Pilgrim’s Pride Co. (NASDAQ:PPC) Expected to Announce Earnings of $0.65 Per Share

Equities research analysts expect Pilgrim’s Pride Co. (NASDAQ:PPC – Get Rating) to post earnings per share (EPS) of $0.65 for the current quarter, according to Zacks Investment Research. Zero analysts have provided estimates for Pilgrim’s Pride’s earnings. Pilgrim’s Pride posted earnings of $0.42 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 54.8%. The business is expected to report its next quarterly earnings results after the market closes on Monday, January 1st.

On average, analysts expect that Pilgrim’s Pride will report full-year earnings of $2.78 per share for the current fiscal year, with EPS estimates ranging from $2.74 to $2.81. For the next fiscal year, analysts forecast that the firm will post earnings of $2.88 per share, with EPS estimates ranging from $2.86 to $2.89. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Pilgrim’s Pride.

Pilgrim’s Pride (NASDAQ:PPC – Get Rating) last released its quarterly earnings data on Wednesday, February 9th. The company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.16. The company had revenue of $4.04 billion during the quarter. Pilgrim’s Pride had a net margin of 0.21% and a return on equity of 21.16%. During the same period last year, the business posted $0.25 earnings per share.

Several research analysts recently commented on PPC shares. Stephens raised shares of Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $30.00 to $35.00 in a report on Friday, February 18th. Barclays began coverage on shares of Pilgrim’s Pride in a research note on Monday, March 14th. They issued an “overweight” rating and a $28.00 target price on the stock. Bank of America began coverage on shares of Pilgrim’s Pride in a research note on Monday, February 28th. They issued a “neutral” rating 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 $28.00 to $30.00 in a research note on Thursday, March 10th. Finally, StockNews.com began coverage on shares of Pilgrim’s Pride in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $31.25.

Several institutional investors and hedge funds have recently bought and sold shares of PPC. TIG Advisors LLC purchased a new position in shares of Pilgrim’s Pride in the 3rd quarter worth about $29,435,000. Islet Management LP purchased a new position in shares of Pilgrim’s Pride in the 3rd quarter worth about $19,047,000. Polar Asset Management Partners Inc. purchased a new position in shares of Pilgrim’s Pride in the 3rd quarter worth about $14,726,000. Carlson Capital L P purchased a new position in shares of Pilgrim’s Pride in the 3rd quarter worth about $14,540,000. Finally, Berry Street Capital Management LLP purchased a new position in shares of Pilgrim’s Pride in the 3rd quarter worth about $13,086,000. Hedge funds and other institutional investors own 16.73% of the company’s stock.

PPC opened at $27.38 on Thursday. The company has a 50 day moving average of $24.93 and a 200 day moving average of $27.13. The company has a market cap of $6.68 billion, a PE ratio of 210.63, a price-to-earnings-growth ratio of 0.97 and a beta of 1.13. Pilgrim’s Pride has a 12 month low of $20.23 and a 12 month high of $29.70. The company has a current ratio of 1.38, a quick ratio of 0.72 and a debt-to-equity ratio of 1.23.

About Pilgrim’s Pride (Get Rating)

Pilgrim's Pride Corporation engages in the production, processing, marketing and distribution of fresh, frozen and value-added chicken, and pork products to retailers, distributors, and foodservice operators in the United States, the United Kingdom, Mexico, the Middle East, Asia, Continental Europe, and internationally.

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