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

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

Pilgrim’s Pride (NASDAQ:PPC) last issued its earnings results on Monday, February 26th. The company reported $0.59 earnings per share for the quarter, beating 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 analyst estimates of $4.48 billion. During the same period in the previous year, the company posted ($0.49) EPS. Pilgrim’s Pride’s revenue was up 9.0% on a year-over-year basis. 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

PPC opened at $35.72 on Wednesday. The company has a market capitalization of $8.46 billion, a price-to-earnings ratio of 26.46, a PEG ratio of 0.40 and a beta of 0.82. The company has a current ratio of 1.68, a quick ratio of 0.89 and a debt-to-equity ratio of 1.00. Pilgrim’s Pride has a 12-month low of $19.96 and a 12-month high of $36.47. The business’s fifty day simple moving average is $33.15 and its 200-day simple moving average is $28.80.

Insider Buying and Selling at Pilgrim’s Pride

In other news, CEO Fabio Sandri sold 40,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 257,065 shares of the company’s stock, valued at approximately $8,565,405.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 82.63% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. TheStreet raised shares of Pilgrim’s Pride from a “c+” rating to a “b+” rating in a research report on Monday, February 26th. StockNews.com raised Pilgrim’s Pride from a “hold” rating to a “buy” rating in a research report on Tuesday, February 27th. The Goldman Sachs Group boosted 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. BMO Capital Markets raised their price objective on Pilgrim’s Pride from $32.00 to $35.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th. Finally, Barclays reiterated an “equal weight” rating and issued a $38.00 target price (up from $35.00) on shares of Pilgrim’s Pride in a report on Tuesday, April 16th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.25.

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.