Stock analysts predict that Pilgrim’s Pride Co. (NASDAQ: PPC) will post earnings of $ 0.69 per share for the current fiscal year, reports Zacks Investment Research. Zero analysts have given estimates of Pilgrim’s Pride earnings. Pilgrim’s Pride reported earnings of $ 0.66 per share for the year-ago quarter, suggesting a positive year-over-year growth rate of 4.5%. The company is expected to release its next quarterly earnings report on Wednesday, October 27th.
On average, analysts expect Pilgrim’s Pride to post annual earnings of $ 2.17 per share for the current fiscal year. For the next fiscal year, analysts expect the company to post earnings of $ 2.34 per share, with EPS estimates ranging from $ 2.16 to $ 2.51. Zacks Investment Research’s earnings per share calculations are an average average based on a survey of sell-side research firms covering Pilgrim’s Pride.
Pilgrim’s Pride (NASDAQ: PPC) last released its earnings results on Wednesday, July 28th. The company reported $ 0.63 EPS for the quarter, beating Zacks’ consensus estimate of $ 0.59 by $ 0.04. The company had sales of $ 3.64 billion for the quarter. Pilgrim’s Pride had a positive return on equity of 18.53% and a negative net margin of 0.25%.
Regardless, Barclays raised its price target on Pilgrim’s Pride from $ 25.00 to $ 28.00 and rated the company as “overweight” in a research release on Thursday June 3rd. Two analysts have given the stock a hold rating and three have given it a buy rating. The company currently has an average rating of “Buy” and an average price target of $ 26.20, according to MarketBeat.com.
Large investors recently changed their positions in the company. Itau Unibanco Holding SA acquired a new stake in Pilgrim’s Pride worth approximately $ 12,544,000 in the second quarter. Point72 Asset Management LP acquired a new stake in Pilgrim’s Pride in the first quarter valued at approximately $ 9,226,000. Wells Fargo & Company MN increased its stake in Pilgrim’s Pride by 148.8% in the second quarter. Wells Fargo & Company MN now owns 593,144 shares in the company valued at $ 13,155,000 after purchasing an additional 354,715 shares during the reporting period. Morgan Stanley increased its stake in Pilgrim’s Pride by 588.3% in the second quarter. Morgan Stanley now owns 384,967 shares in the company valued at $ 8,538,000 after purchasing an additional 329,035 shares during the reporting period. Finally, Dimensional Fund Advisors LP increased its stake in Pilgrim’s Pride by 15.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,450,769 shares in the company valued at $ 54,360,000 after purchasing an additional 326,214 shares during the period. 14.41% of the shares are currently owned by hedge funds and other institutional investors.
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NASDAQ: PPC shares opened at $ 28.00 on Tuesday. The 50-day moving average price for the stock is $ 23.74 and the 200-day moving average price is $ 23.85. Pilgrim’s Pride has a 12-month low of $ 14.06 and a 12-month high of $ 28.23. The stock has a market cap of $ 6.82 billion, a P / E of -215.37, a price-to-earnings-growth ratio of 0.41, and a beta of 1.14. The company has a current metric of 1.39, a quick ratio of 0.71 and debt of 0.88.
About Pilgrim’s Pride
Pilgrim’s Pride Corp. deals with the production, processing, marketing and distribution of fresh, frozen and value-added chicken products to retailers, distributors and food service operators. It operates in the following segments: USA, Great Britain and Europe as well as Mexico. The company was founded by Lonnie A.
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