Pilgrim’s Pride (PPC) to Release Earnings on Wednesday

Pilgrim’s Pride (NASDAQ:PPC) is scheduled to issue its quarterly earnings data after the market closes on Wednesday, July 31st. Analysts expect the company to announce earnings of $1.32 per share for the quarter. Investors interested in participating in the company’s conference call can do so using this link.

Pilgrim’s Pride (NASDAQ:PPC) last posted its earnings results on Wednesday, May 1st. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.17. Pilgrim’s Pride had a net margin of 2.80% and a return on equity of 17.35%. The firm had revenue of $4.36 billion during the quarter, compared to the consensus estimate of $4.45 billion. During the same quarter last year, the firm earned $0.08 EPS. The firm’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts expect Pilgrim’s Pride to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Pilgrim’s Pride Stock Down 0.9 %

Pilgrim’s Pride stock opened at $41.24 on Tuesday. Pilgrim’s Pride has a fifty-two week low of $22.33 and a fifty-two week high of $41.77. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.01 and a current ratio of 1.83. The firm has a 50 day moving average price of $37.28 and a 200 day moving average price of $34.21. The company has a market capitalization of $9.77 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 0.27 and a beta of 0.78.

Analysts Set New Price Targets

Several analysts recently weighed in on PPC shares. Bank of America lifted their target price on shares of Pilgrim’s Pride from $40.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. StockNews.com raised shares of Pilgrim’s Pride from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 3rd. The Goldman Sachs Group raised their price target on shares of Pilgrim’s Pride from $32.00 to $36.00 and gave the company a “neutral” rating in a research report on Wednesday, April 17th. Barclays raised their price target on shares of Pilgrim’s Pride from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Finally, Argus raised their price target on shares of Pilgrim’s Pride from $41.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.60.

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.