Pilgrim’s Pride (PPC) Set to Announce Earnings on Wednesday

Pilgrim’s Pride (NASDAQ:PPC) is scheduled to post its quarterly earnings results after the market closes on Wednesday, May 1st. Analysts expect Pilgrim’s Pride to post earnings of $0.51 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings results on Monday, February 26th. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.43 by $0.16. The business had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.48 billion. Pilgrim’s Pride had a net margin of 1.85% and a return on equity of 12.90%. The firm’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same period last year, the company posted ($0.49) earnings per share. On average, analysts expect Pilgrim’s Pride to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Pilgrim’s Pride Stock Performance

PPC stock opened at $36.14 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.89 and a current ratio of 1.68. The stock has a market cap of $8.56 billion, a P/E ratio of 26.77, a P/E/G ratio of 0.40 and a beta of 0.82. The firm has a 50 day simple moving average of $33.75 and a 200 day simple moving average of $29.14. Pilgrim’s Pride has a 52 week low of $19.96 and a 52 week high of $36.47.

Insider Activity

In other news, CEO Fabio Sandri sold 40,000 shares of Pilgrim’s Pride stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $33.32, for a total value of $1,332,800.00. Following the transaction, the chief executive officer now owns 257,065 shares of the company’s stock, valued at $8,565,405.80. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 82.63% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. BMO Capital Markets raised their price target on shares of Pilgrim’s Pride from $32.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. Bank of America lifted their target price on shares of Pilgrim’s Pride from $36.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Barclays reiterated an “equal weight” rating and issued a $38.00 target price (up from $35.00) on shares of Pilgrim’s Pride in a research note on Tuesday, April 16th. The Goldman Sachs Group lifted their target price on shares of Pilgrim’s Pride from $32.00 to $36.00 and gave the company a “neutral” rating in a research note on Wednesday, April 17th. Finally, TheStreet upgraded shares of Pilgrim’s Pride from a “c+” rating to a “b+” rating in a research note on Monday, February 26th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Pilgrim’s Pride presently has an average rating of “Moderate Buy” and a consensus price target of $37.25.

Pilgrim’s Pride Company Profile

Pilgrim's Pride Corporation produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators. The company offers fresh products, including refrigerated whole or cut-up chicken, selected chicken parts that are either marinated or non-marinated, primary pork cuts, added value pork, and pork ribs; and prepared products, which include fully cooked, ready-to-cook and individually frozen chicken parts, strips, nuggets and patties, processed sausages, bacon, smoked meat, gammon joints, pre-packed meats, sandwich and deli counter meats and meat balls.