$0.35 EPS Expected for Pilgrim’s Pride Co. (NASDAQ:PPC) This Quarter

Wall Street brokerages predict that Pilgrim’s Pride Co. (NASDAQ:PPC) will report earnings per share (EPS) of $0.35 for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for Pilgrim’s Pride’s earnings. Pilgrim’s Pride posted earnings per share of $0.69 during the same quarter last year, which would suggest a negative year-over-year growth rate of 49.3%. The company is scheduled to issue its next earnings results on Wednesday, July 29th.

According to Zacks, analysts expect that Pilgrim’s Pride will report full year earnings of $1.10 per share for the current year, with EPS estimates ranging from $1.03 to $1.16. For the next year, analysts expect that the company will post earnings of $1.71 per share, with EPS estimates ranging from $1.32 to $2.10. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow Pilgrim’s Pride.

Pilgrim’s Pride (NASDAQ:PPC) last posted its quarterly earnings results on Wednesday, April 29th. The company reported $0.18 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.17 by $0.01. The firm had revenue of $3.07 billion during the quarter, compared to the consensus estimate of $2.98 billion. Pilgrim’s Pride had a return on equity of 15.14% and a net margin of 3.73%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company earned $0.35 earnings per share.

A number of analysts have recently issued reports on PPC shares. Stephens raised Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and set a $28.00 price objective for the company in a research report on Monday, May 11th. They noted that the move was a valuation call. Goldman Sachs Group cut their price objective on Pilgrim’s Pride from $30.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Barclays cut their price objective on Pilgrim’s Pride from $33.00 to $28.00 and set an “overweight” rating for the company in a research report on Tuesday, March 31st. BidaskClub cut Pilgrim’s Pride from a “hold” rating to a “sell” rating in a research report on Friday. Finally, Cfra dropped their price target on Pilgrim’s Pride from $35.00 to $30.00 and set a “buy” rating for the company in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $31.50.

PPC stock traded down $0.12 during mid-day trading on Friday, reaching $20.68. The company had a trading volume of 377,052 shares, compared to its average volume of 1,032,236. Pilgrim’s Pride has a 52 week low of $15.75 and a 52 week high of $33.67. The company has a market capitalization of $5.13 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 2.84 and a beta of 1.05. The stock has a 50 day simple moving average of $19.89 and a two-hundred day simple moving average of $25.69. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.89 and a quick ratio of 0.99.

In other Pilgrim’s Pride news, CEO Jayson Penn sold 3,988 shares of Pilgrim’s Pride stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $22.31, for a total value of $88,972.28. Following the completion of the transaction, the chief executive officer now directly owns 200,420 shares of the company’s stock, valued at approximately $4,471,370.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 78.70% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Benjamin F. Edwards & Company Inc. bought a new position in shares of Pilgrim’s Pride in the 4th quarter valued at $30,000. Nisa Investment Advisors LLC grew its position in Pilgrim’s Pride by 200.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,500 shares of the company’s stock worth $49,000 after acquiring an additional 1,000 shares during the last quarter. CWM Advisors LLC bought a new stake in Pilgrim’s Pride during the 1st quarter worth $29,000. Quantbot Technologies LP bought a new stake in Pilgrim’s Pride during the 4th quarter worth $95,000. Finally, Acadian Asset Management LLC grew its position in Pilgrim’s Pride by 23.5% during the 4th quarter. Acadian Asset Management LLC now owns 3,122 shares of the company’s stock worth $102,000 after acquiring an additional 594 shares during the last quarter. Institutional investors own 20.17% 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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