Pilgrim’s Pride (NASDAQ:PPC) Issues Earnings Results

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

Pilgrim’s Pride Stock Performance

PPC traded up $1.13 on Friday, hitting $28.74. The company had a trading volume of 102,826 shares, compared to its average volume of 1,292,668. The stock has a market cap of $6.84 billion, a price-to-earnings ratio of 21.33 and a beta of 0.31. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.36 and a quick ratio of 0.62. The company’s fifty day moving average price is $29.15 and its 200 day moving average price is $32.60. Pilgrim’s Pride has a 1-year low of $25.00 and a 1-year high of $44.84.

Wall Street Analysts Forecast Growth

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

About Pilgrim’s Pride

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.