Pilgrim’s Pride (NASDAQ:PPC) Announces Quarterly Earnings Results

Pilgrim’s Pride (NASDAQ:PPC) released its earnings results on Wednesday. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07), Zacks reports. Pilgrim’s Pride had a return on equity of 14.87% and a net margin of 1.75%. The firm had revenue of $4.65 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the previous year, the business posted $1.52 EPS. Pilgrim’s Pride’s revenue was down 2.2% on a year-over-year basis.

Pilgrim’s Pride Trading Up 4.5%

Pilgrim’s Pride stock traded up $1.24 during trading on Friday, reaching $28.84. 131,904 shares of the company were exchanged, compared to its average volume of 1,292,809. Pilgrim’s Pride has a 52-week low of $25.00 and a 52-week high of $44.84. The company has a market capitalization of $6.87 billion, a P/E ratio of 21.36 and a beta of 0.31. The stock’s 50 day simple moving average is $29.15 and its two-hundred day simple moving average is $32.60. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.36 and a quick ratio of 0.62.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Bank of America decreased their target price on shares of Pilgrim’s Pride from $37.00 to $30.00 and set a “neutral” rating on the stock in a research report on Thursday, July 2nd. Weiss Ratings lowered shares of Pilgrim’s Pride from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday. BMO Capital Markets reiterated a “market perform” rating and issued a $31.00 price target on shares of Pilgrim’s Pride in a report on Friday. Finally, UBS Group restated a “neutral” rating on shares of Pilgrim’s Pride in a report on Tuesday, September 22nd. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Pilgrim’s Pride has an average rating of “Hold” and an average target price of $35.00.

Pilgrim’s Pride Company Profile

Pilgrim’s Pride Corporation is a food company that produces, processes and distributes poultry and prepared foods. Its product portfolio includes fresh, frozen and ready-to-eat chicken products, as well as foodservice, retail and convenience offerings sold under brands such as Pilgrim’s, Just Bare, Gold’n Plump and Del Dia.

Founded in 1946, the company has grown from a regional poultry business into an international food producer. Pilgrim’s Pride serves grocery retailers, restaurants, foodservice distributors and other commercial customers across the United States, Mexico and the United Kingdom and Europe.