month. This has lagged the Consumer Staples sector's gain of 3.92% and outpaced the S&P 500's gain of 1.54% in that time.
Investors will be hoping for strength from Pilgrim's Pride as it approaches its next earnings release, which is expected to be July 27, 2022. In that report, analysts expect Pilgrim's Pride to post earnings of $1.12 per share. This would mark year-over-year growth of 77.78%.
It is also important to note the recent changes to analyst estimates for Pilgrim's Pride. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 2.96% lower within the past month. Pilgrim's Pride currently has a Zacks Rank of #3 (Hold).
In terms of valuation, Pilgrim's Pride is currently trading at a Forward P/E ratio of 8.4. This valuation marks a discount compared to its industry's average Forward P/E of 8.88.
Investors should also note that PPC has a PEG ratio of 0.68 right now. 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. The Food - Meat Products industry currently had an average PEG ratio of 1.2 as of yesterday's close.
The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 43, putting it in the top 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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