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Kraft Heinz (KHC) closed the latest trading day at $32.29, indicating a +0.69% change from the previous session's end. The stock exceeded the S&P 500, which registered a gain of 0.28% for the day. Elsewhere, the Dow saw an upswing of 0.53%, while the tech-heavy Nasdaq appreciated by 0.4%.

Shares of the the processed food company with dual headquarters in Pittsburgh and Chicago have depreciated by 0.96% over the course of the past month, underperforming the Consumer Staples sector's gain of 1.71% and the S&P 500's gain of 3.78%.

Investors will be eagerly watching for the performance of Kraft Heinz in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 31, 2024. The company is predicted to post an EPS of $0.74, indicating a 6.33% decline compared to the equivalent quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $6.59 billion, down 1.9% from the year-ago period.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.01 per share and a revenue of $26.58 billion, representing changes of +1.01% and -0.22%, respectively, from the prior year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Kraft Heinz. 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.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.41% lower within the past month. Kraft Heinz currently has a Zacks Rank of #4 (Sell).

Valuation is also important, so investors should note that Kraft Heinz has a Forward P/E ratio of 10.67 right now. This indicates a discount in contrast to its industry's Forward P/E of 16.57.

Meanwhile, KHC's PEG ratio is currently 2.89. 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. KHC's industry had an average PEG ratio of 2.09 as of yesterday's close.

The Food - Miscellaneous industry is part of the Consumer Staples sector. This industry currently has a Zacks Industry Rank of 107, which puts it in the top 43% of all 250+ industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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