Pilgrim’s Pride (NASDAQ:PPC – Get Rating) announced its quarterly earnings results on Wednesday. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.53, MarketWatch Earnings reports. Pilgrim’s Pride had a return on equity of 28.52% and a net margin of 1.34%. During the same quarter in the previous year, the business posted $0.42 EPS.
NASDAQ PPC traded down $0.93 on Friday, reaching $28.35. 920,536 shares of the stock traded hands, compared to its average volume of 964,876. Pilgrim’s Pride has a 12 month low of $20.23 and a 12 month high of $29.70. The firm’s fifty day simple moving average is $24.97 and its 200 day simple moving average is $27.05. The company has a market cap of $6.91 billion, a price-to-earnings ratio of 32.59, a P/E/G ratio of 0.95 and a beta of 1.13. The company has a quick ratio of 0.72, a current ratio of 1.38 and a debt-to-equity ratio of 1.23.
A number of analysts have recently weighed in on PPC shares. Barclays started coverage on Pilgrim’s Pride in a research report on Monday, March 14th. They set an “overweight” rating and a $28.00 price target on the stock. Stephens raised Pilgrim’s Pride from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $30.00 to $35.00 in a report on Friday, February 18th. BMO Capital Markets raised Pilgrim’s Pride from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $28.00 to $30.00 in a report on Thursday, March 10th. Bank of America started coverage on Pilgrim’s Pride in a report on Monday, February 28th. They issued a “neutral” rating for the company. Finally, TheStreet raised Pilgrim’s Pride from a “c” rating to a “b-” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $31.25.
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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