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

Pilgrim’s Pride (NASDAQ:PPC) will issue its quarterly earnings data after the market closes on Wednesday, October 30th. Analysts expect the company to announce earnings of $1.28 per share for the quarter. Parties that wish to register for the company’s conference call can do so using this link.

Pilgrim’s Pride (NASDAQ:PPC) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.67 earnings per share for the quarter, beating analysts’ consensus estimates of $1.32 by $0.35. The firm had revenue of $4.56 billion for the quarter, compared to analyst estimates of $4.62 billion. Pilgrim’s Pride had a net margin of 4.25% and a return on equity of 25.06%. The business’s quarterly revenue was up 5.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. On average, analysts expect Pilgrim’s Pride to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Pilgrim’s Pride Stock Performance

Shares of PPC stock opened at $46.21 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.82 and a quick ratio of 1.09. The business has a fifty day moving average of $44.54 and a 200 day moving average of $40.28. The firm has a market capitalization of $10.95 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 0.23 and a beta of 0.82. Pilgrim’s Pride has a 1 year low of $23.97 and a 1 year high of $49.07.

Insider Activity at Pilgrim’s Pride

In other Pilgrim’s Pride news, CEO Fabio Sandri sold 65,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $44.50, for a total value of $2,892,500.00. Following the sale, the chief executive officer now directly owns 279,565 shares of the company’s stock, valued at approximately $12,440,642.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Matthew R. Galvanoni sold 6,500 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $43.31, for a total transaction of $281,515.00. Following the completion of the sale, the chief financial officer now owns 51,750 shares of the company’s stock, valued at $2,241,292.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Fabio Sandri sold 65,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $44.50, for a total value of $2,892,500.00. Following the transaction, the chief executive officer now directly owns 279,565 shares of the company’s stock, valued at $12,440,642.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 82.63% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PPC. Barclays upped their target price on Pilgrim’s Pride from $43.00 to $45.00 and gave the company an “equal weight” rating in a research report on Monday, September 9th. Argus increased their price objective on shares of Pilgrim’s Pride from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Stephens assumed coverage on shares of Pilgrim’s Pride in a research report on Thursday, October 3rd. They set an “equal weight” rating and a $43.00 target price for the company. BMO Capital Markets reaffirmed a “market perform” rating and set a $46.00 price target on shares of Pilgrim’s Pride in a research report on Monday, August 12th. Finally, Bank of America cut Pilgrim’s Pride from a “buy” rating to a “neutral” rating and set a $47.00 price objective for the company. in a report on Thursday, August 15th. Five equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $45.33.

Pilgrim’s Pride Company Profile

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.