Pilgrim's Pride (PPC) Declines More Than Market: Some Information for Investors

In the latest trading session, Pilgrim's Pride (PPC) closed at $37.38, marking a -3.26% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.08%. Meanwhile, the Dow experienced a drop of 0.61%, and the technology-dominated Nasdaq saw an increase of 0.08%.

Shares of the poultry producer witnessed a loss of 9.68% over the previous month, trailing the performance of the Consumer Staples sector with its loss of 3.4%, and the S&P 500's loss of 2.16%.

Market participants will be closely following the financial results of Pilgrim's Pride in its upcoming release. In that report, analysts expect Pilgrim's Pride to post earnings of $0.76 per share. This would mark a year-over-year decline of 41.98%. Meanwhile, our latest consensus estimate is calling for revenue of $4.5 billion, up 0.83% from the prior-year quarter.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.3 per share and a revenue of $18.5 billion, representing changes of -16.83% and +0.01%, respectively, from the prior year.

Investors should also take note of any recent adjustments to analyst estimates for Pilgrim's Pride. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. The Zacks Consensus EPS estimate has moved 4.66% lower within the past month. Currently, Pilgrim's Pride is carrying a Zacks Rank of #5 (Strong Sell).

Digging into valuation, Pilgrim's Pride currently has a Forward P/E ratio of 8.99. This indicates a discount in contrast to its industry's Forward P/E of 12.61.

The Food - Meat Products industry is part of the Consumer Staples sector. This group has a Zacks Industry Rank of 180, putting it in the bottom 27% 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.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

Research Chief Names "Single Best Pick to Double"

From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.

This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.

Free: See Our Top Stock And 4 Runners Up

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Pilgrim's Pride Corporation (PPC): Free Stock Analysis Report

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research