Pilgrim’s Pride (PPC) Scheduled to Post Earnings on Wednesday

Pilgrim’s Pride (NASDAQ:PPC) is set to announce its earnings results after the market closes on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.51 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results on Monday, February 26th. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.16. Pilgrim’s Pride had a return on equity of 12.90% and a net margin of 1.85%. The business had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.48 billion. During the same period in the prior year, the business earned ($0.49) EPS. Pilgrim’s Pride’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 Price Performance

NASDAQ PPC opened at $36.14 on Tuesday. The business 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. 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 price-to-earnings ratio of 26.77, a PEG ratio of 0.40 and a beta of 0.82.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PPC shares. StockNews.com raised Pilgrim’s Pride from a “hold” rating to a “buy” rating in a research note on Tuesday, February 27th. BMO Capital Markets increased their target price on Pilgrim’s Pride from $32.00 to $35.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 27th. The Goldman Sachs Group upped their price target on Pilgrim’s Pride from $32.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 17th. Barclays reaffirmed 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. Finally, TheStreet raised Pilgrim’s Pride from a “c+” rating to a “b+” rating in a research report on Monday, February 26th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Pilgrim’s Pride presently has an average rating of “Moderate Buy” and an average price target of $37.25.

Insider Activity

In other news, CEO Fabio Sandri sold 40,000 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $33.32, for a total value of $1,332,800.00. Following the completion of the sale, 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 legal filing with the SEC, which is available at this link. 82.63% of the stock is currently owned by insiders.

About Pilgrim’s Pride

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.