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

Equities research analysts expect Pilgrim’s Pride Co. (NASDAQ:PPC) to announce earnings of $0.28 per share for the current quarter, according to Zacks. Zero analysts have made estimates for Pilgrim’s Pride’s earnings. Pilgrim’s Pride posted earnings per share of $0.09 during the same quarter last year, which would suggest a positive year-over-year growth rate of 211.1%. The company is scheduled to announce its next earnings report on Wednesday, February 12th.

On average, analysts expect that Pilgrim’s Pride will report full-year earnings of $1.73 per share for the current financial year, with EPS estimates ranging from $1.70 to $1.76. For the next financial year, analysts anticipate that the firm will report earnings of $2.26 per share, with EPS estimates ranging from $2.17 to $2.34. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Pilgrim’s Pride.

Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results on Wednesday, October 30th. The company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $2.74 billion. During the same quarter last year, the firm posted $0.21 EPS. The company’s revenue for the quarter was up 3.0% on a year-over-year basis.

Several equities analysts have recently weighed in on PPC shares. ValuEngine lowered shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research raised shares of Pilgrim’s Pride from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Tuesday, October 29th. BidaskClub lowered shares of Pilgrim’s Pride from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Peel Hunt reaffirmed an “add” rating on shares of Pilgrim’s Pride in a report on Monday, October 21st. Finally, Bank of America started 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. Five research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $31.33.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Pilgrim’s Pride by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 4,967,489 shares of the company’s stock worth $126,124,000 after acquiring an additional 132,150 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of Pilgrim’s Pride by 11.3% during the second quarter. AQR Capital Management LLC now owns 2,966,753 shares of the company’s stock worth $73,724,000 after buying an additional 301,692 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Pilgrim’s Pride by 14.2% during the second quarter. BlackRock Inc. now owns 2,742,638 shares of the company’s stock worth $69,637,000 after buying an additional 341,062 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Pilgrim’s Pride by 23.5% during the second quarter. Prudential Financial Inc. now owns 2,225,706 shares of the company’s stock worth $56,511,000 after buying an additional 423,761 shares in the last quarter. Finally, Man Group plc grew its holdings in shares of Pilgrim’s Pride by 1,850.8% during the second quarter. Man Group plc now owns 1,745,958 shares of the company’s stock worth $44,330,000 after buying an additional 1,656,458 shares in the last quarter. 20.09% of the stock is owned by institutional investors.

Shares of Pilgrim’s Pride stock traded down $0.01 on Thursday, reaching $32.29. The stock had a trading volume of 543,700 shares, compared to its average volume of 916,613. The company has a quick ratio of 0.94, a current ratio of 1.82 and a debt-to-equity ratio of 1.08. The stock has a market capitalization of $8.06 billion, a P/E ratio of 25.23, a P/E/G ratio of 0.97 and a beta of 0.76. The company has a 50 day moving average price of $30.30 and a 200 day moving average price of $28.61. Pilgrim’s Pride has a 1 year low of $14.83 and a 1 year high of $33.45.

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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