Zacks: Analysts Expect Pilgrim’s Pride Co. (NASDAQ:PPC) to Post $0.28 Earnings Per Share

Wall Street brokerages predict that Pilgrim’s Pride Co. (NASDAQ:PPC) will post earnings per share of $0.28 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Pilgrim’s Pride’s earnings. Pilgrim’s Pride reported earnings of $0.09 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 211.1%. The firm is scheduled to report its next quarterly earnings results on Wednesday, February 12th.

On average, analysts expect that Pilgrim’s Pride will report full year earnings of $1.77 per share for the current fiscal year, with EPS estimates ranging from $1.76 to $1.78. For the next financial year, analysts forecast that the company will report earnings of $2.30 per share, with EPS estimates ranging from $2.25 to $2.34. Zacks’ earnings per share averages are a mean average based on a survey of analysts that follow Pilgrim’s Pride.

Pilgrim’s Pride (NASDAQ:PPC) last announced its earnings results on Wednesday, October 30th. The company reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.02. Pilgrim’s Pride had a net margin of 3.24% and a return on equity of 17.87%. The business had revenue of $2.78 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the prior year, the company posted $0.21 earnings per share. The firm’s revenue was up 3.0% on a year-over-year basis.

Several research analysts recently commented on the stock. BMO Capital Markets upgraded shares of Pilgrim’s Pride from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $31.00 to $36.00 in a report on Tuesday, August 20th. Zacks Investment Research cut shares of Pilgrim’s Pride from a “hold” rating to a “sell” rating and set a $34.00 target price for the company. in a report on Wednesday, November 20th. ValuEngine cut shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub cut shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Finally, Bank of America assumed coverage on shares of Pilgrim’s Pride in a report on Friday, October 25th. They set a “neutral” rating and a $32.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $31.67.

Hedge funds have recently made changes to their positions in the business. LS Investment Advisors LLC acquired a new stake in shares of Pilgrim’s Pride during the 3rd quarter worth about $77,000. Point72 Hong Kong Ltd bought a new position in Pilgrim’s Pride during the second quarter worth about $82,000. Meeder Asset Management Inc. bought a new position in Pilgrim’s Pride during the second quarter worth about $138,000. Dupont Capital Management Corp bought a new position in Pilgrim’s Pride during the third quarter worth about $154,000. Finally, ClariVest Asset Management LLC bought a new position in Pilgrim’s Pride during the second quarter worth about $169,000. Hedge funds and other institutional investors own 20.52% of the company’s stock.

PPC traded up $0.41 during trading hours on Friday, hitting $32.12. 933,676 shares of the company’s stock were exchanged, compared to its average volume of 620,143. Pilgrim’s Pride has a 1-year low of $14.83 and a 1-year high of $33.45. The stock’s 50-day moving average is $31.04 and its two-hundred day moving average is $29.12. The stock has a market cap of $7.91 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 0.94 and a beta of 0.73. The company has a quick ratio of 0.94, a current ratio of 1.82 and a debt-to-equity ratio of 1.08.

Pilgrim’s Pride Company Profile

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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