$0.28 Earnings Per Share Expected for Pilgrim’s Pride Co. (NASDAQ:PPC) This Quarter

Wall Street brokerages expect Pilgrim’s Pride Co. (NASDAQ:PPC) to announce $0.28 earnings per share for the current quarter, according to Zacks Investment Research. Zero analysts have made estimates for Pilgrim’s Pride’s earnings. Pilgrim’s Pride reported earnings of $0.09 per share during the same quarter last year, which would indicate a positive year over year growth rate of 211.1%. The firm is expected to announce its next quarterly earnings report on Wednesday, February 12th.

According to Zacks, analysts expect that Pilgrim’s Pride will report full-year earnings of $1.73 per share for the current year, with EPS estimates ranging from $1.70 to $1.76. For the next year, analysts expect that the firm will report earnings of $2.26 per share, with EPS estimates ranging from $2.17 to $2.34. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that cover Pilgrim’s Pride.

Pilgrim’s Pride (NASDAQ:PPC) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.45 EPS for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.02. The firm had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.74 billion. Pilgrim’s Pride had a net margin of 3.24% and a return on equity of 17.87%. The firm’s revenue was up 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.21 EPS.

A number of equities research analysts recently commented on the stock. Bank of America started coverage on shares of Pilgrim’s Pride in a research note on Friday, October 25th. They issued a “neutral” rating and a $32.00 price objective on the stock. Zacks Investment Research raised shares of Pilgrim’s Pride from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Tuesday, October 29th. Peel Hunt reaffirmed an “add” rating on shares of Pilgrim’s Pride in a research note on Monday, October 21st. BMO Capital Markets raised shares of Pilgrim’s Pride from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $31.00 to $36.00 in a research note on Tuesday, August 20th. Finally, Mizuho raised their price target on shares of Pilgrim’s Pride from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $31.33.

NASDAQ PPC traded up $0.28 during trading hours on Thursday, reaching $32.40. The company’s stock had a trading volume of 869,910 shares, compared to its average volume of 1,059,409. The stock has a market cap of $8.06 billion, a PE ratio of 25.31, a PEG ratio of 0.97 and a beta of 0.76. Pilgrim’s Pride has a fifty-two week low of $14.83 and a fifty-two week high of $33.45. The company’s 50-day moving average is $30.34 and its two-hundred day moving average is $28.69. The company has a debt-to-equity ratio of 1.08, a quick ratio of 0.94 and a current ratio of 1.82.

A number of hedge funds and other institutional investors have recently bought and sold shares of PPC. Destination Wealth Management purchased a new stake in shares of Pilgrim’s Pride during the second quarter valued at approximately $53,000. LS Investment Advisors LLC purchased a new stake in shares of Pilgrim’s Pride during the third quarter valued at approximately $77,000. Point72 Hong Kong Ltd purchased a new stake in shares of Pilgrim’s Pride during the second quarter valued at approximately $82,000. New York State Teachers Retirement System purchased a new stake in shares of Pilgrim’s Pride during the second quarter valued at approximately $119,000. Finally, Dupont Capital Management Corp purchased a new stake in shares of Pilgrim’s Pride during the third quarter valued at approximately $154,000. Hedge funds and other institutional investors own 20.65% of the company’s stock.

About Pilgrim’s Pride

Pilgrim's Pride Corporation engages in the production, processing, marketing, and distribution of fresh, frozen, and value-added chicken products in the United States, the United Kingdom, Europe, and Mexico. The company offers fresh chicken products, including pre-marinated or non-marinated refrigerated (nonfrozen) whole or cut-up chicken; and prepackaged case-ready chicken, such as whole chickens and chicken parts.

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Earnings History and Estimates for Pilgrim`s Pride (NASDAQ:PPC)

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