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

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

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.16. Pilgrim’s Pride had a net margin of 1.85% and a return on equity of 12.90%. The company had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same quarter in the prior year, the firm earned ($0.49) earnings per share. The company’s revenue for the quarter was up 9.0% compared to the same quarter last year. 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 Trading Down 0.8 %

Shares of PPC opened at $35.72 on Wednesday. Pilgrim’s Pride has a 1-year low of $19.96 and a 1-year high of $36.47. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.68 and a quick ratio of 0.89. The firm has a 50 day simple moving average of $33.15 and a 200-day simple moving average of $28.80. The stock has a market cap of $8.46 billion, a price-to-earnings ratio of 26.46, a price-to-earnings-growth ratio of 0.40 and a beta of 0.82.

Insiders Place Their Bets

In other news, CEO Fabio Sandri sold 40,000 shares of the company’s stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $33.32, for a total transaction of $1,332,800.00. Following the completion of the transaction, the chief executive officer now owns 257,065 shares of the company’s stock, valued at approximately $8,565,405.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 82.63% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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